The Reserve Bank of Fiji reported that the country’s government debt reached $10.1 billion as of June 2024, which represents 73.3 percent of Fiji’s Gross Domestic Product (GDP). The data revealed that domestic debt amounted to $6.6 billion, accounting for 48.3 percent of GDP, while external debt was recorded at $3.4 billion, or 25.3 percent of GDP.
Additionally, the Central Bank stated that foreign reserves held steady at $3.3 billion at the end of June. This figure shows a significant increase from $1.6 billion in the first quarter, attributed to higher inflows that exceeded outflows during this period. Government grants and robust tourism earnings contributed positively to total inflows for the June quarter, compensating for the total outflow.
The Reserve Bank indicated that foreign reserves are expected to remain sufficient in the medium term.