Vanuatu: 2006 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, March 5, 2007
Source details
- Canonical URL
- Vanuatu: 2006 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
Other formats
Bibliographic details
- Published: March 5, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451840575.002
Executive summary and macroeconomic outlook
- Following two years of contraction, output growth in Vanuatu recovered beginning in 2003, spurred by stronger performance in construction and a pickup in tourist arrivals.
- Growth reached 7 percent in 2005 and an estimated 5½ percent in 2006, well above the average for Pacific island countries.
- If good macroeconomic policies continue and political stability is maintained, near-term prospects are positive.
External sector and reserves
- The overall external balance has benefited from rising foreign direct investment, aid, and private capital inflows.
- Reserves increased to more than 7 months of imports.
Key thematic areas covered
- Budget planning and preparation
- Expenditure
- Government wage bill
- Imports
- International trade
- Labor
- Public debt
- Public financial management (PFM)
- Public sector wages
Keywords and related policy terms
- authorities initiative, basket exchange rate peg system, Budget planning and preparation, CR, government, government finance, Government wage bill, Imports, ISCR, Pacific Islands, placing Vanuatu, Public sector wages, supervision, Vanuatu, Vanuatu authorities
Content in this bundle
- _cr0792 - Executive Summary