Govt in consultation with banks to revive the economy

By MARK HAIHUIE
THE government has consulted the private sector on strategies to revive the economy, Bank South Pacific chief executive Robin Fleming says.
Fleming told The National that BSP noted a decline in the agriculture import-export.
“The Treasurer has had a consultation with all the commercial banks on foreign exchange to try and get a view on all industry participants and not just the banks,” he said.
Fleming said the consultation included some of the larger importers and exporters, plus the Central Bank to get a broader understanding of the new answers that are influencing the foreign exchange.
“I was essentially giving them (government) an understanding on what the market conditions are, the overhang of orders within the market, the fact that the agricultural conditions in the first half of the year have not been positive,” he said.
“The coffee-borer has seen the coffee crop reducing from high up to 30 to 40 per cent depending on which area.”
He said the general election, where many people were involved in instead of harvesting coffee, impacted the coffee export flow as well.