What we had was mainly supply side data from our financial institutions. In 2012, we conducted a financial competency survey to measure the level of financial competency of our Fijian households. The findings from this survey were used to develop our initial National Financial Literacy Strategy.
The risk of anxiety sweeping through financial markets or rapid economic deterioration – which had been acknowledged in the phrase “Europe is the greatest risk” – thus appears to have been alleviated. Nevertheless, the European debt problem itself has not been resolved, and concern over deleveraging – whereby financial institutions reduce lending and adversely affect economic activity – has yet to be dispelled.