Fiji has $18.1b assets

Fiji's financial system is sound with gross assets at $18.1 billion(US$8.1billio), which is almost twice the nominal gross domestic product, says Reserve Bank of Fiji governor Ariff Ali.

Ali made the statement after the central bank provided a certified auditor's copy of the bank's financial statements along with its operations report for the year ended July 31, 2017 to Minister for Economy and Attorney-General Aiyaz Sayed-Khaiyum.

In a statement from RBFAli also highlighted that the bank achieved its key objectives of low inflation and maintaining an adequate level of foreign reserves.

He said at the end of July 2017, inflation was 2.0 per cent and the level of foreign reserves was $2.3 billion (US$1.1 billion).

According to  Ali, with steady macroeconomic fundamentals and no threat to the bank's objectives, an accommodative monetary policy stance was adopted throughout the review period.


SOURCE: FIJI TIMES