The Reserve Bank has given the government $39,247,000 which is its entire profit of $16,600,000 for the financial year ended 31st December 2009 and $22,647,000 representing one fifth of the balance of the Revaluation Reserve Account.
The Bank Board in view of the prevailing weak economic conditions and tight fiscal position decided not to set aside any profit to General Reserves, but instead transfer the full amount to Government.
The transfer to Government in 2009 for the 2008 financial year was $33,000,031.
The Governor and Bank Board Chairman Sada Reddy said that the 2009 financial performance is a significant achievement and the out-turn was much better than the Bank's budget estimates and was greatly assisted by improvements in the level of foreign reserves.
He said that the Fiji foreign reserves level moved above $1 billion for the first time.
He said the total foreign reserves level at the end of 2009 was $1,097,844,000, almost twice the level of $568,691,000 a year ago.
People are urged to remain vigilant and prepare, as the effects of Tropical Depression TD03F are expected to be felt from tomorrow night, as the centr...
16 hours ago
A gunman has been shot dead and another is being treated after opening fire on Bondi beach, killing 10 people in what is believed to be a targeted ...
10 hours ago
The Southern Division of the Fiji Police has recorded reductions in crime during the first quarter of the 2025–2026 financial year, highlighting ...
14 hours ago
A 23 year old man residing in Raiwai was arrested and taken into custody, in relation to an aggravated robbery case in Raiwaqa this morning.The ...
14 hours ago
The Fiji Museum is hosting a 2-day Bakanawa Canoe Making Holiday Programme starting from tomorrow aimed at providing children and youths with a ...
15 hours ago
Naturopath and nutritionist, Barbara O'Neill and former President of Fiji College of General Practitioners and General Practitioner with special ...
16 hours ago
Sonia Shanaaz, the mother of 10-year-old Aarna who was born with cerebral palsy, says silent treatment hurts after she reached out to the ...
3 days ago
Commissioner of Police Rusiate Tudravu says he will stand by his officers, and he does not support any officer being charged based on public opinion ...
3 days ago
The Fiji Airways Men’s National 7s side are working on their fitness as they prepare for the start of the 2025/2026 World 7s Series this ...
7 days ago
