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Reuters
Reuters
Business

World Bank warns Fiji to cut debt urgently or risk stalling pandemic recovery

World Bank Fiji Pandemic Covid-19
FILE PHOTO: The morning's first rays of sunlight hit the island community of Serua Village, Fiji, July 15, 2022. REUTERS/Loren Elliott

Fiji must take urgent action to reduce a debt burden that exceeds 90% of gross domestic product or put at risk its recovery from the COVID pandemic and plans for sustainable economic development, the World Bank said on Tuesday.

Debt has spiralled since 2019, as the tourism-dependent economy was hit by border closures against COVID-19 and tropical storms that lashed the Pacific island nation.

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