7 Dec 2009

Expert takes Fiji regime to task for lack of transparency

8:25 pm on 7 December 2009

An economic governance expert from the University of the South Pacific says Fiji's interim governmemt is showing an increasing lack of transparency in its economic management.

Dr Haruo Nagakawa, who works for the School of Government, Development and International Affairs, says the lack of details accompanying the recently released national budget gives analysts like himself little to work with.

However he knows that with dwindling revenues, the interim prime Minister Commodore Frank Bainimarama is struggling to balance his outgoings as well as cut growing deficit.

"But no details are coming out. I've heard that the Commander increased compensation for the military and the police. It's not really a good sign of high quality of governance. I think the economic governance has been really deteriorating."

Dr Haruo Nagakawa says it's also clear that the interim regime is borrowing too heavily from the National Provident Fund without a guarantee that investors will get returns.