SODELPA MP, Ro Filipe Tuisawau says they want to know how the Government will control its expenditure due to limited and deteriorating income and also went on to say the Opposition will be fixing the mess and broken pieces as the FijiFirst will not be in Government soon.
While speaking on the motion that Parliament approves the government guarantee for the Fiji Development Bank, Ro Filipe says the sad thing is that FijiFirst are the architects of their own demise because they created the 2013 constitution where under the election methodology, they wanted to have one star but now the ruling party does not have any star to get over 100,000 votes.
Ro Filipe says Fiji’s debt sustainability has deteriorated since 2015, fiscal buffers are limited and gross domestic savings is low.
Ro Filipe adds they also want to know the extent of debt that has been repaid to FDB and HFC following the sale of the Pullman Nadi Bay Resort and Spa Fiji.
He had questioned yesterday whether the FDB has lost out as a report states the initial investment was $80 million and there were a lot of complications in the construction which led to a lot of overrun.
Acting Prime Minister, Aiyaz Sayed-Khaiyum has moved a motion that Parliament approves Government guarantee for the Fiji Development Bank borrowings for the 12 month period from 1st March 2022 to 28th February 2023 through the issuance of short and long-term bonds, promissory notes, term deposits, any RBF financing facility and other short-term borrowings.
He has also moved for the Parliament to approve that the Government guarantee is for $200 million and guarantee fee of 0.075% be applied on the cumulative utilised guarantee credit.
