According to the illegal Bainimarama it is aimed at luring tourists back, but the rolling out of decree’s yesterday notably the Decree 7 illegally allowing dual citizenship show’s otherwise. If new Fiji citizens are lured by the opportunity to purchase property or invest/re-invest, a stable political environment is mandatory – Economics 101. If the idea is to channel more remittances in, perhaps it has escaped Bainimarama’s shady fiscal policy advisors that worldwide remittances are slowing down because of the global economic crunch that we are only now pathetically responding to.
Perhaps the grand plan is to lure foreign exchange into the country leaving the majority of our citizens to tussle with hiked costs to 20% of imported goods. It includes essentials such as mortgage payments, food (rice, flour, potatoes), fuel, medicines, building materials etc and guess who has to pick up the short-fall or face the social impact consequences? Yes you Bainimarama. The “apolitical” tourism industry (we have not forgotten just how “apolitical” this group was in fighting Qarase’s draft qoliqoli legislation), will also bear increased costs of food importation that domestic production standards can’t meet.
The hint that exports will peak from the devaluation is shakey. Our export earning mainstay, the sugar industry, which still has lost its core buyer the EU has been on a consistent downward free-fall. The rise in domestic costs to boost exports effectively cancel out any savings as economist Satish Chand points out delicately.
Essentially no new money will make its way into the economy and the begging by the illegal RBF Governor that We the People need to bear inflation for only 12 months is ridiculous and downright arrogant. What more can this illegal regime suck out of its citizens?
In case it escapes them, the military regime's apparent brainwave to shunt civil servants over 55 out the door in coming weeks will also impact the economy via productivity. It is a very short-sighted policy approach to reducing the cost of running government. Shutting down the military would be a more welcome policy direction.
All in all, on the economic side of things, we are happy to go with NZ’s Murray McCulley’s views that someone or someone’S is/are hell-bent on ruining our economy.
On the media front, it is reported that Kavai Damu a Fiji live reporter was hauled up for trying to do his job. We note that Leweni’s new karate-chop enforcer Pene Nonu has been leading the charge on this one and is the one warning all journalists including the now departed Sean Dorney to comply with the illegal Public Emeregency Regulations. Yeah, we see you Pene. Fiji is a small place and the bloggers are here to blast you all out of the water.
The illegal regime continues to be hell-bent also on curbing the media and free speech with the removal of Radio Australia’s transmitters yesterday (except on short-wave radio folks…the signal never dies).
While they continue to strangle the media and free speech, the rumour mills has us now relaying a whisper that Nazhat Shameem is tipped to take over as Chief Justice. Stay tuned.
But we round off this morning bulletin morning to HAIL a staunch freedom activist Prof Wadan Narsey who yesterday gave an outstanding presentation at the University of the South Pacific’s and ECREA convened forum as part of the Rev Niukula lecture series. Suffice to say that the presentation took the bull (and all their supporters) by the horn and whipped them around verbally.
Prof Narsey will be closely monitored by the blogosphere especially on our Heroes Roll Call.