Giving a lecture on debt while taking us up the debt creek
What a sight. Bainimarama standing before the G77 group of countries and spouting views on the problems of debts owed by developing countries. He says he’s worried by “unsustainable debt overhang”. (Does he have a clue what this means?) All of us back in the far too real world of an economy with no growth and constantly rising prices know the truth. In the case of Fiji there was no real debt problem before Bainimarama seized power and starting reckless borrowing. The latest and worst example being a billion dollars worth of debt to buy ‘his’ airline the latest aircraft so that he can pretend he’s a big shot (and probably pocket some kick backs). This will be the end of our national airline if it cannot get enough customers quickly enough. The genius who thought of it (David Pflieger) realised the risk and fled the country back to the US.
Fijilive, April 26, 2013 PM calls for debt payment measures