Substandard infrastructure will have serious implications for the growth of tourism in Fiji. Therefore, long term planning is absolutely necessary to develop adequate infrastructure in terms of electricity, water supply, roads, bridges, airports, hospitals, telecommunications, etc. Fiji’s infrastructure has been left neglected for a number of years but it is good to see more activity in some of these areas recently.
But the introduction of macro-prudential policy requires policy makers to be clear about its goals, the duration of the measures, and how such measures might interact with monetary policy. The Reserve Bank introduced macro-prudential policy in the form of speed limits on loan-tovalue ratios (LVRs) in the residential housing market, on 1 October 2013.