• Honourable Members, I am pleased to inform that in regards to external stability, Fiji’s foreign reserves remained well above the benchmark throughout the review period. • At the end of July 2016, our foreign reserves were $ million, just $ million shy of the $ billion mark and was sufficient to cover 5.5 months of retained imports.
• These foreign reserves are what the RBF holds in its accounts. In addition, we have allowed a number of non-bank financial institutions to invest offshore. At the end of July 2016, foreign reserves held by other institutions amounted to more than $ million.