Fiji sacks Narube and devalues dollar

The Reserve Bank of Fiji devalued the Fiji dollar by 20% on Wednesday hours after Savenaca Narube, the governor, was removed from the central bank by government officials.

The government, which came to power last week and is led by the islands' army, occupied the central bank and replaced Narube, who had recently voiced concern over the economy's health and forecast a 0.3% contraction for 2009 at the weekend, with Sada Reddy, the deputy governor.

The moves are viewed by observers as part of p