Tuvalu: 2010 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Tuvalu

February 8, 2011

Summary

Recent economic developments of Tuvalu were discussed. Major construction projects to build a wharf and a power station have been completed, and seafarer employment—Tuvalu’s main foreign exchange earning source for the private sector—is weak. The Consolidated Investment Fund (CIF) available for budget financing will be depleted. Freezing wages and reducing travel costs will also be important. Improvements in the banking sector and credit culture will help to support private-sector development. Executive Directors agreed to ensure fiscal sustainability.

Subject: Capital spending, Economic sectors, Expenditure, Income, National accounts, Public debt, Public enterprises

Keywords: Capital spending, CR, GDP, Global, government, Income, ISCR, lack of economies of scale, lending, lending standard, macroeconomic issue, Pacific Islands, Public enterprises, reform program, Tuvalu, Tuvalu's economy, Tuvaluan authorities, windfall earnings

Pages:
42
Volume:
2011
DOI:
https://doi.org/10.5089/9781455216703.002
Issue:
046
Series:
Country Report No. 2011/046
Stock No:
1VUTEA2011001
ISBN:
9781455216703
ISSN:
1934-7685

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