Fiji restricts lending
NZPA Suva Commercial banks in Fiji have been told to deposit $5 million with the Reserve Bank of Fiji to control the country’s money supply, said the Governor of the Reserve Bank, Savenaca Siwatibau. The move is expected to force banks to restrict lend-
ing and overdrafts. Mr Siwatibau said money supply was growing about 10 per cent per annum. Taking into account current and projected rates of economic growth and inflation, Mr Siwatibau said an appropriate rate in money supply would be of the order of 4 to 6 per cent.
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Press, 12 November 1985, Page 21
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95Fiji restricts lending Press, 12 November 1985, Page 21
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