US$2million support for Pacific Financial Technical Assistance Center (PFTAC)

United States Embassy Chargé d’Affaires Tony Greubel today announced it would contribute US$2 million (FJ$4.07 million) to the Pacific Financial Technical Assistance Center (PFTAC). 

The United States and the International Monetary Fund signed a letter of understanding in Suva this morning to formalise the deal, which also underlines the country’s status as the seventh donor in the fifth phase of PFTAC operations. 

CDA Greubel said, “The United States is very pleased to become, for the first time, a donor to the Pacific Financial Technical Assistance Center (PFTAC), and to join other members and donors in supporting this key regional entity working to promote the macroeconomic stability and development of its Pacific islands members. As a Pacific nation, the United States has a strong and enduring interest in the security, stability, and prosperity of our close partners and neighbors in the Pacific.”   

PFTAC Center Coordinator David Kloeden, CDA Greubel and Reserve Bank of Fiji Deputy Governor Esala Masitabua spoke about the value of PFTAC in the Pacific. CEO of Samoa Ministry of Finance Oscar Malielegaoi shared his experience with the PFTAC training and support to strengthen and stabilize their economy. 

The signing today is part of the US’ $200million-plus commitment that was announced in October 2020.

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