IMF Staff Country Reports

Fiji: Staff Report for the 2002 Article IV Consultation

Publication Date:

January 8, 2003

Electronic Access:

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Summary:

This 2002 Article IV Consultation highlights that following the political crisis, Fiji experienced sharp declines in tourism earnings, while external sanctions adversely affected investment and textile exports. As a result, GDP fell 2¾ percent in 2000, and the current account deficit widened to 6½ percent of GDP. Financial stability and the basket peg of the Fiji dollar were maintained through tightening of domestic monetary policy and exchange controls, together with government spending cuts to offset the impact of weaker growth on the fiscal deficit.

Series:

Country Report No. 2003/008

Subject:

Exchange restrictions Expenditure External debt Foreign exchange Public debt Revenue administration