Fiji net international investment position -$7,905.8 millionStaff Writer | January 9, 2017
Fiji's net international investment position (IIP) as at September 30, 2016 was -$7,905.8 million, says the Fiji Bureau of Statistics' (FBoS) IIP report for the September quarter 2016.
Pacific The Fiji Bureau of Statistics:
The FBoS reported that the figure stood at -$7,417.9m a year earlier and when compared with the June 2016 figure the net IIP had risen by $323.1m.
The statistics indicated that there was a much higher value of foreign investments in Fiji compared with Fiji's investment abroad.
The report indicated that Fiji's international liability, which constitutes overseas investments in Fiji as at September 30, 2016 was $11,119.2m.
Other investments is made up of loans $1,504.8m, currency and deposits $396.7m, other accounts payable $326.7m, special drawing rights $192.5m and other equity of $3.4m. Fiji's international assets as at September 30, 2016 was valued at $3,213.4m.
FBoS further clarified that asset and liability debt instruments include currency and deposits, other accounts receivable/payable, debt securities, special drawing rights and loans.
The report indicated that as at September 30, 2016 Fiji's assets and liabilities were valued at $2,969.3m and $3,057.0m respectively giving a net foreign debt as at September 30 of -$87.7m. The figure stood at -$98.6m at September 30, 2015.
The net foreign equity reflects the value of Fiji's resident investment abroad less the non-resident investment in Fiji. It includes equity, investment fund shares and other equity.
Fiji's assets (overseas investments) were valued at $241.8m and against liabilities (foreign investments in Fiji) of $8,062.2m gave a net foreign equity of -$7,820.4m as at September 30, 2016.
The figure was -$7,321.5 as at September 30, 2015 and the change in net foreign equity reflects an increase in foreign investments (liabilities) in Fiji. ■