*An inspection of the Reserve Bank of Fiji and Economic Ministry data showed the debt level by end of March ratio was 73.5% |  |
'It will be interesting to check the figure when the RBF releases its 2nd quarter report. The cause for this reduction is the economy, the denominator, has been growing as the numerator (debt) remains static with the growth coming, both, from tourism and from return to post-Covid normalcy from a lower base,' an economist explained to Fijileaks.
The forgiveness of TELS debts: Narsey
'Surely the more rational policy would have been to require those who have got jobs after their graduation to pay their debts, while for those who cannot get jobs, the debts are simply postponed until they do get their jobs and earn incomes.'
"Of course, students who no longer have to pay back their TELS debts will be so happy at the Government’s generosity at letting go of more than $650 millions owed to taxpayers. But a few members of the public (like my old MBHS classmate Vijay Madhavan) have pointed out this is unfair to all those who have been faithfully paying their TELS debt (FT Letters to the Editor, July 3, 2023). Surely the more rational policy would have been to require those who have got jobs after their graduation to pay their debts, while for those who cannot get jobs, the debts are simply postponed until they do get their jobs and earn incomes. Can Government fine tune this policy before the budget is finally passed by Parliament, with the possibility of raising perhaps another $200 million at least which can reduce the net deficit and public debt for taxpayers who have already paid for the education of all these students."
Extract, Wadan Narsey, 8 July 2023, Fiji Times, 'Opinion, 2023-24 Budget: Not tough enough'.
