The Reserve Bank of Fiji has reported that the country’s government debt reached $10.1 billion in June 2024, accounting for 73.3 percent of Fiji’s Gross Domestic Product (GDP). The breakdown shows that domestically denominated debt was $6.6 billion, which represents 48.3 percent of GDP, while external debt amounted to $3.4 billion, making up 25.3 percent of GDP.
Additionally, the Central Bank disclosed that foreign reserves were stable at $3.3 billion at the end of June, marking a significant increase from $1.6 billion in the first quarter. This rise in reserves was attributed to inflows exceeding outflows during the period. Government grants and robust tourism revenue contributed to total inflows for the June quarter, effectively surpassing total outflows.
The Reserve Bank of Fiji anticipates that foreign reserves will remain sufficient in the medium term.