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Business and Economics > Budgeting

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Cover IMF Staff Country Reports
Vanuatu: 2006 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
International Monetary Fund
This 2006 Article IV Consultation highlights that following two years of contraction, output growth in Vanuatu recovered beginning in 2003, spurred by stronger performance in construction and a pickup in tourist arrivals. Growth reached 7 percent in 2005 and an estimated 5½ percent in 2006, well above the average for Pacific island countries. The overall external balance has benefited from rising foreign direct investment, aid, and private capital inflows, with reserves increasing to more than 7 months of imports. If good macroeconomic policies continue and political stability is maintained, near-term prospects are positive.
Keywords:
ISCR; CR; government; government finance; supervision; Vanuatu; Vanuatu authorities; basket exchange rate peg system; authorities initiative; placing Vanuatu; Public sector wages; Imports; Government wage bill; Budget planning and preparation; Pacific Islands