13  Economic Activity, Prices, and Monetary Policy in Japan Speech at a Meeting with Business Leaders in Ibaraki  February 28, 2019 Hitoshi Suzuki Bank of Japan  Chart 1  Global Economy IMF Projections (as of January 2019)  Real GDP Growth Rate  real GDP growth rate, y/y % chg. 2017  2018  World  3.8  3.7  Advanced economies  2.4  2.3  United States  2.2  2.9  Euro area  2.4  1.8  United Kingdom  1.8  1.4  Japan  1.9  0.9  4.7  4.6  6.5  6.5  China  6.9  6.6  ASEAN  5.3  5.2  Russia  1.5  1.7  Latin America and the Caribbean  1.3  1.1  CY  Emerging market and developing economies Emerging and developing Asia  2019  2020  projection projection 3.5 (-0.2) 2.0 (-0.1) 2.5 (0.0) 1.6 (-0.3) 1.5 (0.0) 1.1 (+0.2) 4.5 (-0.2) 6.3 (0.0) 6.2 (0.0) 5.1 (-0.1) 1.6 (-0.2) 2.0 (-0.2)  3.6 (-0.1) 1.7 (0.0) 1.8 (0.0) 1.7 (0.0) 1.6 (+0.1) 0.5 (+0.2) 4.9 (0.0) 6.4 (0.0) 6.2 (0.0) 5.2 0.0 1.7 (-0.1) 2.5 (-0.2)  Source: World Economic Outlook Update, International Monetary Fund (IMF).
Since 2004, the Reserve Bank of Fiji has invested a lot of time and resources in establishing a risk management structure, indentifying critical processes and documenting contingency plans. We clearly understand that a central bank has a unique position within a country and consequences of business continuity failure are unacceptable.