Govt heads look for ways to pay back debt

After being forced into revising the 2010 national budget, the government also now has to come up with ways to ensure it is able to pay off an estimated $300 million which was issued in the international capital markets in 2006 by September next year.

Under the agreement, Fiji must make a bullet payment on the US$150 million bond and seven percent of that as final interest payment, all due in September 2011.

Permanent Secretary for Finance John Prasad said the heads of government are in constant discussions on how the money would be paid back.