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Fiji: IMF Says Fiji Needs 'Concrete Plan' for Economy |
| Source: |
abcasiapacificnews.com |
| Source Date: |
Wednesday, February 22, 2012 |
| Focus: |
Knowledge Management in Government
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| Country: |
Fiji |
| Created: |
Feb 27, 2012 |
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The International Monetary Fund has called for the military government of Fiji to relax emergency measures in preparation for a promised 2014 election.
In its annual report on Fiji's economy, the IMF says its mission team in Fiji has found the economy needed structural reforms and a "concrete plan" ahead of the elections.
The IMF's report says relaxing the emergency regulation and establishing a clear path toward a 2014 election would be the key measures to boost investor confidence.
IMF comments on domestic politics are rare, and Professor Wadan Narsey, from the James Cook University, says it's not usual for the IMF to be calling on a government to hold elections.
"This is indeed a new thing for the IMF to be suggesting that they need to have concrete plans to hold elections," he said.
"What they're not saying bluntly - the IMF is always very diplomatic - is that investment has absoluely sunk right down.
"It’s not just a question of foreign investment, which has declined since 2006, but also local investment and there are no real postive signs for growth in the economy."
The report was approved by the Fund's executive board at the conclusion of the review in January.
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Fiji: IMF Says Fiji Needs 'Concrete Plan' for Economy The International Monetary Fund has called for the military government of Fiji to relax emergency measures in preparation for a promised 2014 election
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