As a small open economy it is very likely that developments offshore will work their way back to Fiji in one form or another. Hence we need to assess the risks and opportunities in this area. The recovery after the Global Financial Crisis (GFC), unfortunately, has been uneven and rather short-lived. Advanced economies remain jolted with poor confidence, high unemployment and unsustainable public debt.
Some are also grappling with weak financial sectors. The emerging & developing economies, while performing relatively better, have now also succumbed to the latest slowdown. The International Monetary Fund (IMF) has revised global economic growth downwards three times already this year. We see that the world economy is now poised to grow by 3.1 percent.