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PFTAC receives $4.07m from the US to provide technical assistance to Pacific Island nations

PFTAC receives $4.07m from the US to provide technical assistance to Pacific Island nations

By Shanil Singh
Tuesday 23/02/2021
Centre Coordinator David Kloeden, US Embassy Chargé d' Affairs Tony Greubel.

Fiji can expect better technical assistance in its efforts to overcome the economic challenges due to COVID-19 as the United States has given $4.07 million to the Pacific Financial Technical Assistance Centre.

The Pacific Financial Technical Assistance Centre was established by the International Monetary Fund to provide technical assistance and training in designing sound macroeconomic and financial policies to 16 Pacific Island countries including Fiji.

Centre Coordinator David Kloeden says the funds will be used to assist countries in managing the crisis and help them prepare for the future.

US Embassy Chargé d' Affairs Tony Greubel says they celebrate the work of PFTAC including virtual training and adjusting priorities for assistance.

Greubel adds their work to enhance debt transparency and to help Pacific countries avoid debt distress is very important.

Deputy Governor of the Reserve Bank of Fiji Esala Masitabua says the role that PFTAC has played in institutional strengthening across our Ministry of Economy, Tax authority, Bureau of Statistics and Reserve Bank is immeasurable.

Masitabua says PFTAC plays a key role especially in these challenging economic times.

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