Fed: Cap of $500 imposed on refunds of Fiji holiday deposits

AAP General News (Australia)
12-11-2006
Fed: Cap of $500 imposed on refunds of Fiji holiday deposits

SYDNEY, Dec 11 AAP - Australians who have cancelled their travel plans to Fiji will
be given refunds of up to $500 on their holiday deposits as the Pacific nation imposes
strict controls on currency flows.

Fiji's Reserve Bank is expected to not devalue the nation's currency today when Deputy
Governor Sada Reddy meets Frank Bainimarama, the military leader who staged last week's
coup.

The Australian newspaper reports that devaluing the Fijian dollar would give only a
short-term benefit.

Fiji Chamber of Commerce vice-president Swami Maharaj said there would also be strict
control of foreign currency transactions, with a refund limit of $500 on holiday deposits.

This is needed to stop resort operators getting money out of the country through large
refunds, he said.

The amount of currency people are allowed to take out of Fiji has also been cut from
$20,000 to $5,000.

AAP nr/rs

KEYWORD: FIJI AUST REFUNDS

2006 AAP Information Services Pty Limited (AAP) or its Licensors.