## bislama-version-vanuatu-2025-article-iv-press-release ## Source details **Canonical URL:** [bislama-version-vanuatu-2025-article-iv-press-release](https://www.imf.org/-/media/files/news/press-release/2025/bislama-version-vanuatu-2025-article-iv-press-release.pdf) ## Other formats - [Markdown version](/-/media/files/news/press-release/2025/bislama-version-vanuatu-2025-article-iv-press-release.pdf.md) - [Structured JSON version](/-/media/files/news/press-release/2025/bislama-version-vanuatu-2025-article-iv-press-release.pdf.json) --- ### Economic outlook and shocks - IMF staff find: Ekonomi blong Vanuatu bambae i rikava sloslo. - Growth projections: - "ekonomi bambae hemi gro long 1.6 persen long yia 2025 mo 2.6 persen long yia 2026." - "strong slodaon long yia 2024." - Key shocks driving the downturn: - "liquidation blong Air Vanuatu long Mei 2024" - "wan bigfala earthquake long Disemba 2024" - "ol tri cyclone long 2023" - Inflation and reserves: - "hedlaen inflation i kambak daon mo hemi stap insaed long taket band blong Risev Bank blong Vanuatu (RBV)." - "Inflation i save ko go antap smol, mo bae hemi stap yet insaed long target band kasem long en blong yia ya." - "Foreign reserves i stap long wan stret level, tangkiu long sapot blong ol bilateral mo multilateral donar partnas, remittance, mo recovery blong tourism reveniu." - "Nomata long hemia level blong reserves i stap go daon sloslo." - External sector: - "bambae current account deficit hemi bigwan yet long 2025 from ol impots oli stap go antap." ### Fiscal outlook and recommendations - Fiscal developments: - "Fiskol deficit bambae hemi go antap moa long yia 2025, from se reveniu blong Gavman i stap foldaon mo Gavman i mas spendem moa mani afta long earthquake." - "Long fiskol saed, deficit blong gavman bambae hemi go antap long 2025 from reveniu (mane i kam insaed long basket blong gavman) bae hemi foldaon mo spending (mane we gavman bae hemi spendem) hemi go antap." - "Bigfala part blong olketa ekstra spending ya i go long wok blong buildim infrastraka bakegen afta long earthquake, mo provaedem sapot long olketa haoshol." - Policy recommendations: - "Gavman i save lukluk blong kat gudfala mix blong olketa fiscal polisis we i nid blong putum praoriti long sapot... blong leftemap wok blong bildim bak olketa impoten infrastraka bakegen." - "provaedem wan strong mo klia strategi blong medium-term konsolidation blong holem taet debt long wan level we i sastenabol." - "i impoten blong putum priority mo targetem gud olketa spending wetem fokus blong buildim bakegen ol critical infrastructure mo protektem mo sapotem olketa volnarabol haoshold, wetem wan strong kontrol long inkris blong diskretionari public sekta wage." - "Budget 2025 i talem klia se i nid blong karem moa reveniu mo stretim gud ol spending." - "i mas gat strong wok... blong karem moa reveniu—olsem we Budget 2025 i bin highlightem—mo mekem wan ful review mo wan ful approach blong rationalisem spending, blong mekem sua se gavman i save buildap bakegen fiscal buffer long medium-term." - "i impoten blong refokas blong developem domestic gavman bond market blong provaedem wan stable mo sustenabol faenansing alternative long gavman." ### Monetary policy and central bank reforms - Recent actions: - "Long June 2025, RBV i mekem disisen blong no jenisim policy rate blong hem, blong sapotem ekonomik recovery, lukluk se level blong inflation i stabol mo foreign reserves i stap yet long wan stret level." - "Monetary policy i stret wetem kondisen blong ekonomik activiti long fes haf blong 2025." - Institutional reform: - "ol wok blong RBV, long saed blong gudfala governance, mo independence blong hem bambae i go strong moa folem legislative reform we i stap gohed blong jenisem RBV Act." - "Jenis ia bambae i mekem RBV Act i stret wetem ol international best practice, mo blong strengthenem independence blong central bank." - "Hemia i includem wan plan blong phase-out blong monetary faenansing, we i minim RBV bae i no moa givim direct faenansing hemi go long gavman, mo blokem crowd-out long olketa gudfala credit we private sektor i save kasem." ### Financial sector stability and supervision - Current status and risks: - "Finansol sektor blong Vanuatu i stable, be i nidim strongfala sefgaed blong protektem hem agens ol vonarabiliti mo systemic risk we i save kamap." - "Ol non-performing loan (NPL) we i stap hae longtaem i kam i soemaot se prudensel framewok mo kapasiti blong supervision i mas go strong moa." - "I mas gat moa efot blong lesenem olketa risks we i kamaot from strong link bitwin gavman mo ol bank (sovereign-bank nexus), mo ol shock we i save kam from liquidity problem long saed blong foreign currency." - Recommended actions: - "ol wok blong RBV... i mas inkludum ol regula on saet inspeksen blong ol faenansel institusen, putum strong underwriting standard blong lon, mo mekem sua oli gat stret level blong provisening." - "putum wan strong mo klia resolution framework blong olketa faenansel institusens we i stap long trabol. Framework ya bambae i help blong deal wetem ol failia long sistem long wan timely mo orderly fasin, mo i protektem faenansel stabiliti long kaontri." ### Governance, anti-corruption, and SOE reform - Priorities: - "Stretem gud fasin blong gavanance mo daonem level blong korapsen i stap olsem olketa top prioritis." - "Wan efektiv implementesen blong Commercial Government Business Enterprises Act bambae i help blong impruvum lukluk mo perfomens blong olketa Stat-Ond Enterpraes (SOEs)." - Measures recommended: - "Hemia i includem gudfala implemetesen blong Commercial Government Business Enterprise Act, blong mekem oversight mo performance blong ol State-Owned Enterprise (SOEs) i go strong mo i stap fri long political influence, klosem olketa gaps long public faenansel management system mo mekem olketa anti-korapsen measures oli go moa strong." - "Hemi impoten blong gavman hemi strengtenem faenansol integrity, praktisim gudfala gavanance, mo faet agensem korapsen blong mekem sistem i transparen mo akaontabol." ### AML/CFT, high-risk areas, and institutional capacity - Vulnerabilities: - "olketa efot I mas gohed blong stretem ol strakjarol jalens olsem shortage blong wokman mo skil, wetem olketa risks blong klaemet jenis." - "espeseli long ol high-risk area olsem Economic Citizenship Program (ECP) mo virtual asset sektors." - Recommendations: - "i impoten blong adoptem wan risk-based approach long supervision blong Anti-Money Laundering mo Counter Financing of Terrorism (AML/CFT), wetem strong wok blong buildim kapasiti blong ol institusens, blong stretim ol weakness." - "openem akses blong Vanuatu long climate finance mo olketa intanasenel sapot." ### Structural challenges, human capital, and climate resilience - Structural constraints: - "Vanuatu hemi facem hae risk blong natural disasta, sot long skil mo wokman, problem blong gavanance mo politik oli stap mekem kantri I kam mo volnarabel long olketa shocks." - Policy priorities: - "promotem investment in quality edukesen mo vokesenel trening, blong mekem pipol oli kasem gudfala skill mo save redi blong wok." - "promotem entrepreneurship, mekem ol niufala bisnes oli save gro, mo krietem moa wok i kam antap." - "putum strong emphasis, mo mekem olketa woman oli save patisipet moa long formal labor market wan step blong mekem inklusive growth i kam tru." - "invest in resilient infrastrakja we i save stanap strong long natural disasta mo developem tu early warning system mo ol response mekanism blong protectem komuniti mo ekonomi." ### Mission timing and acknowledgement - Mission dates and leadership: - "Long 10 Julae kasem 23 Julae 2025." - "IMF, we Mr. Mike Li i lidim." - "Washington D.C., – 22 Julae 2025" - Closing acknowledgement: - "IMF tim i wantem talem bigfala tangkiu long ol otoriti blong kantri from olketa open mo konstruktiv diskasens, mo from gudfala hospitaliti." *Source: bislama-version-vanuatu-2025-article-iv-press-release (IMF staff press release content)* --- _Source: https://www.imf.org/-/media/files/news/press-release/2025/bislama-version-vanuatu-2025-article-iv-press-release.pdf_