During these challenging times, it is always encouraging to see businesses expand their operations to better serve their customers’ needs. I wish to congratulate BSP for its commitment to Fiji and also for the confidence it has shown in the Fiji economy.
The success of our banking sector, however, is obvious: a) Serbian taxpayers did not have to spend a single dinar on rescuing banks; b) NBS’ measures did not destabilize our banking sector – reserve requirement on domestic savings has remained at 40%; c) and the bank ownership structure has proved adequate in times of crisis.