Vanuatu: Staff Report for the 2015 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument
June 16, 2015
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This 2015 Article IV Consultation highlights that Vanuatu’s Real GDP is expected to decline by 2 percent in 2015 because of the cyclone damage to Vanuatu’s main export sectors—tourism and agriculture—which will be only partially offset by reconstruction activities and infrastructure investment. Risks to the outlook are biased to the downside since reconstruction may be constrained by availability of funding and by implementation capacity. Public sector recovery needs are estimated at about 20 percent of GDP. In 2016, a recovery in tourism and agriculture combined with further ramping-up of infrastructure projects is expected to propel growth to 5 percent.
Subject: Banking, Central banks, Environment, External debt, Infrastructure, International reserves, National accounts, Natural disasters, Public debt
Keywords: Asia and Pacific, Australia and New Zealand, authorities' effort, CR, current account, executive board's discussion, financial support, GDP, Global, housing stock, Infrastructure, International reserves, ISCR, Natural disasters, Pacific Islands, recovery needs, Vanuatu cope
Pages:
85
Volume:
2015
DOI:
Issue:
149
Series:
Country Report No. 2015/149
Stock No:
1VUTEA2015001
ISBN:
9781513531021
ISSN:
1934-7685
