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The Board of Directors of the Fiji Development Bank (FDB) is pleased to announce the appointment of Mr. Filimone Waqabaca as the Chief Executive Officer (CEO) of the Bank, effective from 15 January 2025. The Board is delighted that Mr. Waqabaca has accepted the role and looks forward to welcoming him on board.

Mr. Waqabaca brings extensive experience and knowledge to the FDB, having built a highly successful career in the finance and banking regulatory sectors both in Fiji and internationally. Currently serving as Fiji’s Ambassador Extraordinary and Plenipotentiary to Japan, he previously held the position of Fiji’s High Commissioner to New Zealand. Prior to his diplomatic postings, Mr. Waqabaca accumulated substantial experience across national, regional, and international financial institutions.

Academically, Mr. Waqabaca holds a Bachelor of Arts degree in Economics and Management from the University of the South Pacific (1989) and a Master of Science in International Banking & Financial Studies from the University of Southampton, United Kingdom (1997). His distinguished 35-year career includes key executive roles at the Reserve Bank of Fiji (RBF), the Pacific Islands Forum Secretariat (PIFS), the International Monetary Fund (IMF), and Fiji’s Ministry of Finance and Ministry of Foreign Affairs.

Mr. Waqabaca began his career at the RBF in 1989 as a Graduate Technical Assistant in the Research Department. Over the next eight years, he advanced through various roles, including Senior Analyst, Manager Banking and Registry, Manager Liquidity Management, Manager Monetary and Exchange, Senior Economist, and Economic Adviser in the Economics Department. In 1999, he joined the Pacific Islands Forum Secretariat as an Economic and Policy Analyst. He returned to the RBF in 2003 as a Senior Adviser in the Economics Department, before being promoted to Chief Manager of the Economics Group in 2005.

In 2007, Mr. Waqabaca was appointed Advisor to the Executive Director – South-East Asia Constituency Office at the IMF in Washington, DC. He returned to the RBF in 2009 as Chief Manager of the Financial Systems Development & Compliance Group. Subsequently, he was appointed Permanent Secretary of the Ministry of Finance in February 2011, a position he held until December 2015. In 2015, he also served as Permanent Secretary for Strategic Planning, National Development, and Statistics.