Trade deal may cause big losses
for Fiji: IMF
SUVA: The International Monetary Fund (IMF) is of the strong view that at least one of the two crucial regional trade agreements Fiji are obliged to follow, will lead to major revenue losses, Fiji TV reports.
The IMF is forecasting duty revenue losses in the vicinity of F$150 million (K294 million) a year for country’s like Fiji.
For the last five years, the two regional trade agreements - the Pacific Island countries trade agreement, (Picta) and the Pacific agreement for closer economic relations (Pacer) have dominated forum leaders meetings.
Now the IMF said as noble as their intentions are, the benefits might not be as much as we think.
Pacer, the IMF said, could have negative revenue implications. The IMF said in Fiji’s case, that impact could mean a loss in duty revenue of at least F$150 million (K285 million) a year. – PNS
Business Stories