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International Monetary Fund
Vanuatu has maintained macroeconomic stability, but real GDP growth slowed despite the receipt of considerable foreign assistance and the implementation of structural reforms under the Comprehensive Reform Program (CRP). A sharp increase in liquidity, a consequent bulge in consumption, and a rise in imports have affected Vanuatu's recent economic performance. Inflation, as measured by the consumer price index for the main urban centers, has remained moderate in recent years. The paper also discusses prices and population, financial sector, and external sector developments of Vanuatu.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund. Secretary's Department

Abstract

The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.

Ronald Reagan

Abstract

On behalf of the American people, I am delighted to welcome you to Washington for your Thirty-Sixth Annual Meeting. It seems your deliberations take on added importance each year, and this year will be no exception. I believe your meeting can strengthen the national resolve and international cooperation required for the global economic recovery and growth we all are striving to achieve.

International Monetary Fund. Secretary's Department

Abstract

I should like very briefly to say how appreciative I am of the words of welcome which have been accorded to Vanuatu on her admission to membership in the World Bank and the Fund. It is with sincere pride and pleasure that my country takes her place in this forum this week for the first time.

International Monetary Fund. Secretary's Department

Abstract

The management and Executive Directors of both the Fund and the World Bank deserve to be complimented on their achievements during the past year and on their Annual Reports. Unfortunately, the excellence of these Reports is not matched by the state of the world economic situation they analyze. Once again the Annual Reports tell the tale of continued inflation, slow growth, high unemployment, and large payments imbalances, and once again the world economic outlook for the year ahead is gloomy. Part of this is cyclical and part still represents the aftermath of the sustained upsurge in energy costs in recent years. But much of it is the inevitable consequence of past mistakes in the form of excessive money creation and government spending, unrealistic interest and exchange rates, undue reliance on mandatory price and wage controls, unjustified protectionism, the inordinate use of subsidies, and a general lack of financial discipline.

International Monetary Fund. Secretary's Department

Abstract

I would like to report to you briefly on the recent meeting of the Interim Committee but before commencing, I would like you to know that it has been an honor and a privilege for me to have been called upon to be the Chairman of the Interim Committee. It is a pleasure to make this report to you. The communiqué issued at the end of the meeting, held on September 26 and 27, covers the principal topics considered by the Committee. I shall only elaborate a little on some of the issues discussed.