Fiji’s foreign reserves have reached $3.9 billion, marking the highest nominal dollar value recorded in the country’s history.

The level of reserves provides Fiji with a financial buffer against external shocks and reflects continued economic activity and financial inflows, according to the statement.

The milestone comes as Fiji continues to navigate a challenging global economic environment marked by the effects of the COVID-19 pandemic, conflicts in Europe and the Middle East, fluctuating fuel prices, rising food costs and ongoing pressure on international supply chains.

For Fiji, as a small island economy, these global developments have created significant challenges and exposed the country to disruptions beyond its direct control.

Maintaining reserves at the current level strengthens Fiji’s capacity to respond to potential external disruptions and economic shocks.

The achievement also reflects contributions from businesses, investors, workers and communities across the country, whose economic activity continues to support Fiji’s recovery and resilience.