At this point, let me reiterate that the Stability and Growth Pact already provides a coordination device for fiscal policies and, in particular, provides peer pressure mechanisms for sound and sustainable public finances. It provides the appropriate framework for the conduct and coordination of fiscal policies in good times and also in bad times.
The Local Advisory Boards in each bank will comprise local individuals who would bring unique local knowledge and skills to complement that of the expatriate Senior Executive Management, to enable them to gain a heightened awareness of our environment from a Fiji perspective.