The Fijian Government will set up a new credit bureau by next year to replace a privately owned data bureau which the government closed down in 2016.
The new data bureau plan was revealed by the International Monetary Fund’s Pablo Murphy Lopez in Suva, Islands Business reports.
Lopez and his three member team were in the country for two weeks since the end of November to carry out their annual country surveillance commonly known as Article IV in the IMF vocabs.
From their preliminary findings, Lopez and his team believed there was significant room to improve Fiji’s economy. He said that one way of achieving this is to establish a credit bureau, which they believe was a key piece in the financial infrastructure.
“Remember there was a data bureau that was shut down in 2016, we think it’s important to open a new one.”
“This institution plays an important role and government is working on that,” he said.