Government inherited $2.8b debt
20 March, 2018, 12:07 am
Update: 12:07PM THE current government inherited $2.8 billion worth of debts from the past administrations, says the Attorney General Aiyaz Sayed-Khaiyum.
Speaking at consultations he held this morning with tertiary students on the National Budget, Mr Sayed-Khaiyum said this government has had to pay off past debt.
“When we came in, we had to pay all the other government debts. The debt that we inherited was $2.8 billion which we had to pay,” he said.
“Fiji fortunately unlike other governments around the world, never defaulted on our loans. This is very important otherwise your credit rating goes down.”
Mr Sayed-Khaiyun said today, the total debt by the Government is $4.6 billion including their own debts.
The AG, who is also responsible for the Ministry of Economy held public consultations at the Fiji National University’s Samabula Campus and will continue this afternoon at its Nasinu Campus.