Fiji’S War Debt To Nz

IT was suggested in November “PIM” that Fiji was caught napping when New Zealand suddenly moved her currency exchange to par with Sterling.

Fiji owes New Zealand some £500,000, in connection with war settlements; and it was feared that, instead of Fiji paying this in the old NZ currency (25 per cent under sterling) it would have to be paid at the new rate—a difference to Fiji of over £lOO,OOO.

The Fiji Finance Secretary, Mr. Taylor, made a quick visit to New Zealand im mediately after NZ announced her currency change.

Mr. Taylor has reported, however, that the settlement he arranged was wholly in Fiji currency and was quite indepen dent of NZ’s exchange rate. The debt is to be paid in ten annual instalments of £50,000 —all in Fiji currency.

All of which seems satisfactory. Yet one cannot help wondering whether, if the half-million had been tendered to NZ a year ago in NZ currency. NZ would not have accepted it happily in NZ currency—which would have saved Fiji about £62,000. However, some of the world’s shrewdest financiers have been caught cold by sudden unexpected dips in exchange.

Miss Barbara Ramjan, who went from Suva to India three years ago, was a member of the staff of the Indian delegation to the ECAFE Conference in Australia in December. She was selected because of her knowledge of English and her expert stenography. The news papers commented on her “attractive personality”, and one published her photograph as “the* Pin-up girl of

Ecafe”.