Vanuatu: 2006 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

March 5, 2007

Preview Citation

Format: Chicago

Vanuatu: 2006 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2007) accessed November 23, 2024

Summary

This 2006 Article IV Consultation highlights that following two years of contraction, output growth in Vanuatu recovered beginning in 2003, spurred by stronger performance in construction and a pickup in tourist arrivals. Growth reached 7 percent in 2005 and an estimated 5½ percent in 2006, well above the average for Pacific island countries. The overall external balance has benefited from rising foreign direct investment, aid, and private capital inflows, with reserves increasing to more than 7 months of imports. If good macroeconomic policies continue and political stability is maintained, near-term prospects are positive.

Subject: Budget planning and preparation, Expenditure, Government wage bill, Imports, International trade, Labor, Public debt, Public financial management (PFM), Public sector wages

Keywords: Authorities initiative, Basket exchange rate peg system, Budget planning and preparation, CR, Government, Government finance, Government wage bill, Imports, ISCR, Pacific Islands, Placing Vanuatu, Public sector wages, Supervision, Vanuatu, Vanuatu authorities

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/092
Stock No:

1VUTEA2007001
ISBN:

9781451840575
ISSN:

1934-7685

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