These areas do not so much need new initiatives as they do the extending, improving, and implementing of existing initiatives. For the future, the main objective should be to improve economic policymaking and institutions in the emerging-market economies. All economies are subject to periodic external financial shocks.
The strong appreciation of the Australian and New Zealand dollar over the year has exacerbated the impact of already higher import prices feeding through to domestic inflation. These explain the large difference in the inflation rate in Fiji by mid 2011 even after accounting for the VAT and electricity price increases.