We in the Reserve Bank of Fiji have moved quickly to safeguard financial stability. We have asked the commercial banks to freeze their loan books. We have tightened exchange controls. But let me explain here that we have not stopped any foreign transactions. We have just asked the commercial banks that they seek our approval first before they make these deals.
The debate at European level is focusing again on the practicality of setting up a specialized company for managing the non-performing assets with public support to reduce the weight of these exposures in banks’ balance sheets and to develop the NPL market.