Knowledge Bank

Fijian Attorney-General response to the impact of the Russia-Ukraine war on the Fijian economy

“…If these shocks are sustained over the short term, the OECD (Organisation for Economic Cooperation and Development) expects global GDP growth to reduce by 1 percentage point and inflation to rise by a further 2.5 percentage points. The Ukraine-Russia war has delivered a severe and unfortunate blow to the global economy that will hinder growth and raise prices just as we are starting to bounce back from the pandemic-induced recession. Global trade disruptions and inflationary pressure are likely to intensify as the conflict drags on. Fiji has already begun to experience the spillover effects of these trade shocks, with important inflation pushing up domestic fuel and food prices in recent months. Fiji is particularly susceptible to fuel price shocks, given that fuel accounts for roughly one-third of our total import bill.”

Fijian Attorney-General explains the iTaukei Land Trust Act

“There’s one issue that people have talked to us about all the time, which is bill 17, but there’s no bill 17 anymore. It’s called Act 22 of 21.
As landowners, there are five things that they have to agree to before one can lease the land through TLTB.
• At least 60% of the members of the landowning unit must agree to lease,
• They must agree on what purposes the land will be leased for,
• They must agree to the term of the lease,
• They must agree to the premium they’re going to receive through TLTB,
• They must agree on how much annual rental the lessee would pay.
And remember, every five years, the rent gets reviewed, so once the landowners agree to those five things, then TLTB will issue the lease.
These conditions were before the law and remained unchanged after the law…”

Donation Box

Donation
Close