This paper highlights that the financial activity of the IMF reached a new peak in the first three quarters of 1981 in terms of the number of arrangements with members involving high conditionality on the use of the IMF’s resources, the total amount of resources committed under existing arrangements, and the magnitude of actual purchases. There were 25 stand-by arrangements in effect at the end of September 1981, as well as 16 extended arrangements. The total amount of resources made available to member countries in the first nine months of 1981 was SDR 9.3 billion.
This Selected Issues paper on Samoa reviews limitations to the existing framework of monetary policy, and suggests ways to improve its effectiveness. It examines current instruments at the disposal of the central bank to conduct monetary policy, before showing why monetary policy execution can be sometimes difficult. It also shows that such problems are not uncommon in economies with shallow financial markets. The paper also takes stock of developments since the early 1990s, and asks what major impediments to sustained private development remain.
International Monetary Fund. Asia and Pacific Dept
Eighteen months after Cyclone Pam struck Vanuatu, the economy continues to recover from the cyclone's extensive damages. Reconstruction efforts are beginning to yield positive results, allowing increasing use of Port Vila's international airport, the reopening of damaged hotels, and the return of tourists to the islands. These encouraging developments augur well for a full recovery in the near future.