FIJI ISLANDS:

Around $300 million was brought into the country in 2006 in remittances and this has been used to pull people out of poverty.

That is the sentiment of leading economist, Professor Warden Narsey while launching the preliminary report on Poverty and household income in Fiji in 2008-2009.

Professor said that such huge amounts of remittances have strongly counter balanced the impact of declining Gross Domestic Product per capita for Fiji and therefore should not be overlooked.

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FIJI: Remittances up after devaluation

REMITTANCES picked up in 2009 recording $294million. This, the Reserve Bank of Fiji said, was likely due to gains from the devaluation of the Fiji dollar in April.

Remittances remained the largest foreign exchange in the country after tourism, the central bank said in its 2009 annual report.

The growth was 56.5 per cent more than 2008 figures.

Much of the remittance revenue is sent home by servicemen and women in the British Army.

Previously a large percentage of remittances came from health workers and caregivers in the United States. Read more

FIJI: New source sought

Fiji is now looking at remittances from countries such as Abu Dhabi and Djibouti in the United Arab Emirates now traditional venues such as Australia and New Zealand are tightening their foreign employment policies after the global recession.

Economist Dr Mahendra Reddy said it was only common for people to be looking employment in countries that had not been affected by the global economic downturn.

"When it comes to remittance, Australia and New Zealand have been traditional grounds for Fiji and we have always looked close at home. But with money offered in these other countries the trend has shifted," he said.

The Fiji National University professor said people seeking employment in those countries had to make sure they got a proper deal. Agencies have confirmed that jobs for drivers, security personnel, engineers, nurses, teachers and other trades workers were in demand. Even former Meridian Services man, Timoci Lolohea has been recruiting people for the UAE. Read more

FIJI: Remittances saved Fiji from earlier devaluation

Fiji would have recorded devaluation 3 to 4 years ago if there were no impact of remittance income says Academic Doctor Wadan Narsey.

"We would have to devalue probably 4 years ago, 3 years ago had it not been the impact of remittance income which have been the order of 3 - $400m recorded losses and probably keeping in mind what has been unrecorded its probably of the order of around $600m," said Dr Narsey. Read more

Fiji in the top 10 remittance receiver

UVA (Pacnews) Fiji was one of the top 10 remittance recipients in 2007 in the East Asia and Pacific region.

Pacnews reports Fiji is estimated to have received $247million (US$165m) in inward remittances in 2007.

This was the same as the previous year, the report revealed.

However, the report said that the true size of remittances including unrecorded flows through formal and informal channels, is believed to be larger.

The report noted that the acting deputy governor of the Reserve Bank of Fiji, Barry Whiteside, had highlighted that remittances to Fiji in 2006 amounted to $313million (US$210m). [Read more]

REMITTANCES TO FIJI DROP 27 PERCENT IN 2007

SUVA, Fiji (Fijilive, Feb. 6, 2008) – Remittances to Fiji have declined by 27.3 percent cumulative to November when compared with the same period in 2006, the Reserve Bank of Fiji says.

In the latest economic review, the RBF says this has contributed further to subdued consumption activity.

In 2006, remittances brought around FJ$350 million [US$231.7 million] in foreign exchange earnings. It is unclear what the remittance inflow is for 2007. [Read more]