The Reserve Bank of Fiji reported that the country’s government debt reached $10.1 billion in June 2024, representing 73.3 percent of Fiji’s Gross Domestic Product (GDP). The bank noted that domestically denominated debt accounted for $6.6 billion, or 48.3 percent of GDP, while external debt was at $3.4 billion, making up 25.3 percent of GDP.
Additionally, the Central Bank stated that foreign reserves held steady at $3.3 billion by the end of June, showing significant growth from $1.6 billion at the beginning of the quarter. This increase was driven by higher inflows that exceeded outflows during that period. Factors contributing to the influx included government grants and robust tourism revenues, which collectively outweighed the total outflow.
The Reserve Bank of Fiji anticipates that foreign reserves will remain sufficient in the medium term.