Macrofinancial risk indicators for Small Developing States: A case study of statistical development in Fiji

In pursuit of strategies to accelerate an economic recovery in the post-COVID-9 period, many countries are grappling with managing the macrofinancial risks resulting from increased government debt through massive external borrowings and overextended liabilities of the private sector. Such risks require careful assessment, pragmatic mitigation and innovative policy responses. This paper is focused on Fiji and includes a discussion on the recent advancements in developing macrofinancial risk indicators, assessment tools, key data gaps and the need to achieve adequacy of macrofinancial risk analysis. One conclusion from the paper is the suggestion to develop national statistics for enhanced risk analysis.