23 Sep 2009

Fiji's Reserve Bank says nation's import bill must be cut

10:31 am on 23 September 2009

The Reserve Bank of Fiji has called for a massive cut to the nation's import bill as the trade deficit has soared.

The Reserve Bank Governor, Sada Reddy, says Fiji imported 20 million US dollars worth of rice in one year, almost double what it was two years ago.

He has told the Fiji Times that figure must fall by more than 85 per cent if there is to be any hope of slashing the deficit.

Mr Reddy has also called for an 83 per cent slashing of dairy imports and mooted a ban on beef imports.

He has also called for a Made in Fiji campaign to push local products.