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The Reserve Bank of Fiji says while the full impact of Cyclone Mick on the economy is difficult to assess at this stage, prices of vegetables and other food crops will increase.
RBF Governor Sada Reddy said initial reports suggested that while there had been no significant damage to infrastructure, the agricultural sector had suffered major damage, especially food crops.
“This will have short term effect of vegetable shortages and thus increases in prices of vegetables and other food crops,” Reddy said.
“The cyclone may have some adverse effects on tourism and agro-based industries,” he said.
“The full impact on the economy is difficult to assess at this stage but it will have some downside effects.”
Reddy called on financial institutions to help those affected financially by making temporary adjustments to repayments and to extend credit for replanting and business resumptions.
