Tuesday, 11 August 2009
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Native Land to be "Acquired" from Indigenous Fijians
Fiji's sugar industry likely won't be able to meet from its own production an annual contract to supply Tate & Lyle PLC (TATE.LN), but the industry is rebuilding and has a viable future, Renuka Mahadevan, a senior academic at the School of Economics, University of Queensland, said Tuesday.
"The reason I say it is viable is because the government is going to step in, acquire land and go ahead with commercial farming," she told Dow Jones Newswires on the sidelines of an update on Fiji for the Australian parliament organized by Australian National University.
The economic outlook for Fiji is bleak, with the gross domestic product to contract by at least 5%.
Three factors underpin the "very bleak" outlook for Fiji's economy, including the impact of the global financial crisis, which has compounded the dire consequences of the political situation, and ongoing unstable and sluggish growth since a political coup in 2000, she said.
In Summary what this coup apologist is saying is that the 2000 coup caused Fiji's "very bleak" outlook, but she is optimistic because Frank Bainimarama's illegal "government is going to step in, acquire land and go ahead with farming".
Ref: Ray Brindal,Dow Jones.
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