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International Monetary Fund. Asia and Pacific Dept

On behalf of our Fiji authorities, we thank staff for the detailed report and their constructive engagement and work. Our authorities broadly concur with the staffs assessment and will carefully consider the relevant recommendations. Latest Economic Developments and Outlook Fiji’s economic fundamentals are firm . In 2017, the Fijian economy is estimated to have grown by 4.2 percent, above its potential of 3-3.5 percent. This is the country’s eighth consecutive year of growth, a feat not achieved since independence in 1970. The Fijian economy has grown

International Monetary Fund
This 2009 Article IV Consultation highlights that Fiji’s growth has been sluggish in recent years because of delays in economic reforms, worsening terms of trade, and political developments that have strained Fiji’s international relations and hurt business confidence. Fiji’s economy is expected to have contracted by 2½ percent in 2009, reflecting the adverse impact of the global crisis on exports and tourism. Recent developments have put considerable pressure on the budget. Executive Directors have supported a tight monetary policy to ensure that inflation returns to low levels and to protect foreign exchange reserves.
International Monetary Fund. Asia and Pacific Dept

Transferable deposits 1,027 1,596 1,661 3,068 3,214 3,653 3,767 Other deposits 2,375 2,347 2,529 2,094 2,494 2,872 3,058 Securities other than shares 289 195 183 119 120 125 116 Nonliquid liabilities 97 52 53 55 71 53 50 (In percent of GDP) Net Foreign assets 18 20 21 23 19 20 19 Credit to private sector 63 58 59 59 62 66 69 Broad money 68 67 68 74 75 79 77 Sources: Fiji Authorities and IMF, Integrated Monetary Database. 1 / Net domestic assets = Net domestic credit + Other items(net) - Capital accounts Table 3. Fiji: Central Government Finances, 2013–22 (in percent of GDP

Mr. Douglas A. Scott and Mr. Christopher Browne

128 131 138 139 131 126 Less: bank service charges -18 -18 -16 -18 -19 -19 -20 -20 -21 -23 -23 -24 -22 GDP at factor cost 575 585 605 613 691 679 711 712 684 741 707 769 709 Memorandum item: Change in real GDP (in percent) — 1.8 3.5 1.3 12.7 -1.7 4.7 0.1 -3.9 8.3 -4.7 8.6 -7.8 Sources: Data provided by the Fiji authorities; and Fund staff estimates. Table 2. Fiji: Gross Domestic Product by Expenditure

International Monetary Fund
This Selected Issues paper focuses on the insolvency of the National Bank of Fiji (NBF). As of June 1995, an estimated two-thirds of its loan portfolio was judged to be nonperforming (7½ percent of GDP), with slim chances of recovery, leaving the bank with a negative net worth estimated at F$170 million. The Reserve Bank of Fiji (RBF) raised concerns about the NBF’s lending practices as early as 1991, but it lacked the power to enforce a solution. The problems continued to grow until the NBF’s liquidity position finally became untenable in 1994.
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
This paper reviews Fiji’s growth performance since the late 1960s and empirically examines the factors underlying its weak performance. It concludes that Fiji’s growth performance, like most of the other Pacific island economies, has been constrained by its remoteness and vulnerability to external shocks. The main constraints to growth associated with small island economies are reviewed along with developments in the policy framework. The paper also analyzes Fiji’s growth performance and output behavior from different angles using three approaches: the Hodrick-Prescott filter, a growth accounting framework, and a reduced form equation.
International Monetary Fund

price pressures are anticipated to remain weak, the 2002 year-end inflation is projected at 2.5 percent. Mainly as a result of a timely policy response by the Fijian authorities, the external sector continued to hold up well in 2001. Despite a higher merchandise trade deficit largely reflecting lower demand for Fiji’s exports and a rise in imports of capital goods, strong recovery in tourism income and improved private transfers have narrowed the current account deficit to 3.6 percent of GDP in 2001. At end March 2002, gross foreign reserves remained at a

International Monetary Fund. Asia and Pacific Dept

On behalf of our Fiji authorities, we would like to thank the IMF mission team for the comprehensive and constructive policy dialogue during the 2019 Article IV consultation. The consultation provided valuable opportunities to discuss the progress of home-grown policies as well as reforms that Fiji is currently undertaking. We appreciate staffs understanding of the domestic economy and acknowledgement of the country-specific challenges, as well as the authorities’ policies and objectives. The authorities broadly concur with the thrust of staffs appraisal and

International Monetary Fund. Asia and Pacific Dept

business environment and in governance are essential to raise potential growth and boost private investment, and to enhance productivity and competitiveness. Another priority should be to tackle the gender gap in labor force participation in order to boost potential growth and make it more inclusive. Disclaimer . The Staff Report prepared by a staff team of the IMF for the Executive Board’s consideration on February 24, 2020. The staff report reflects discussions with the Fiji authorities in December 2019 and is based on the information available as of December 15