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Please provide a thorough step by step and detailed explanation for below questions.

Question 1

A country's financial system includes its banks, nonbank lenders; securities markets; pension, mutual, and other investment funds; insurers; and market infrastructures such as central clearing counterparties, payment providers, and central banks, as well as its regulatory and supervisory authorities. These institutions and markets provide a framework for carrying out economic transactions and monetary policy and help channel savings into investment, thereby supporting economic growth.

Required

i. Briefly discuss the structure of the financial system of Fiji Islands.

ii. Briefly discuss five innovations that have taken place in the financial sector for the Fiji Islands.

Question 2

The balance of payments summarizes the economic transactions of an economy with the rest of the world. These transactions include exports and imports of goods, services and financial assets, along with transfer payments (like foreign aid).

Required

i. Briefly discuss the balance of the payment structure for the pacific island country of Fiji.

ii. Discuss the trend of the balance of payment for the past five years for the pacific island country of Fiji.