Because of these initiatives, I am proud to report that BSP won the “Artificial Intelligence Initiative” award and the “Data Management Initiative” award by Central Banking Publications during its Fintech and Regtech Global Awards held in Singapore last month.
While these are the weighted average lending rates and the rates will obviously differ for individual borrowers they are the best gauge of the general level of interest rate between countries. This comparison of interest rates throws up two interesting observations. First, all the countries that I have mentioned are performing better than Fiji including Samoa and Papua New Guinea.