Frank and Aiyaz’s regime beginning to default on their loans
RFN says : Now here is another proof that Frank and Aiyaz are leading Fiji to bankruptcy.
In their most recent ratings released in 12th January, 2012, Standard and Poor rated Australia number 1 while its coup riddled neighbour Fiji was rank 116 out of 128 countries listed.
Fiji was at the bottom with Ghana, Rwanda, Greece and Pakistan.
And Moody’s ratings on latest Country default spreads and risk premiums as at Jan 2012 puts Fiji at 12% ” which explains why the new Fiji Infrastructure bonds are now being issued onshore and not going offshore as was done last March where we got 9% interest.If we go out for international bonds now we will be looking at 12% to 13% to 14% interest – our situation has detriorated and it shows on these latest risk ratings from Moody’s,” said Realjack.
Let’s hear more from Realjack.
by realjack
this is the second default ( the first loan repayment default was in 10th December 2011 - the other default was in November 2011 – so its now a series of defaults over the last two months
in 2009 we defaulted on the EXIM bank one – for the FSC restructure. that was also listed, albeit as a Fiji Government guranteed debt
these are the Chinese debts which we are starting to default on – and its already two defaults. One in November and the other one in December
(btw there’s another big one coming up in March – thats $22 million USD coupon for the one Aiyaz got us into last March – the Euro bonds one)
anyway as for the Chinese : the Chinese Govt is now going to learn what the RFMF has excelled at over the last two decades – busting its budget and failing to pay its debts ala the Auxilliary Unit and all that
sa na vakarau tekivu qo na pusi kalavo.
sa rau na qai veikilai qo na pusi mai Jaina vata kei na kalavo mai Delainabua
Koya la na sere ya…..”Sa seavu tiko yani vakamalua na kemu kamica……”
