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Business and Economics > Banks and Banking

You are looking at 1 - 10 of 24 items for :

  • Type: Journal Issue x
  • Fiji, Republic of x
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Cover IMF Staff Country Reports
Solomon Islands: Technical Assistance Report-Central Bank Risk Management
International Monetary Fund. Monetary and Capital Markets Department
At the request of the Central Bank of Solomon Islands (CBSI), a Monetary and Capital Markets Department (MCM) mission provided technical assistance on central bank risk management during the period August–September 2021. The mission comprised Mr. Paul Woods (Central Bank of Ireland) and Mr. Chris Aylmer (formerly with the Reserve Bank of Australia), under supervision of Mr. Ashraf Khan (MCM, Central Bank Operations Division) The purpose of the mission was to guide the CBSI on how to establish an Enterprise Risk Management (ERM) framework. The mission focused in particular on establishing a strengthened risk culture throughout the organization, and strengthening risk governance - including the role of the CBSI’s risk management unit.
Keywords:
CBSI risk governance; CBSI Risk Appetite Statement; sub Risk Management Unit; CBSI risk management framework; CBSI leadership team; Operational risk; Central bank risk management
Cover Departmental Papers
Measuring Financial Access: 10 Years of the IMF Financial Access Survey
Marco A Espinosa-Vega
,
Ms. Kazuko Shirono
,
Mr. Hector Carcel Villanova
,
Ms. Bidisha Das
, and
Ms. Yingjie Fan
This departmental paper marks the 10th anniversary of the IMF Financial Access Survey (FAS). It offers a retrospective of the FAS database, along with some reflections as to its future directions. Since its 2009 launch, the FAS has provided granular data on access to and use of financial services. It is a supply-side database with annual global coverage based on data sourced directly from financial service providers—aimed at supporting policymakers to target and evaluate financial inclusion policies. Its data collection has kept pace with financial innovation, such as the rise of mobile money and growing demand for gender-disaggregated data—and the FAS must continue to evolve.
Keywords:
DPPP; DP; FAS indicator; FAS data; FAS usage indicator; FAS gender; FAS Coverage; FAS data collection; internet banking; agent outlet; money agent; Mobile banking; Financial inclusion; Commercial banks; Financial statistics; Global; South Asia; Sub-Saharan Africa; Mobile internet; Asia and Pacific
Cover IMF Staff Country Reports
Republic of Fiji: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Fiji
International Monetary Fund. Asia and Pacific Dept
This 2019 Article IV Consultation with the Republic of Fiji highlights that economic activity slowed sharply in 2019 due to lower government spending, tighter domestic financial conditions, weak sentiment, and the global deceleration. The slowdown followed several years of relatively strong growth, boosted by reconstruction spending after a major cyclone in 2016, which resulted in rising external and fiscal imbalances. Fiscal space is now at risk and external vulnerabilities remain significant. Fiji has large investment needs to strengthen resilience to natural disasters and climate change. A key priority should be to rebuild fiscal buffers in a growth-friendly way to create space to respond to future natural disasters and to ensure public debt sustainability. Fiscal consolidation should focus on reining in current spending given limited scope for further revenue mobilization and the need for capital spending to improve resilience to climate change. Improvements in the business environment and in governance are essential to raise potential growth and boost private investment, and to enhance productivity and competitiveness.
Keywords:
ISCR; CR; authority; Fiji; economy; Fijian authorities; Fijian economy; priority investment; growth outlook; long-term climate action plan; Anti-money laundering and combating the financing of terrorism (AML/CFT); Government debt management; Credit bureaus; Global; Pacific Islands; International reserves
Cover IMF Staff Country Reports
Republic of Fiji: 2018 Article IV Consultation-Press Release and Staff Report
International Monetary Fund. Asia and Pacific Dept
This Article IV Consultation highlights that the economy is recovering well from several natural disasters, supported by accommodative fiscal and monetary policies. Growth performance picked up in recent years with improved political stability, though average growth rates were still lower than in other emerging and developing countries. Fiscal buffers have been used and external conditions, including oil prices and growth prospects of main trading partners, are becoming less favorable. Improving the overall business environment and governance is expected to raise potential growth by mobilizing private investment, enhancing productivity, and diversifying the economy. An improvement in the overall business environment is essential to achieve the ambitious growth targets laid out in the National Development Plan. Streamlining procedures to do business, accelerating the activation of the credit reporting agency, and reducing tax compliance costs has been recommended.
Keywords:
ISCR; CR; government; pension savings withdrawal; Fiji; appraisal; headline inflation; investment regime; growth momentum; staffs appraisal; Commercial banks; Fiscal stance; Credit bureaus; Pacific Islands
Cover Resilience and Growth in the Small States of the Pacific
Resilience and Growth in the Small States of the Pacific
Hoe Ee Khor
,
Mr. Roger P. Kronenberg
, and
Ms. Patrizia Tumbarello

Abstract

Pacific island countries face unique challenges to realizing their growth potential and raising living standards. This book discusses ongoing challenges facing Pacific island countries and policy options to address them. Regional cooperation and solutions tailored to their unique challenges, as well as further integration with the Asia and Pacific region will each play a role. With concerted efforts, Pacific island countries can boost potential growth, increase resilience, and improve the welfare of their citizens.

Keywords:
BOOK; GDP; GDP-weighted distance; financial crisis; market share; U.S. dollar; lending rate; real GDP; Natural disasters; Inflation; Income; Pacific Islands; Global; Asia and Pacific; Australia and New Zealand; Caribbean; IMF staff estimate; IMF staff calculation; business climate shortcoming; Climate change
Cover IMF Staff Country Reports
Papua New Guinea: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper provides an overview of financial access and inclusion indicators, related causal factors, and both current and possible reform priorities for on Papua New Guinea (PNG). The paper presents indicators of financial market depth, development, and access for PNG and compares PNG’s performance against that of other countries in the region, at similar levels of development, and beyond. It provides an overview of country-specific challenges facing PNG related to financial inclusion that helps to explain its performance, as well as possible reform priorities in the near term. The government’s current initiatives aimed at promoting financial sector development and inclusion and their preliminary results are also discussed.
Keywords:
ISCR; CR; FX; exchange rate; PNG government; central bank; banks in PNG; PNG economy; road transport infrastructure; PNG's progress; asset base; PNG score; PNG authorities' effort; FX market mechanism; Currency markets; Natural resources; Asia and Pacific; East Asia; Sub-Saharan Africa; Global; South Asia; Pacific Islands
Cover IMF Working Papers
What Drives Interest Rate Spreads in Pacific Island Countries? An Empirical Investigation
Mr. Fazurin Jamaludin
,
Mr. Vladimir Klyuev
, and
Anuk Serechetapongse
Growth has been sluggish in Pacific island countries (PICs). High cost of credit is likely one of the reasons. While the small scale, geographic dispersion, and vulnerability to shocks increase the cost and risk of credit in this country group, there is considerable variability in interest rate spreads both across countries and over time. This paper examines the determinants of lending rates and interest rate spreads in a panel of six PICs, extending the literature that was largely descriptive in nature or focused on a single country. Our results are in line with economic theory. We find that the size of the economy is negatively correlated with spreads, confirming the importance of scale. Inflation appears to have only marginal impact on spreads. High loan loss provisions and nonperforming loans increase the cost of credit. So does banking system concentration. Higher institutional quality is associated with lower spreads.
Keywords:
WP; loss provision; lending rate; deposit rate; market power; interest rates; banking systems; Pacific island countries; bank assets; interest income; PIC bank; capitalized bank; banks ANZ; lending activity; loan portfolio; loan market; bank taxation; market concentration; asset quality; Commercial banks; Loans; Deposit rates; Loan loss provisions; Income; Pacific Islands; Caribbean
Cover Policy Papers
Asia and Pacific Small States - Raising Potential Growth and Enhancing Resilience to Shocks
International Monetary Fund
The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards. These countries are particularly vulnerable because of their small populations, geographical isolation and dispersion, narrow export and production bases, lack of economies of scale, limited access to international capital markets, exposure to shocks (including climate change), and heavy reliance on aid. In providing public services, they face higher fixed government costs relative to other states because public services must be provided regardless of their small population size. Low access to credit by the private sector is an impediment to inclusive growth. Capacity constraints are another key challenge. The small states also face more limited policy tools. Five out of 13 countries do not have a central bank and the scope for diversifying their economies is narrow. Given their large development needs, fiscal policies have been, at times, pro-cyclical. Within the Asia-Pacific small states group, the micro states are subject to more vulnerability and macroeconomic volatility than the rest of the Asia-Pacific small states.
Keywords:
PP; IMF staff calculation; Pacific small states; country authorities; real GDP; Pacific region; terms of trade; Asia-Pacific small state government; private sector; Income; Terms of trade; Inclusive growth; Asia and Pacific; Pacific Islands
Cover IMF Staff Country Reports
Republic of Fiji: 2011 Article IV Consultation
International Monetary Fund
This 2011 Article IV Consultation reports that Fiji’s economic outlook appears stable, but there are downside risks related to the political situation, structural weaknesses, and the global environment. The 2012 budget has proposed much-needed fiscal consolidation, though marginal income tax rate reductions will make it difficult to achieve deficit targets. Monetary policy is accommodative, given the currently benign inflation outlook, but continued vigilance against future inflationary pressure is critical, and credit growth targets should be avoided.
Keywords:
ISCR; CR; government; rate; Fiji; SME lending guarantee scheme; lending; headline inflation; debt ratio; reform effort; Fijian authorities; core inflation; Inflation; Balance of payments statistics; Budget planning and preparation; Global; Pacific Islands
Cover IMF Staff Country Reports
Republic of Fiji: 2010 Article IV Consultation-Staff Report and Public Information Notice on the Executive Board Discussion
International Monetary Fund
Fiji’s economy has contracted by 3 percent in 2009, and marginal growth is estimated for 2010. Foreign exchange reserves have improved steadily following the April 2009 devaluation and stood at over 4 months of imports (US$710 million) at end 2010. Fiji’s economic growth was low in the past few years and the structure of the economy remained broadly unchanged. The weak business climate results in sluggish private investment and is the major impediment to economic growth in Fiji. Fiji’s economy––especially tourism and finance––is linked closely to its regional neighbors.
Keywords:
ISCR; CR; monetary policy; rate; current account; balance of payments; interest rate; state-owned company; FNPF reform; RBF action; economic growth; IMF's view; investment climate; Exchange restrictions; Agricultural commodities; Price controls; Imports; Global