[Source: Pacific Islands Forum/ Facebook]

Pacific Islands, including Fiji, continue to face challenges with inflation, debt distress, and access to climate finance.

This was highlighted by Deputy Prime Minister and Minister for Finance Biman Prasad during the two-day Forum Economic Ministers Meeting held in Suva.

Prasad says these challenges need to be monitored well for economic growth.

He stresses the importance of identifying measures that support regional approaches to address economic challenges.

“We talked about transport problems, connectivity problems, harmonization of rules and regulations, and investment facilitation. All these constraints and some of those elements have become binding constraints to some extent in achieving sustainable economic growth.”

Prasad adds the PIF Economic Ministers have agreed that donor support is critical to achieving sustainable growth.

Forum members provided updates on the severe impact of climate-induced disasters, global conflicts, and supply chain challenges on Pacific economies in a post-COVID context during their two-day forum held in Suva.