Fiji’s investment activity is showing signs of improvement, with a 25.9 increase in new investment lending in 2024, according to recent data from the Reserve Bank of Fiji (RBF). This growth signals cautious optimism among businesses and investors, reflecting increased confidence in Fiji’s economic recovery following the pandemic-induced slowdown.
New investment lending, which encompasses credit extended to businesses for capital investments, infrastructure development, and expansion projects, has been a key indicator of Fiji’s economic resilience.
The Reserve Bank attributed the uptick to improving economic conditions, the revival of tourism, and government incentives aimed at fostering private sector growth. Sectors such as construction, tourism, and agribusiness have been primary drivers of this resurgence, benefiting from renewed demand and favourable policies.
While the increase in investment lending is encouraging, the RBF noted that growth remains cautious, as businesses navigate challenges such as fluctuating global economic conditions and the rising cost of borrowing. The Reserve Bank continues to monitor these trends closely, ensuring that Fiji’s financial institutions remain stable and adequately equipped to support further growth in the economy.
Strengthening financial oversight with new leadership
Caroline Pickering
In line with its commitment to maintaining the integrity of the financial system, the Reserve Bank of Fiji announced the appointment of Caroline Pickering as the new Director of the Fiji Financial Intelligence Unit (FIU), effective from 1 January 2025. The FIU plays a critical role in combating money laundering and financial crimes, ensuring that Fiji’s financial sector remains secure and compliant with international standards.
With over 25 years of professional experience, including 18 years at the FIU, Ms Pickering brings extensive expertise in regulatory compliance and financial crime prevention. As the Manager of Policy and Compliance at the FIU since 2006, she was instrumental in developing the country’s regulatory framework to combat money laundering and financial crime.
Governor of the Reserve Bank, Ariff Ali, expressed confidence in Ms Pickering’s ability to lead the FIU in a digital financial landscape. Her experience includes collaborations with financial institutions and government agencies, ensuring robust safeguards are in place to prevent illicit activities in Fiji’s financial sector.
