International rating agencies, Standard and Poors, and Moodys have put Fiji on negative credit watch as a result of the coup.
A Moodys’ analyst, Steven Hess, says the agency is watching events in Fiji, and its population of more than 900-thousand makes it a significant regional economy.
According to Radio New Zealand, Hess says the drop-off in tourism following the coup will add to Fiji’s existing problems, such as the declining sugar and garment industries.
Meanwhile, the global bank Citicorp, says the continuing unrest means the next time Fiji’s government goes to the market for money, the interest rates will be much higher.
A Report by The Mole
