In the six months from October 2008 to March 2009 GDP fell by more than 7 per cent on an annual basis compared with the previous six months. The recent signs of an easing of the most acute phase of the recession come from the financial markets and opinion surveys, more than from the statistics available to date on the real economy.
Most commercial banks have complied with this Policy and have begun to offer affordable products and services to their targeted customers. On the same token, the Reserve Bank has, through the collaboration of various donor agencies and other players, set up a National Financial Inclusion Taskforce (NFIT) that will be responsible for driving and promoting microfinance and greater financial inclusion initiatives in Fiji.