Losirene Lacanivalu
Recent claims about the Government’s Chinese debt made by SODELPA Leader Sitiveni Rabuka on the Australian television show 60 Minutes have been dubbed ‘unpatriotic’ by Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum.
Mr Sayed-Khaiyum, who is also the Acting Prime Minister clarified the issue at a Press Conference in Suva on June 21, 2018 and raised serious concerns about the former prime minister’s claims after a number of media groups reached out for comments on the remarks Mr Rabuka made recently on the supposedly burdensome Chinese debt on the country.
Mr Sayed-Khaiyum also said the SODELPA leader’s comments were not factual.
The China Syndrome
During the show, titled ‘The China Syndrome,’ Mr Rabuka is reported to have said that China’s plans in the nation was “domination” and “domination of the region.”
On the TV show, Mr Rabuka said he was not comfortable with China’s involvement in Fiji’s affairs and there was a fear that the Chinese would take over Fiji’s ports and airports because it was happening around the world.
Mr Sayed-Khaiyum said that Chinese loans stood at just 10.6% of Fiji’s total debt, both external and internal, owed to the Exim Bank of China.
Other debts
He said that the Chinese debt, as percentage of Gross Domestic Product, was 4.7%
As far as external debts was a concern, Fiji owed money to the Asian Development Bank (ADB), to the International Fund for Agricultural Development, World Bank, Japan International Cooperation Agency, Exim Bank of China and a Global Bond, he said.
“Mr Rabuka made all sorts of claims, took them (60 Minutes) to MacGregor Road, to the building and said, ‘look at this, this is Chinese now and we owe money to them.’ No we don’t,” Mr Sayed-Khaiyum said.
He also said the building at MacGregor Road that was shown on the television programme was a private equity.
Worrying Statement
He also described Mr Rabuka’s statements as worrying.
“It was under Mr Rabuka’s Prime Ministership that the National Bank of Fiji collapsed, and now we can understand more why it collapsed, he obviously does not understand finance.”
Speaking on the issue of ports and airports, Mr Sayed-Khaiyum asked why the country would give up its ports and airports.
He reiterated that the Chinese debt Fiji is in currently was used on the construction and tar-sealing of the road between Nabouwalu and Dreketi in Vanua Levu, Sawani and Serea Road, Naitasiri, the Sigatoka Valley road, Buca Bay, Moto Road and the Public Rental Board development and the Housing Authority sub-division.
“They are the only projects for which we have a debt exposure for the Exim Bank of China. So, do tell us Sitiveni Rabuka, how are we going to suddenly give up our ports and airports?” Mr Sayed-Khaiyum asked.
He said Mr Rabuka was sensationalising this on the 60 Minutes show.
“He was the same man who, under his government, offered people to come from Hong Kong, if they brought in a $100,000, would be given residency after five years.”
Mr Sayed-Khaiyum said that he was concerned that Mr Rabuka was a leader of an alternative government and was willing to spread false information.
“The only consistency with Sitiveni Rabuka is his inconsistency,” he said.
Meanwhile, Mr Sayed-Khaiyum said that the Government explained the total debt exposure and the building in Suva to 60 Minutes but could not comment further about the channel’s editorial side but was disappointed with Mr Rabuka.
By Arrangement with the Fiji Sun
Photo :
- Sitiveni Rabuka
- Aiyaz Sayed-Khaiyum
