Vanuatu: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vanuatu

October 31, 2016

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Vanuatu: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vanuatu, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This 2016 Article IV Consultation highlights that Vanuatu’s economy is gradually recovering from the extensive damages caused by Cyclone Pam, which hit the country in March 2015. The cyclone led to a decline in GDP of about 0.8 percent in 2015. The current account deficit widened to 11 percent of GDP in 2015 from an average of 3 percent of GDP in the previous three years. Near-term prospects are favorable, but risks to the outlook are tilted to the downside. Real GDP growth is expected to reach 4 percent in 2016 and 4.5 percent in 2017 driven by the recovery in tourism and agriculture, and further ramping-up of infrastructure projects.

Subject: Environment, External debt, Infrastructure, National accounts, Natural disasters, Public and publicly-guaranteed external debt, Public debt

Keywords: Asia and Pacific, Australia and New Zealand, CR, Government, Government finances, Inflation pressure, Infrastructure, Infrastructure plan, ISCR, Monetary policy stance, Natural disasters, Pacific Islands, Public and publicly-guaranteed external debt, Real GDP, U.S. dollar, Vanuatu authorities

Publication Details

Pages:

86
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/336
Stock No:

1VUTEA2016001
ISBN:

9781475550610
ISSN:

1934-7685

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