Australia: Selected Issues

October 23, 2006

Preview Citation

Format: Chicago

Australia: Selected Issues, (USA: International Monetary Fund, 2006) accessed September 18, 2024

Summary

Australia’s large external deficits appear sustainable. There are, however, risks associated with the resulting external debt that need continued careful management. These deficits, which largely reflect high investment rather than low saving, should be sustainable as long as the Australian economy, especially its exports, grow strongly. The associated accumulation of foreign liabilities nonetheless leaves the country exposed to shocks, but these risks appear to be well managed. Australia’s fiscal policy appears to be broadly consistent with guidelines for fiscal management in the face of commodity price swings.

Subject: Balance of payments, Commodity prices, Current account deficits, Export prices, External debt, International trade, Prices, Terms of trade

Keywords: Commodity, Commodity export, Commodity price, Commodity prices, CR, Current account deficit, Current account deficits, Current account reversal, Deficit, Export prices, Forecasting commodity market, GDP growth, Global, ISCR, Terms of trade

Publication Details

Pages:

30
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/373
Stock No:

1AUSEA2006002
ISBN:

9781451802108
ISSN:

1934-7685

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