DOCSLIB.ORG

Siwatibau a Voice of Reason Edited by Wadan Lal Narsey

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Siwatibau a Voice of Reason Edited by Wadan Lal Narsey A VOICE OF REASON The writings of Savenaca Siwatibau Edited by Wadan Lal Narsey School of Economics Faculty of Business and Economics The University of the South Pacific i USP Library Cataloguing-in-Publication Data Siwatibau, Savenaca The writings of Savenaca Siwatibau / Savenaca Siwatibau ; edited by Wadan Lal Narsey. – Suva, Fiji : Faculty of Business and Economics, The University of the South Pacific, 2009. vi, 226 p. ; 21 cm. ISBN 978-982-01-0853-0 1. Siwatibau, Savenaca 2. Oceania – Economic policy 3. Leadership - Oceania 4. Corporate governance - Oceania. 5. Corruption - Oceania I. Narsey, Wadan Lal II. Title DU600.S58 2008 320.99611 Cover design Detlef Blumen Printers Quality Print ii Contents Foreword Tributes 1 Eulogy by Jone Dakuvula 2 “Siwa remembered” by Joni Madraiwiwi 11 “The economists’ economist” by Dr T.K. Jayaraman 14 “Siwatibau: role model and icon” by Dr Wadan Narsey 18 The writings of Savenaca Siwatibau Part 1 Macroeconomic policy and stability 25 Macroeconomic management in small economies of the Pacific 26 Macroeconomic policies under adverse conditions: Fiji in 1987 74 Policy discipline from inside or outside? 86 Politics, macroeconomic policies and development in Vanuatu 95 Part 2 Development Issues 119 Managing subordinates, colleagues and bosses 120 Microenterprises and national policy 128 Mainstreaming youth into development 137 Museums and development 141 E-governance and USP 150 Part 3 Good governance, corruption and leadership 162 The National Bank of Fiji: anatomy of disaster 163 Corruption: an impediment to good governance 179 Guarding against the “get rich operators”: some case studies 188 Good corporate governance: the roles of directors 208 Good leadership: launch of 20 th Century Fiji Book 217 iii Foreword by Professor Wadan Narsey Foreword by the Editor This monograph brings together a collection of the writings of Savenaca Siwatibau (Siwa), as well as four tributes to him at his untimely passing due to cancer. Siwa was an exemplary civil servant who gave decades of dedicated service to the governments and people of Fiji, and the region: as Secretary of Finance in the Fiji Government, Governor of the Reserve Bank of Fiji, Head of the ESCAP office based in Vanuatu, and his last professional contribution, as the Vice Chancellor of the University of the South Pacific. Siwa was profoundly committed to the principles of honesty, integrity, disciplined hard work, strong family life, humility, multi-racialism and unwavering adherence to constitutionality and the rule of law. The first part of this monograph contains four tributes: the eulogy given at Siwa’s funeral in Christchurch by Siwa’s vanua representative Jone Dakuvula; the second is an obituary written by Ratu Joni Madraiwiwi for the University of the South Pacific; the third is an appreciation by monetary economist Dr T.K. Jayaraman who knew Siwa professionally for decades; and the fourth is by economist Wadan Narsey, an old friend of Siwa and his wife Suliana, and a developmental commentator on the political economy of Fiji. These four tributes give multi-faceted perspectives on this great “son of Fiji”. Throughout his working life, Siwa made many contributions, as an economist, a leading technocrat and a widely respected social leader of his time. In the development of any country, it is vital that the people learn from the collective wisdom of its leaders who can genuinely be called icons and role models for our citizens. Especially in these troubled times, Fiji needs all the heroes and heroines it can identify. Fiji has very few such persons whose personal and working lives can stand the historical test of close public iv Foreword by Professor Wadan Narsey scrutiny, both during their lifetimes and after their deaths. Savenaca Siwatibau is one of these rare unblemished icons in the history of Fiji. It was important for this country and the region, therefore, that Siwa’s wisdom, as recorded in his writings and presentations, be brought together in one volume for easy reference by students and development practitioners alike. These writings are presented in three sections: those broadly classified as macroeconomic policy advice to Pacific Island countries; a selection on broad development issues; and lastly, articles focusing on corruption, good governance, and leadership. As an economist, Siwa was a constant and powerful advocate for macro-economic stability and fiscal prudence. He provided very sensible economic advice for governments during times of political crisis. Part 1 of this monograph contains four of his articles which contributed in this area to Fiji and the region. An extremely popular speaker, Siwa was often called upon to speak on a whole range of broad development issues. Part 2 of this monograph contains a selection of his numerous presentations, covering human resource management, the role of micro-enterprises, integrating youth into development, the role of museums in our societies, and the potentially powerful role of E-governance. Siwa was personally disappointed by the 1987 and 2000 coups that have devastated Fiji. He believed that bad governance by ineffective leaders, and corruption amongst civil servants and administrators, lay at the heart of Fiji’s development problems. He felt strongly enough about this issue to ensure that one of USP’s Institutes focused on governance issues. This led to the creation of the Pacific Institute for Advanced Studies in Development and Governance (PIASDG). In the last years of his life, and especially after being appointed Vice Chancellor of The v Foreword by Professor Wadan Narsey University of the South Pacific, Siwa gave dozens of hard- hitting lectures on good governance and corruption. These numerous presentations are represented by the five articles that comprise Part 3 of this monograph. During the 2000 coup, some coup leaders appealed to Siwa to become Interim Prime Minister of Fiji. Astonished that the coup leaders expected him to take part in an illegal treasonous takeover of government, Siwa declined the offer. Readers may wish to surmise what Siwa would have thought of the 2006 military coup, its leaders and supporters, local and from abroad. With some of Siwa’s presentations being recorded only as bullet points, there has been some “editorial filling out” to make for easier reading. Suliana Siwatibau and family also assisted with the proof-reading. I am grateful to the Faculty of Business and Economics and its Dean (Professor Biman Prasad) for funding the cover design, as well as the printing of this monograph. Finally, I thank the USP Vice Chancellor (Professor Rajesh Chandra) and the Governor of the Reserve Bank of Fiji (Mr Savenaca Narube) for agreeing to jointly launch this monograph, extremely appropriate, given Siwa’s professional life. Professor Wadan Lal Narsey (editor) School of Economics Faculty of Business and Economics The University of the South Pacific vi Tributes Tributes Siwatibau with Kevin Barnes (Chairman of the Central Monetary Authority of Fiji which eventually became the Reserve Bank of Fiji) and Ratu Yavala Kubuabola (who followed Siwa as Governor), at the 25 th anniversary of the Reserve Bank of Fiji. 1 Tribute: Eulogy for Savenaca Siwatibau (by Jone Dakuvula) Eulogy for Savenaca Siwatibau Jone Dakuvula 1 Siwa’s origins Savenaca Siwatibau was born in Tukavesi Village on November 4, 1940. His mother was Adi Asenaca Mairara and his father, Isaac Driver, from Nabau, Taveuni. Members of this side of the family are with us today. He was a member of the mataqali Vilaca in the yavusa of Kama in the Vanua of Sovatabua. He was raised in Buca, his mother’s village. Education and Career He attended both Natewa and Buca Primary schools and then Buca Levu Provincial School. From there he went to Queen Victoria School where he became Dux in 1958, his last year there. He then went to Suva Grammar for his pre-University year, before going to Auckland University where he obtained Masters of Science degree in Mathematics and Physics in 1963. Siwa was first employed as a meteorologist in Nadi. He started studying Economics at Victoria University in Wellington while attached to the Meteorology office. He then transferred to the Economic Planning office in Suva. In 1968 he went to Sussex University, from where he graduated with a Master of Arts Degree in Economics. He returned to Fiji and became the first Fijian Director of Economic Planning after Independence. Siwa was appointed Permanent Secretary of Finance in 1972 . He became involved in USP as a Government representative on the University Council. He was then _______________________________________________________ 1 Jone Dakuvula, one of the first graduates of USP, is currently working for the Interim Fiji Government. 2 Tribute: Eulogy for Savenaca Siwatibau (by Jone Dakuvula) appointed Alternate Director to the International Monetary Fund in Washington DC in 1978, for two years. On his return to Fiji, he became the first local General Manager of the Central Monetary Authority, a position which was transformed into the first Governor of the Reserve Bank, in 1982. Soon after the coup of 1987, he left Fiji for a fellowship at the Australian National University for six months. In 1988 he was appointed Head of the Economic and Social Commission to Asia and the Pacific (ESCAP) Pacific Operations Centre in Vanuatu where he worked until 2000. He became Pro- Chancellor of USP in 1998 and then took up the appointment of Vice-Chancellor of USP in 2001. Following a brief struggle with cancer, he passed away on Friday October 3, 2003 at Christchurch Hospital. This is a very brief outline of his career, although he was involved in a whole range of other public responsibilities in Fiji and the Pacific region. His life partner, Suliana (Suli) Kaloumaira Although Siwa and Suliana studied at the same time at Auckland University, they first met at a quiz competition between QVS and Adi Cakobau School (ACS).
Load more

Recommended publications
  • FIJI Building Inclusive Institutions for Sustained Growth COUNTRY DIAGNOSTIC STUDY
    FIJI BUILDING INCLUSIVE InstitUTIONS foR SUstained GROWTH COUNTRY DIAGNOSTIC STUDY ASIAN DEVELOPMENT BANK FIJI BUILDING INCLUSIVE InstitUTIONS foR SUstained GROWTH COUNTRY DIAGNOSTIC STUDY Economic Research and Regional Cooperation Department November 2015 ASIAN DEVELOPMENT BANK Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) © 2015 Asian Development Bank 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines Tel +63 2 632 4444; Fax +63 2 636 2444 www.adb.org; openaccess.adb.org Some rights reserved. Published in 2015. Printed in the Philippines. ISBN 978-92-9257-099-6 (Print), 978-92-9257-100-9 (e-ISBN) Publication Stock No. RPT157617-2 Cataloging-In-Publication Data Asian Development Bank Fiji: Building inclusive institutions for sustained growth. Mandaluyong City, Philippines: Asian Development Bank, 2015. 1. Economic development. 2. Fiji. I. Asian Development Bank. The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.
    [Show full text]
  • When Risk Management of Natural Hazards
    Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Not if but when Adapting to natural hazards in the Pacific Islands Region A policy note Public Disclosure Authorized 2006 Sofia Bettencourt | Richard Croad | Paul Freeman | John Hay | Roger Jones Peter King | Padma Lal | Alan Mearns | Geoff Miller | Idah Pswarayi-Riddihough Alf Simpson | Nakibae Teuatabo | Ulric Trotz | Maarten Van Aalst The World Bank East Asia and Pacific Region Pacific Islands Country Management Unit Adapting to Natural Hazards in the Pacific Islands Region 1 This Policy Note is dedicated to the memory of Savenaca Siwatibau for his efforts and vision in mainstreaming hazard risk management into economic planning in the Pacific. Note: The findings, interpretations and conclusions expressed in this Policy Note are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent nor to the Pacific Islands Forum Secretariat, SOPAC or AusAID. Contents List of Acronyms iii Prologue iv Contributors vi Executive summary viii 1 High vulnerability 1 1.1 Fifty years of disasters 1 1.2 Recent trends 4 1.3 The future climate 6 2 Key lessons learned 9 2.1 Early action pays 9 2.2 Some action but too little impact 11 3. Future directions 17 3. 1 Strengthening the enabling national environment 18 3.2 Supporting decision-making 20 3.3 Mainstreaming 24 3.4 Implementation 28 3.5 Monitoring and evaluation 30 3.6
    [Show full text]
  • Financial Sector Development in the Pacific Developing Member Countries
    TABLE OF CONTENTS i FINANCIAL SECTOR DEVELOPMENT IN THE PACIFIC DEVELOPING MEMBER COUNTRIES Volume Two Country Reports Financial Sector Development in the Pacific Developing Member ii Countries: Country Reports © Asian Development Bank 2001 All rights reserved. First published in September 2001. This report was prepared by consultants for the Asian Development Bank. The findings, interpretations, and conclusions expressed in it do not necessarily represent the views of ADB or those of its member governments. The Asian Development Bank does not guarantee the accuracy of the data included in the publication and accepts no responsibility whatsoever for any consequences of their use. ISBN 971-561-392-6 Publication Stock No. 080401 Asian Development Bank P.O. Box 789, 0980 Manila Philippines Website: www.adb.org TABLE OF CONTENTS iii Abbreviations ADB Asian Development Bank ALTA Agricultural Landlord and Tenant Act, Fiji Islands AMU Asset Management Unit ANZ ANZ Bank, Australia and New Zealand Banking Group APRA Australian Prudential Regulation Authority ATHL Amalgamated Telecom Holdings (Fiji Islands) ATM Automatic Teller Machine AusAID Australian Agency for International Development BOK Bank of Kiribati BOT Bank of Tonga BPNG Bank of Papua New Guinea BSP Bank of South Pacific, Papua New Guinea CBS Central Bank of Samoa CBSI Central Bank of Solomon Islands CMDA Capital Market Development Authority (Fiji Islands) CNB Colonial National Bank (Fiji Islands) CPI Consumer Price Index CPSF Civil Service Pension Fund, Tonga DBK Development Bank of
    [Show full text]
  • Development Challenges in Asia and the Pacific in the 1990S / Edited by Seiji Nay A, Stephen Browne, P
    i i , DEVELOPMENT CHALLENGES IN ASIA AND THE PACIFIC IN THE 1990s DEVELOPMENT CHALLENGES IN ASIA AND THE PACIFIC IN THE 1990s Edited by Seiji Naya Stephen Browne East-West United Nations Center Development Programme Library of Cong re 39 Cataloglng-ln-Publlcation Data Development challenges in Asia and the Pacific in the 1990s / edited by Seiji Nay a, Stephen Browne, p. cm. Includes bibliographical references. ISBN 0-86638-145-7 1. Asia—Economic policy. 2. Pacific Area—Economic policy. 3. Economic forecasting—Asia. 4. Economic forecasting—Pacific Area. I. Naya, Seiji. II. Browne, Stephen. HC411.D485 1991 aaa.gs'oog'cwg—dc2o 91 -22350 Copyright 1991 by East-West Center Contents Foreword vii Krishan G. Singh Note on contributors ix PART I: Overview Regional cooperation in Asia and the Pacific: major themes in the 1990s 3 Seiji Naya Proceedings of the UNDP Symposium on Cooperation in Asia and the Pacific 13 Stephen Browne PART II: Issues papers Cooperation in trade and finance in the Asia-Pacific region 37 Victor Santiapillai Private sector development in Asia and the Pacific 75 Seiji Naya Human development in Asia and the Pacific 97 Mahbub ul Haq Social trends affecting natural resource management in upland areas of Asia and the Pacific 111 A. Terry Rambo with Lawrence Hamilton v PART III: Regional and country papers Regional economic cooperation in South Asia . 129 Abulmaal A. Muhith An ASEAN perspective on regional cooperation issues in Asia and the Pacific . 153 Florian A. Album The South Pacific countries and regionalism 169 Savenaca Siwatibau The political economy of China 205 Anthony M.
    [Show full text]
  • Melanesia in Review: Issues and Events, 2002
    Melanesia in Review: Issues and Events, 2002 Reviews of West Papua and Solomon mined, circumvented and ignored by Islands are not included in this issue. the highest in the land including those who were sworn in to uphold it” Fiji (Times, 19 May, 10). During the final The political and economic highlights months of 2002, the Fiji Labour Party in Fiji in 2002 have again brought and some quasi-political civil society into sharp focus a lesson painfully movements like the Citizens Constitu- learned after the 1987 military coups: tional Forum (ccf) questioned why it takes years to recover from the neg- some members of Parliament had been ative ramifications of any national permitted to continue serving in Prime political upheaval. The economic and Minister Qarase’s cabinet despite sociopolitical fallout of the May 2000 videotaped evidence of their close civilian coup in Fiji continued to involvement in the May 2000 civilian impact major events in both the uprising. The extensive video footage politico-legal and economic domains of siege activities at the Veiuto Parlia- of the nation during the year. The mentary Complex emerged during the path to economic recovery and socio- first treason trial of Josefa Nata and political normalcy was generally shaky Timoci Silatolu, which commenced on and fraught with difficulties. The local 26 November and featured deposed tabloids regularly featured major Prime Minister Mahendra Chaudhry scams within the civil service, exacer- as a key state witness (Post, 27 Nov, bated by gross fiscal mismanagement 2; Times, 29 Nov, 1). Following the by the state and a general lack of 14 November conviction of fifteen political goodwill between the major former Counter Revolutionary War- political parties—the ruling Soqosoqo fare Unit soldiers who had been found Duavata ni Lewenivanua (sdl) and guilty of the November 2000 mutiny the opposition Fiji Labour Party (flp).
    [Show full text]
  • Economy and State in Fiji Before and After the Coups
    Economy and State in Fiji before and after the Coups Bruce Knapman This paper is a rt;:vision and update of an earlier article on the economic consequences ofthe I987 military coups d'etat in Fiji (Knapman I988a). Its purpose is to explain what has happened against a background analysis of postindependence development, and to predict what is likely to happen. It is not prescriptive, but it does comment on the universalist, promarket, antistate analysis and policy recommendations in two recent books on the Fiji economy (Cole and Hughes I988; Kasper, Bennett, and Blandy I988). The conclusion is that Fiji probably faces a future ofeconomic stagnation. DEVELOPMENT ISSUES AND PERFORMANCE I970-1986 In I874, at the beginning of the colonial period, Fiji's largely self-sufficient subsistence economy supported a population of about I40,000 Fijians who tolerated a shaky frontier economy of less than 2000 white settlers and traders. By I970, at the end of the colonial period, Fiji had an export economy supporting a population of 480,000. Of these, 200,000 were indigenous land-owning Fijians, 76 percent ofwhom lived in rural villages and retained a significant commitment to subsistence agriculture and neo­ traditional society. Another 24°,000 were Indians, 6I percent of whom lived in rural areas: they were predominantly Fiji-born (therefore "Indo­ Fijian"), grew the principal export crop (sugarcane) on leased land, and were prominent in small-scale commercial and service enterprises. The remaining, almost entirely urban, population consisted of Europeans and Chinese who dominated the management of largely foreign-owned big business in the manufacturing (mainly sugar milling), banking, trade, and tourism sectors (Knapman I987, I; CES, July I988; Fisk I970, 36-42).
    [Show full text]
  • Reserve Bank of Fiji's Experience with Financial Inclusion and Climate
    BRINGING SMART POLICIES TO LIFE RESERVE BANK OF FIJI’S EXPERIENCE WITH FINANCIAL INCLUSION AND CLIMATE CHANGE November 2018 CASE STUDY CONTENTS EXECUTIVE SUMMARY 3 INTRODUCTION 4 BACKGROUND 5 STRATEGIES FOR FINANCIAL INCLUSION AND CLIMATE 6 CHANGE BUILDING RESILIENCE: POLICIES ON FINANCIAL 8 INCLUSION AND CLIMATE CHANGE GREENING THE FINANCIAL SECTOR LDIN 11 FINANCING FIJI’S CLIMATE CHANGE RESPONSE 12 CONCLUSION 13 APPENDIX 14 ABBREVIATIONS 14 ACKNOWLEDGMENT This case study was written by Klaus Prochaska, Vereimi Levula and Andrew Levula with the invaluable contributions of the team of the Reserve Bank of Fiji. © 2018 (November), Alliance for Financial Inclusion. All rights reserved. 3 RESERVE BANK OF FIJI’S EXPERIENCE WITH FINANCIAL INCLUSION AND CLIMATE CHANGE EXECUTIVE SUMMARY Strategic Goal 6.4.6 states: “ Provide support for the development of green financial services and products. This includes When Tropical Cyclone Winston (TC services and products designed for individuals, Winston) hit Fiji in February 2016, the households and MSMEs that reduce negative environmental impacts or provide environmental impacts were intense, immediate and benefits.” far reaching. The biggest tropical cyclone to ever hit the Southern Hemisphere, the In the face of urgent environmental, economic and Category 5 storm destroyed 40,000 homes, social challenges brought about by climate change, flooded crops and farmland and displaced the RBF is finding ways for the financial sector to become more sustainable and transition to a green entire communities. Ultimately, the economy. One of these efforts is the Fiji Financial economic losses from the storm amounted Sector Development Plan 2016–2025, which the RBF to almost one-third of Fiji’s GDP.
    [Show full text]
  • Confronting Fiji Futures
    CONFRONTING FIJI FUTURES EDITED BY A. HAROON AKRAM-LODHI Published by ANU eView The Australian National University Acton ACT 2601, Australia Email: [email protected] This title is also available online at eview.anu.edu.au National Library of Australia Cataloguing-in-Publication entry Title: Confronting Fiji futures / A Haroon Akram-Lodhi (editor). ISBN: 9781921934292 (paperback) 9781921934308 (ebook) Subjects: Fiji--Politics and government. Fiji--Economic conditions. Fiji--Social conditions. Other Creators/Contributors: Akram-Lodhi, A. Haroon (Agha Haroon), 1958- editor. Dewey Number: 320.099611 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without the prior permission of the publisher. Cover design and layout by ANU Press. Cover photograph by M M (padmanaba01): www.flickr.com/photos/43423301@N07/3997565309/ First published 2000 by Asia Pacific Press This edition © 2016 ANU eView Stop Press Confronting the Present: The Coup of May 2000 A Haroon Akram-Lodhi On 19 May 2000, as With widespread doubt community politics that it ConfrontingFiji Futures went about who was in charge of suggested was not universal. to press, a group of 7 men the country, the Great It can be argued that the armed with machine guns Council of Chiefs met. On25 failure of the senior entered the Parliamentary May, following an intensely members of the government Complex in Suva. They took divided meeting, the council to recognise and seek to the Prime Minister, authorised the President to strengthen the fragility of Mahendra Chaudhry, establish, pending the the political consensus members of the Cabinet, and release of the hostages and helped create a climate that other members of the Fiji the resignation of the Prime made the coup possible.
    [Show full text]
  • For Official Use Only
    India – Fiji Bilateral Relations Historical Perspective India’s links with Fiji commenced in 1879 when Indian laborers were brought here under indenture system to work on sugarcane plantations. Between 1879 and 1916 around 60,553 Indians were brought to Fiji. Beginning with early 20th century, Indian traders and others also started arriving in Fiji. In 1920, the indenture system was abolished. Currently, of the 886,416 population (as of 1 March 2017), over one-third are Persons of Indian origin. Prior to Fiji’s independence in 1970, India had a Commissioner since 1948 to look after the interests of people of Indian origin. It was later upgraded to High Commissioner after independence. Fiji’s Prime Minister Ratu Sir Kamisese Mara visited India in 1971 and Prime Minister Smt. Indira Gandhi visited Fiji in 1981. Visit of Prime Minister of India The visit by Hon’ble Prime Minister, Shri Narendra Modi, to Fiji on 19 November 2014 was a watershed moment not only for India-Fiji relations but also for India’s relations with all the Pacific Island Countries. During the visit three MoUs were signed with Fiji: (i) MoU for Extending a Line of Credit for Establishing a Co- Generation Plant in Fiji, (ii) MoU on Cooperation in the field of training of diplomats, and (iii) MoU on the Earmarking of Land for their Diplomatic Missions in the respective Capitals. FIPIC-I: During the November 2014 visit to Fiji, Hon’ble Prime Minister of India also hosted the First Summit of the ‘Forum for India-Pacific Islands Cooperation (FIPIC-I)’ in Suva (Fiji) during the visit on 19 November 2014 with the participation of 14 Pacific Island Countries.
    [Show full text]
  • Fiji Banknotes and Coins
    Message from Mr. Barry Whiteside Currency, United Kingdom and one of the world’s leading coin mints, Governor, Reserve Bank of Fiji the Royal Canadian Mint, Canada, were awarded the tender to design It is my privilege to present to you and produce our new notes and coins in their respective categories. Fiji’s new flora and fauna design I wish to acknowledge the contributions of those people who assisted banknotes and coins officially with the design and public education process through the provision of unveiled by His Excellency the unique and rare photographs. Very few people have actually seen the President of Fiji, Ratu Epeli design subjects alive and we are fortunate to have had this assistance. Nailatikau on 12 December 2012. I am truly grateful to these individuals for their contribution to our new The new banknotes and coins will currency. be issued into circulation from 2 January 2013. The RBF for the first time will introduce a new $2 coin and a polymer banknote in $5 denomination in its new vibrant green colour. These Fiji’s endemic flora and fauna measures have been taken to improve banknote durability and to also designs will now replace the portrait save costs for our nation. Various strategies have been set to withdraw of Her Majesty Queen Elizabeth the old $2 and $5 banknotes. Public awareness will commence in II across all denominations. It January 2013 to ensure an efficient and effective transition for these is important to recognise the two denominations. Other banknote denominations will continue to biodiversity around us.
    [Show full text]
  • Fiji Islands Political Crisis: Background, Analysis, and Chronology
    Fiji Islands Political Crisis: Background, Analysis, and Chronology December 11, 2000 Congressional Research Service https://crsreports.congress.gov RS20690 SUMMARY RS20690 Fiji Islands Political Crisis: Background, December 11, 2000 Analysis, and Chronology Thomas Lum On May 19, 2000, Fijian businessman George Speight and his followers took Prime Specialist in Asian Affairs Minister Mehendra Chaudhry, an ethnic Indian Fijian, and 30 government and parliamentary officials hostage in an attempt to return the political system to indigenous Fijian dominance. The Fiji military appointed an interim civilian government, negotiated the release of the hostages on July 14, 2000, and then arrested Speight on July 26, 2000. Although the interim civilian government expressed disapproval of Speight’s actions, it also indicated plans to create a new Constitution that bars Indo-Fijians from the position of Prime Minister. On November 16, 2000, the Fiji High Court found the formation of the interim government and abrogation of the 1997 Constitution illegal. The United States has demanded a swift restoration of democratic government in Fiji. Congressional Research Service Fiji Islands Political Crisis: Background, Analysis, and Chronology Background Fiji’s Importance in the Region The Republic of the Fiji Islands has the second largest population (813,000 persons) among Pacific Island states, after Papua New Guinea; and second highest per capita income, after the Cook Islands. Many observers regard the Fijian economy as one of the most viable and potentially prosperous in the region.1 Prior to the 1987 coups, described below, many political analysts regarded Fiji as a model of democratic, multi-ethnic government. Even in undemocratic periods, political violence has been relatively minimal and most human rights have remained protected.2 Fiji and Papua New Guinea are the only two South Pacific nations to have significant armed forces.
    [Show full text]
  • Classification of Accounts Guide Last Updated – January 2018
    Classification of Accounts Guide Last updated – January 2018 Contents Part I: General introduction Part II: Residence Part III: Sector categories Part IV.1 – IV.2: Industrial classification Part IV.3: Relationship between sector and industrial classifications Part V.1: Sector components (ESA 10) and sub components Part V.2: List of countries 1 Part I Classification of Accounts Guide – General Introduction I.1 Foreword This guide is intended for all institutions completing a range of Bank of England statistical returns. It describes the two most important systems of classification used in compiling economic and financial statistics in the United Kingdom – the economic sector classification, and the industrial classification. This guide is intended to serve both as an introduction for newcomers and as a source of reference. The nomenclature in the sector classification is in line with international standards – in particular, the European System of National and Regional Accounts (abbreviated to ‘ESA10’). In addition, the analysis of industrial activity is in line with the 2007 standard industrial classification of economic activities (SIC) introduced by the Office for National Statistics. Those without knowledge of accounts classification are recommended to refer to the ‘Guide to Classification’ (Part I Section 3) which takes the reader through the main questions to be answered to help classify accounts correctly. The system of classification used in this guide is solely for statistical purposes. Parts II to IV of the guide describe the main aspects of the classification system in more detail, including lists of examples of institutions, or a web link reference, for many categories. I.2 An introduction to the classification of accounts Sector and industrial classification To understand the underlying behaviour which is reflected in movements in economic and financial statistics, it is necessary to group those entities engaged in financial transactions into broad sectors with similar characteristics.
    [Show full text]