Fiji: Staff Report for the 2002 Article IV Consultation
IMF Staff Country Reports, January 8, 2003
Source details
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- Fiji: Staff Report for the 2002 Article IV Consultation
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Bibliographic details
- Published: January 8, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451813340.002
Economic impact of the 2000 political crisis
- Following the political crisis, Fiji experienced sharp declines in tourism earnings.
- External sanctions adversely affected investment and textile exports.
- As a result, GDP fell 2¾ percent in 2000.
External sector and current account
- The current account deficit widened to 6½ percent of GDP.
Financial stability, exchange rate, and policy response
- Financial stability and the basket peg of the Fiji dollar were maintained through:
- tightening of domestic monetary policy,
- exchange controls,
- government spending cuts to offset the impact of weaker growth on the fiscal deficit.
Subject areas and keywords (as provided)
- Subject: Exchange restrictions, Expenditure, External debt, Foreign exchange, Public debt, Revenue administration
- Keywords: approvals to commercial banks, Asia and Pacific, Australia and New Zealand, CR, current account transaction, Exchange restrictions, Fijian authorities, fiscal policy, foreign exchange dealer, GDP ratio, government, ISCR, monetary policy, Pacific Islands, reserve bank of Fiji
Fiji: Staff Report for the 2002 Article IV Consultation, January 8, 2003.