Kiribati: Statistical Appendix

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.

Abstract

Table 1.

Kiribati: Gross Domestic Product by Economic Activity, 1992-96 ^1/

(In thousands of Australian dollars, at 1991 constant prices)

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Preliminary estimates; figures may not add up to totals owing to rounding.

Table 1.

Kiribati: Gross Domestic Product by Economic Activity, 1992-96 ^1/

(In thousands of Australian dollars, at 1991 constant prices)

		1992	1993	1994	1995	1996
Agriculture		3,167	3,253	3,861	3,436	2,990
Fisheries		2,363	1,969	1,958	1,899	1,842
Manufacturing		304	307	309	328	344
Electricity and water		881	908	929	938	947
Construction		935	945	951	989	1,024
Commerce and hotels		6,803	6,833	6,842	7,027	7,238
Transportation and communications		4,523	4,594	4,685	4,746	4,822
Finance and insurance		1,997	1,864	1,777	1,830	1,903
Ownership of dwellings		292	295	300	306	312
Government administration		11,633	11,672	11,704	12,289	12,780
Community and social services		1,150	1,205	1,257	1,307	1,346
	Less: Imputed bank charges	1,760	1,643	1,567	1,598	1,614
GDP at factor cost		32,288	32,201	33,008	33,497	33,934
	Plus: Indirect taxes net of subsidies	3,908	4,283	4,068	4,844	5,084
GDP at market prices		36,196	36,484	37,076	38,341	39,018
Nonmonetary GDP		6,800	6,943	7,089	7,266	7,455
Total GDP at market prices		42,996	43,426	44,164	45,607	46,473
	(In percent)	(-1.6)	(1.0)	(1.7)	(3.3)	(1.9)
Memorandum item:
	Nominal GDP at market prices	45,801	48,337	54,489	64,539	69,702

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Preliminary estimates; figures may not add up to totals owing to rounding.

Table 1.

Kiribati: Gross Domestic Product by Economic Activity, 1992-96 ^1/

(In thousands of Australian dollars, at 1991 constant prices)

		1992	1993	1994	1995	1996
Agriculture		3,167	3,253	3,861	3,436	2,990
Fisheries		2,363	1,969	1,958	1,899	1,842
Manufacturing		304	307	309	328	344
Electricity and water		881	908	929	938	947
Construction		935	945	951	989	1,024
Commerce and hotels		6,803	6,833	6,842	7,027	7,238
Transportation and communications		4,523	4,594	4,685	4,746	4,822
Finance and insurance		1,997	1,864	1,777	1,830	1,903
Ownership of dwellings		292	295	300	306	312
Government administration		11,633	11,672	11,704	12,289	12,780
Community and social services		1,150	1,205	1,257	1,307	1,346
	Less: Imputed bank charges	1,760	1,643	1,567	1,598	1,614
GDP at factor cost		32,288	32,201	33,008	33,497	33,934
	Plus: Indirect taxes net of subsidies	3,908	4,283	4,068	4,844	5,084
GDP at market prices		36,196	36,484	37,076	38,341	39,018
Nonmonetary GDP		6,800	6,943	7,089	7,266	7,455
Total GDP at market prices		42,996	43,426	44,164	45,607	46,473
	(In percent)	(-1.6)	(1.0)	(1.7)	(3.3)	(1.9)
Memorandum item:
	Nominal GDP at market prices	45,801	48,337	54,489	64,539	69,702

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Preliminary estimates; figures may not add up to totals owing to rounding.

Table 2.

Kiribati: Copra Production by Island, 1992-96

(In metric tons)

Source: Data provided by the Kiribati authorities.

Table 2.

Kiribati: Copra Production by Island, 1992-96

(In metric tons)

			1992	1993	1994	1995	1996
Gilbert Islands			9,188	8,853	9,950	9,376	7,687
	Makin		328	153	247	396	271
	Butant		197	202	187	330	124
	Marakei		355	434	387	496	351
	Abaiang		609	288	341	507	218
	Tarawa		254	168	88	189	104
	Maiana		514	441	654	738	557
	Kuria		670	663	603	662	504
	Aranuka		409	491	361	405	297
	Abemama		1,423	954	1,613	1,324	1,141
	Nonouti		1,067	922	1,082	909	775
	Tabiteu		1,383	1,540	1,473	1,200	1 177
	Onotoa		369	516	491	363	405
	Bern		459	580	687	616	530
	Nikunau		572	764	728	790	724
	Tamana		301	383	372	268	221
	Arorae		278	354	636	183	288
Line Islands			823	1,430	2,266	1,428	1,634
	Christmas		322	885	1,790	865	574
	Fanning		170	202	156	72	121
	Washington		331	343	320	491	939
		Total	10,011	10,283	12,216	10,804	9,321
Memorandum item:
	Copra exports		9,907	8,430	10,316	13,248	6,083

Source: Data provided by the Kiribati authorities.

Table 2.

Kiribati: Copra Production by Island, 1992-96

(In metric tons)

			1992	1993	1994	1995	1996
Gilbert Islands			9,188	8,853	9,950	9,376	7,687
	Makin		328	153	247	396	271
	Butant		197	202	187	330	124
	Marakei		355	434	387	496	351
	Abaiang		609	288	341	507	218
	Tarawa		254	168	88	189	104
	Maiana		514	441	654	738	557
	Kuria		670	663	603	662	504
	Aranuka		409	491	361	405	297
	Abemama		1,423	954	1,613	1,324	1,141
	Nonouti		1,067	922	1,082	909	775
	Tabiteu		1,383	1,540	1,473	1,200	1 177
	Onotoa		369	516	491	363	405
	Bern		459	580	687	616	530
	Nikunau		572	764	728	790	724
	Tamana		301	383	372	268	221
	Arorae		278	354	636	183	288
Line Islands			823	1,430	2,266	1,428	1,634
	Christmas		322	885	1,790	865	574
	Fanning		170	202	156	72	121
	Washington		331	343	320	491	939
		Total	10,011	10,283	12,216	10,804	9,321
Memorandum item:
	Copra exports		9,907	8,430	10,316	13,248	6,083

Source: Data provided by the Kiribati authorities.

Table 3.

Kiribati: Prices Paid to Growers by the Kiribati Copra Cooperative Society, 1992-96

(In Australian dollars per ton)

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Defined as the difference between the export price (f.o.b. unit value) and domestic costs other than payments to growers (including freight, commissions, stevedoring, wharfage, and other operating costs), which is equivalent to net price received by growers in the absence of price support.

^{^2/}In terms of export unit value (f.o.b.).

^{^3/}The difference in the producer price compared with Gilbert Islands’ reflects differences in the average quality of copra and production costs.

Table 3.

Kiribati: Prices Paid to Growers by the Kiribati Copra Cooperative Society, 1992-96

(In Australian dollars per ton)

			Producer Price
Year		Months	Monthly basis	Annual average	Net Export Price ^1/ (Annual average)	Export Price ^2/ (Annual average)	Memorandum Item: Minimum Support Price
Gilbert Islands					Net Export Price ^1/ (Annual average)	Export Price ^2/ (Annual average)	Memorandum Item: Minimum Support Price
	1992	January-March	330
		April-December	350	345	270	439	220
	1993	January-March	350
		April-July	290
		August-September	220
		October-December	260	286	97	276	220
	1994	January-March	260
		April-September	300
		October-December	400	315	245	434	220
	1995	January-December	400	400	292	471	400
	1996	January-December	400	400	323	505	400
Line Islands^3/
	1992	March-December	220	220	270	439	200
	1993	January-March	350
		April-July	290
		August-September	220
		October-December	260	286	97	276	220
	1994	January-March	260
		April-September	300
		October-December	400	315	245	434	220
	1995	January-December	400	400	292	471	400
	1996	January-December	400	400	323	505	400

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^2/}In terms of export unit value (f.o.b.).

^{^3/}The difference in the producer price compared with Gilbert Islands’ reflects differences in the average quality of copra and production costs.

Table 3.

Kiribati: Prices Paid to Growers by the Kiribati Copra Cooperative Society, 1992-96

(In Australian dollars per ton)

			Producer Price
Year		Months	Monthly basis	Annual average	Net Export Price ^1/ (Annual average)	Export Price ^2/ (Annual average)	Memorandum Item: Minimum Support Price
Gilbert Islands					Net Export Price ^1/ (Annual average)	Export Price ^2/ (Annual average)	Memorandum Item: Minimum Support Price
	1992	January-March	330
		April-December	350	345	270	439	220
	1993	January-March	350
		April-July	290
		August-September	220
		October-December	260	286	97	276	220
	1994	January-March	260
		April-September	300
		October-December	400	315	245	434	220
	1995	January-December	400	400	292	471	400
	1996	January-December	400	400	323	505	400
Line Islands^3/
	1992	March-December	220	220	270	439	200
	1993	January-March	350
		April-July	290
		August-September	220
		October-December	260	286	97	276	220
	1994	January-March	260
		April-September	300
		October-December	400	315	245	434	220
	1995	January-December	400	400	292	471	400
	1996	January-December	400	400	323	505	400

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^2/}In terms of export unit value (f.o.b.).

^{^3/}The difference in the producer price compared with Gilbert Islands’ reflects differences in the average quality of copra and production costs.

Table 4.

Kiribati: Fish Statistics, 1992-96 ^1/

Source: Data provided by the Kiribati authorities.

^{^1/}Excludes the fish catch made by private fishermen for local sales and consumption.

Table 4.

Kiribati: Fish Statistics, 1992-96 ^1/

					1992	1993	1994	1995	1996
Te Mautari Limited
	Vessels' catch
		Metric tons			542	285	210	--	11
	Local purchases
		Metric tons			14	29	20	--	1
	Total supply
		Metric tons			556	314	230	--	12
	Total sales
		Metric tons			453	410	220	--	12
		Value ($A '000)			388	353	229	--	17
			Exports (f.o.b.)
				Metric tons	321	310	140	--	--
				Value ($A ’000)	234	236	135	--	--
Marine Export Limited
	Total sales
		Metric tons			63	55	58	74	51
		Value ($A '000)			140	160	185	268	128
			Exports (f.o.b.)
				Metric tons	58	50	53	69	46
				Value ($A '000)	129	145	168	250	115
Memorandum items:
	Total fish exports
		Volume (metric tons)			379	360	193	69	46
		Value ($A '000)			363	381	303	250	115
		Unit value			958	1,058	1,570	3,623	2,500

Source: Data provided by the Kiribati authorities.

^{^1/}Excludes the fish catch made by private fishermen for local sales and consumption.

Table 4.

Kiribati: Fish Statistics, 1992-96 ^1/

					1992	1993	1994	1995	1996
Te Mautari Limited
	Vessels' catch
		Metric tons			542	285	210	--	11
	Local purchases
		Metric tons			14	29	20	--	1
	Total supply
		Metric tons			556	314	230	--	12
	Total sales
		Metric tons			453	410	220	--	12
		Value ($A '000)			388	353	229	--	17
			Exports (f.o.b.)
				Metric tons	321	310	140	--	--
				Value ($A ’000)	234	236	135	--	--
Marine Export Limited
	Total sales
		Metric tons			63	55	58	74	51
		Value ($A '000)			140	160	185	268	128
			Exports (f.o.b.)
				Metric tons	58	50	53	69	46
				Value ($A '000)	129	145	168	250	115
Memorandum items:
	Total fish exports
		Volume (metric tons)			379	360	193	69	46
		Value ($A '000)			363	381	303	250	115
		Unit value			958	1,058	1,570	3,623	2,500

Source: Data provided by the Kiribati authorities.

^{^1/}Excludes the fish catch made by private fishermen for local sales and consumption.

Table 5.

Kiribati: Tarawa Retail Index, 1992-96

(Annual average percentage change; fourth quarter 1975 = 100)

Source: Data provided by the Kiribati authorities.

Table 5.

Kiribati: Tarawa Retail Index, 1992-96

(Annual average percentage change; fourth quarter 1975 = 100)

	Weight	1992	1993	1994	1995	1996
Food	50.0	2.5	6.0	3.0	5.2	-1.6
Alcohol and tobacco	14.0	4.3	10.2	5.6	1.5	-5.5
Clothing	8.0	9.1	5.3	6.0	2.7	1.5
Transportation	8.0	2.3	5.0	14.9	1.2	5.2
Housing and household operations	7.5	9.7	3.6	9.2	2.7	-1.4
Miscellaneous	12.5	2.2	5.9	1.7	3.7	4.4
All items	100.0	4.0	6.1	5.3	3.6	-0.6

Source: Data provided by the Kiribati authorities.

Table 5.

Kiribati: Tarawa Retail Index, 1992-96

(Annual average percentage change; fourth quarter 1975 = 100)

	Weight	1992	1993	1994	1995	1996
Food	50.0	2.5	6.0	3.0	5.2	-1.6
Alcohol and tobacco	14.0	4.3	10.2	5.6	1.5	-5.5
Clothing	8.0	9.1	5.3	6.0	2.7	1.5
Transportation	8.0	2.3	5.0	14.9	1.2	5.2
Housing and household operations	7.5	9.7	3.6	9.2	2.7	-1.4
Miscellaneous	12.5	2.2	5.9	1.7	3.7	4.4
All items	100.0	4.0	6.1	5.3	3.6	-0.6

Source: Data provided by the Kiribati authorities.

Table 6.

Kiribati: Summary of Central Government Operations, 1992-97 ^1/

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}The central government operations include the Revenue Equalization Reserve Fund (RERF) and Export Earning Stabilization Scheme (STABEX).

^{^2/}Includes supplementary budget appropriation.

^{^3/}Excludes technical assistance.

^{^4/}Excludes accrued income of the RERF.

Table 6.

Kiribati: Summary of Central Government Operations, 1992-97 ^1/

				1992	1993	1994	1995		1996		1997
							Budget ^2/	Prov.	Budget ^2/	Prov.	Budget	Staff Est
				(In millions of Australian dollars)
Total revenue and grants				69.9	68.9	65.4	73.6	68.6	62.7	55.9	79.1	72.7
	Revenue			43.2	48.8	47.6	46.9	56.7	46.8	42.5	53.0	51.9
		Tax revenue		10.2	11.7	11.7	10.5	15.3	13.5	15.4	16.1	16.8
		Nontax revenue		33.0	37.1	35.8	36.5	41.4	33.3	27.0	36.9	35.1
			Accrued income of RERF	16.5	15.4	15.3	14.0	16.1	14.0	15.0	15.5	15.5
			Fishing license fees	13.0	14.1	18.4	18.0	18.8	11.0	7.1	16.8	15.0
	External grants ^3/			26.7	20.1	17.8	26.7	11.9	15.9	13.4	26.1	20.8
Total expenditure				54.3	48.0	51.9	77.8	60.0	68.9	60.9	773	71.8
	Current expenditure			25.8	26.5	31.0	48.5	44.3	49.5	44.0	49.2	49.0
	Development expenditure			28.5	21.5	21.0	293	15.7	19.4	16.9	28.1	22.8
Overall balance				15.6	20.9	13.5	4.2	8.6	-6.2	-5.0	1.8	0.9
(Underlying overall balance) ^4/				-0.9	5.4	-1.8	-18.2	-7.5	-20.2	-20.0	-13.7	-14.6
				(In percent of GDP)
Revenue				94.3	100.9	87.3	72.7	87.8	67.2	60.9	71.7	70.2
	Tax revenue			22.2	24.2	21.5	16.2	23.6	19.4	22.1	21.8	22.7
	Nontax revenue			72.1	76.7	65.8	56.5	64.2	47.8	38.8	49.9	47.5
External grants				58.3	41.6	32.7	41.4	18.4	22.8	19.2	35.3	282
Current expenditure				56.3	54.8	56.9	75.1	68.6	71.0	63.1	66.6	663
Development expenditure				622	44.5	38.5	45.4	24.3	27.8	24.2	38.0	30.9
Overall balance				34.1	43.2	24,7	-6.5	133	-8.8	-7.2	2.4	1.2
(Underlying overall balance) ^4/				-2.0	11.2	-3.3	-28.2	-11.6	-28.9	-28.7	-18.6	-19.8

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}The central government operations include the Revenue Equalization Reserve Fund (RERF) and Export Earning Stabilization Scheme (STABEX).

^{^2/}Includes supplementary budget appropriation.

^{^3/}Excludes technical assistance.

^{^4/}Excludes accrued income of the RERF.

Table 6.

Kiribati: Summary of Central Government Operations, 1992-97 ^1/

				1992	1993	1994	1995		1996		1997
							Budget ^2/	Prov.	Budget ^2/	Prov.	Budget	Staff Est
				(In millions of Australian dollars)
Total revenue and grants				69.9	68.9	65.4	73.6	68.6	62.7	55.9	79.1	72.7
	Revenue			43.2	48.8	47.6	46.9	56.7	46.8	42.5	53.0	51.9
		Tax revenue		10.2	11.7	11.7	10.5	15.3	13.5	15.4	16.1	16.8
		Nontax revenue		33.0	37.1	35.8	36.5	41.4	33.3	27.0	36.9	35.1
			Accrued income of RERF	16.5	15.4	15.3	14.0	16.1	14.0	15.0	15.5	15.5
			Fishing license fees	13.0	14.1	18.4	18.0	18.8	11.0	7.1	16.8	15.0
	External grants ^3/			26.7	20.1	17.8	26.7	11.9	15.9	13.4	26.1	20.8
Total expenditure				54.3	48.0	51.9	77.8	60.0	68.9	60.9	773	71.8
	Current expenditure			25.8	26.5	31.0	48.5	44.3	49.5	44.0	49.2	49.0
	Development expenditure			28.5	21.5	21.0	293	15.7	19.4	16.9	28.1	22.8
Overall balance				15.6	20.9	13.5	4.2	8.6	-6.2	-5.0	1.8	0.9
(Underlying overall balance) ^4/				-0.9	5.4	-1.8	-18.2	-7.5	-20.2	-20.0	-13.7	-14.6
				(In percent of GDP)
Revenue				94.3	100.9	87.3	72.7	87.8	67.2	60.9	71.7	70.2
	Tax revenue			22.2	24.2	21.5	16.2	23.6	19.4	22.1	21.8	22.7
	Nontax revenue			72.1	76.7	65.8	56.5	64.2	47.8	38.8	49.9	47.5
External grants				58.3	41.6	32.7	41.4	18.4	22.8	19.2	35.3	282
Current expenditure				56.3	54.8	56.9	75.1	68.6	71.0	63.1	66.6	663
Development expenditure				622	44.5	38.5	45.4	24.3	27.8	24.2	38.0	30.9
Overall balance				34.1	43.2	24,7	-6.5	133	-8.8	-7.2	2.4	1.2
(Underlying overall balance) ^4/				-2.0	11.2	-3.3	-28.2	-11.6	-28.9	-28.7	-18.6	-19.8

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}The central government operations include the Revenue Equalization Reserve Fund (RERF) and Export Earning Stabilization Scheme (STABEX).

^{^2/}Includes supplementary budget appropriation.

^{^3/}Excludes technical assistance.

^{^4/}Excludes accrued income of the RERF.

Table 7.

Kiribati: Central Government Revenue, 1992-97

(In thousands of Australian dollars)

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

^{^2/}Accrued income of the Revenue Equalization Reserve Fund (RERF) net of management fees.

^{^3/}Excludes interest on Export Earning Stabilization Scheme (STABEX) deposits.

^{^4/}User fees paid by the Japanese space agency for the use of Christmas Island facilities to obtain meteorological information.

^{^5/}Includes net transactions of the STABEX.

Table 7.

Kiribati: Central Government Revenue, 1992-97

(In thousands of Australian dollars)

			1992	1993	1994	1995		1996		1997
						Budget ^1/	Prov.	Budget ^1/	Prov.	Budget
Tax revenue			10,176	11,697	11,722	10,466	15,255	13,500	15,438	16,100
	Direct taxation		3,248	3,666	3,144	3,690	4,991	4,700	5,231	5350
		Company	1,505	2,161	1,453	1,700	1,840	2,100	1,607	2,450
		Personal	1,743	1,505	1,691	1,990	3,151	2,600	3,624	2,900
	Indirect taxation		6,928	8,031	8,578	6,776	10,264	8,800	10,207	10,750
		Import duties	6,847	7,887	8,348	6,586	10,084	8,600	10,001	10,500

		Hotel tax	81	144	230	190	180	200	206	250

Nontax revenue			33,022	37,067	35,828	36,453	41,430	33,336	27,016	36,863
	Entrepreneurial income		913	762	767	1,046	1,035	997	681	832
		Rent	88	131	69	148	96	155	87	156
		Philatelic sales	261	165	263	290	386	390	129	275
		Fish sales	34	22	14	11	30	–	43	15
		Public works charges	530	444	421	597	523	452	422	386

	Property income		29,840	32,443	33,876	34,069	36,703	27,100	22,895	32,795
		Fishing license lees	12,959	14,127	18373	18,000	18,812	11,000	7,098	16,772
		RERF accrued income ^2/	16,503	15,443	15,253	14,000	16,080	14,000	14,966	15,500
		Interest ^3/	133	754	59	319	430	100	28	23
		Dividends	245	2,119	191	1,750	1,381	2,000	803	500

	Other income		2,269	3,862	1,185	1,338	3,692	5,239	3,440	3,236
		Aircraft landing	37	20	4	327	2	100	2	100
		Fish transshipment	24	6	125	114	124	83	–	83
		School fees	135	194	175	278	209	155	93	27
		NASDA fees ^4/	1,056	1,711	395	1,375	2,111	1,680	1,526	1,680
		Other fees and charges ^5/	1,017	1,931	486	-756	1,246	3,221	1,819	1346

		Total revenue	43,198	48,764	47,550	46,919	56,685	46,836	42,454	52,963

Memorandum items:
	RERF accrued income		16,503	15,443	15,253	14,000	16,080	14,000	14,966	15,500
		Transfer to toe consilidated account	5,642	–	–	7,500	7,500	13,600	13,600	12,600
		Reinvested income	10,861	15,443	15,253	6,500	8,580	400	1,366	2,900

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

^{^2/}Accrued income of the Revenue Equalization Reserve Fund (RERF) net of management fees.

^{^3/}Excludes interest on Export Earning Stabilization Scheme (STABEX) deposits.

^{^4/}User fees paid by the Japanese space agency for the use of Christmas Island facilities to obtain meteorological information.

^{^5/}Includes net transactions of the STABEX.

Table 7.

Kiribati: Central Government Revenue, 1992-97

(In thousands of Australian dollars)

			1992	1993	1994	1995		1996		1997
						Budget ^1/	Prov.	Budget ^1/	Prov.	Budget
Tax revenue			10,176	11,697	11,722	10,466	15,255	13,500	15,438	16,100
	Direct taxation		3,248	3,666	3,144	3,690	4,991	4,700	5,231	5350
		Company	1,505	2,161	1,453	1,700	1,840	2,100	1,607	2,450
		Personal	1,743	1,505	1,691	1,990	3,151	2,600	3,624	2,900
	Indirect taxation		6,928	8,031	8,578	6,776	10,264	8,800	10,207	10,750
		Import duties	6,847	7,887	8,348	6,586	10,084	8,600	10,001	10,500

		Hotel tax	81	144	230	190	180	200	206	250

Nontax revenue			33,022	37,067	35,828	36,453	41,430	33,336	27,016	36,863
	Entrepreneurial income		913	762	767	1,046	1,035	997	681	832
		Rent	88	131	69	148	96	155	87	156
		Philatelic sales	261	165	263	290	386	390	129	275
		Fish sales	34	22	14	11	30	–	43	15
		Public works charges	530	444	421	597	523	452	422	386

	Property income		29,840	32,443	33,876	34,069	36,703	27,100	22,895	32,795
		Fishing license lees	12,959	14,127	18373	18,000	18,812	11,000	7,098	16,772
		RERF accrued income ^2/	16,503	15,443	15,253	14,000	16,080	14,000	14,966	15,500
		Interest ^3/	133	754	59	319	430	100	28	23
		Dividends	245	2,119	191	1,750	1,381	2,000	803	500

	Other income		2,269	3,862	1,185	1,338	3,692	5,239	3,440	3,236
		Aircraft landing	37	20	4	327	2	100	2	100
		Fish transshipment	24	6	125	114	124	83	–	83
		School fees	135	194	175	278	209	155	93	27
		NASDA fees ^4/	1,056	1,711	395	1,375	2,111	1,680	1,526	1,680
		Other fees and charges ^5/	1,017	1,931	486	-756	1,246	3,221	1,819	1346

		Total revenue	43,198	48,764	47,550	46,919	56,685	46,836	42,454	52,963

Memorandum items:
	RERF accrued income		16,503	15,443	15,253	14,000	16,080	14,000	14,966	15,500
		Transfer to toe consilidated account	5,642	–	–	7,500	7,500	13,600	13,600	12,600
		Reinvested income	10,861	15,443	15,253	6,500	8,580	400	1,366	2,900

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

^{^2/}Accrued income of the Revenue Equalization Reserve Fund (RERF) net of management fees.

^{^3/}Excludes interest on Export Earning Stabilization Scheme (STABEX) deposits.

^{^4/}User fees paid by the Japanese space agency for the use of Christmas Island facilities to obtain meteorological information.

^{^5/}Includes net transactions of the STABEX.

Table 8.

Kiribati: Central Government Expenditure (Economic Classification), 1992-97 ^1/

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

Table 8.

Kiribati: Central Government Expenditure (Economic Classification), 1992-97 ^1/

			1992	1993	1994	1995		1996		1997
						Budget ^1/	Prov.	Budget ^1/	Prov.	Budget
					(In thousands of Australian dollars)
Current expenditure			25,756	26,536	30,985	48,467	44,347	49,537	43,998	49,154
	Wages and salaries		10,620	11,143	11,608	17,146	16,758	19,220	18,026	18,762
		Salaries	9,016	9,652	9,869	14,758	14,340	16,739	15,543	15,898
		Wages	438	436	397	693	593	611	453	867
		Allowances	501	403	493	766	896	1,161	956	1322
		Overtime	665	652	849	929	929	709	1,074	675

Contributions to Provident Fund			485	367	674	908	1,013	1,080	1,041	1,020

Purchases of goods and services			13,004	12,500	15,086	25,450	21,247	22,788	18,457	23,682
	Travel/transportation		3,289	3,376	3,322	4,257	5,171	4,905	4,231	3,825
	Hire of vehicles and vessels		1,360	1,433	1,428	2,122	1,643	2,300	1,360	1,785
	Utilities		800	644	1,043	1,095	2,072	2,066	1,943	1,992
	Land rent		278	382	630	1,029	836	946	776	917
	Maintenance and other		7,277	6,665	8,663	16,947	11,525	12,571	10,923	15,163
Interest payments			44	43	59	110	110	118	118	151

Subsidies and transfers			1,603	2,483	3,558	4,853	5,219	6331	6356	5,539
	Subsidies to public enterprises		323	350	912	1,189	1,555	2,028	2,112	1,108
	Transfers		1,280	2,133	2,646	3,664	3,664	4,303	4,244	4,431
		To local councils	701	655	710	850	850	650	591	650
		To nonprofit institutions	210	297	309	412	412	986	986	1,148
		To households and abroad	369	1,181	1,627	2,402	2,402	2,667	2,667	2,633

			(In percent of GDP)

Current expenditure			56.2	54.9	56.9	75.1	68.7	71.1	63.1	66.5
	Wages and salaries		23.2	23.1	21.3	26.6	26.0	27.6	25.9	25.4
	Subsidies to public enterprises		0.7	0.7	1.7	1.8	2.4	2.9	3.0	1.5

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

Table 8.

Kiribati: Central Government Expenditure (Economic Classification), 1992-97 ^1/

			1992	1993	1994	1995		1996		1997
						Budget ^1/	Prov.	Budget ^1/	Prov.	Budget
					(In thousands of Australian dollars)
Current expenditure			25,756	26,536	30,985	48,467	44,347	49,537	43,998	49,154
	Wages and salaries		10,620	11,143	11,608	17,146	16,758	19,220	18,026	18,762
		Salaries	9,016	9,652	9,869	14,758	14,340	16,739	15,543	15,898
		Wages	438	436	397	693	593	611	453	867
		Allowances	501	403	493	766	896	1,161	956	1322
		Overtime	665	652	849	929	929	709	1,074	675

Contributions to Provident Fund			485	367	674	908	1,013	1,080	1,041	1,020

Purchases of goods and services			13,004	12,500	15,086	25,450	21,247	22,788	18,457	23,682
	Travel/transportation		3,289	3,376	3,322	4,257	5,171	4,905	4,231	3,825
	Hire of vehicles and vessels		1,360	1,433	1,428	2,122	1,643	2,300	1,360	1,785
	Utilities		800	644	1,043	1,095	2,072	2,066	1,943	1,992
	Land rent		278	382	630	1,029	836	946	776	917
	Maintenance and other		7,277	6,665	8,663	16,947	11,525	12,571	10,923	15,163
Interest payments			44	43	59	110	110	118	118	151

Subsidies and transfers			1,603	2,483	3,558	4,853	5,219	6331	6356	5,539
	Subsidies to public enterprises		323	350	912	1,189	1,555	2,028	2,112	1,108
	Transfers		1,280	2,133	2,646	3,664	3,664	4,303	4,244	4,431
		To local councils	701	655	710	850	850	650	591	650
		To nonprofit institutions	210	297	309	412	412	986	986	1,148
		To households and abroad	369	1,181	1,627	2,402	2,402	2,667	2,667	2,633

			(In percent of GDP)

Current expenditure			56.2	54.9	56.9	75.1	68.7	71.1	63.1	66.5
	Wages and salaries		23.2	23.1	21.3	26.6	26.0	27.6	25.9	25.4
	Subsidies to public enterprises		0.7	0.7	1.7	1.8	2.4	2.9	3.0	1.5

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

Table 9.

Kiribati: Central Government Expenditure (Functional Classification), 1992-97 ^1/

(In thousands of Australian dollars)

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

Table 9.

Kiribati: Central Government Expenditure (Functional Classification), 1992-97 ^1/

(In thousands of Australian dollars)

			1992	1993	1994	1995		1996		1997
						Budget ^1/	Prov.	Budget ^1/	Prov.	Budget
Current expenditure			25,756	26,536	30,985	48,467	44,347	49,537	43,998	49,154

	General public services		8,397	8,700	10,644	15,264	14,275	15,908	14,745	14,497
		Office of the President	476	484	547	1,046	1,020	941	787	961
		Foreign Affairs	397	594	888	891	812	787	634	665
		Judiciary	358	353	393	807	643	729	636	735
		Public Service Commission	55	68	67	98	87	97	101	97
		Parliament	676	749	791	1,200	1,123	1,145	1,108	986
		Attorney General	104	116	149	254	216	278	198	234
		Audit	178	206	256	432	393	442	426	448
		Pensions	558	425	769	973	784	1,080	1,080	1,020
		Home Affairs	2,113	2,182	2,306	3,689	3,256	3,408	2,734	3,361
		Finance	1,543	1,425	2,073	2,524	2,582	3,646	3,741	2,806
		Public Order and Safety	1,939	2,098	2,405	3,350	3,359	3,355	3,300	3,184

	Social services		9,454	9,856	11,341	19,213	16,928	19,782	18,111	19,425
		Education	5,187	5,611	6,008	9,767	9,119	11,179	9,551	9,676
		Health	4,267	4,245	5,333	8,505	6,970	7,461	7,487	8,686
		Environment and Social Welfare	—	—	—	941	839	1,142	1,073	1,063

	Economic services		5,966	5,882	6,595	11,581	10,624	11,634	8,915	13,111
		Natural Resources	1,895	2,082	2,405	2,719	2,628	2,776	2,344	2,524
	Commerce, Industries and Tourism		968	1,001	1,123	509	370	804	584	980
		Transportation and Communications	1,280	1,582	2,126	3,610	3,856	3,257	2,677	6,495
		Works and Energy	1,757	1,887	1,652	2,066	1,846	2,127	2,235	1,957
		Line and Phoenix	2,006	1,428	1,629	3,050	2,585	2,877	1,623	1,718
		Labor, Employment, and Cooperatives	—	—	—	2,036	1,859	2,006	1,679	1,557

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

Table 9.

Kiribati: Central Government Expenditure (Functional Classification), 1992-97 ^1/

(In thousands of Australian dollars)

			1992	1993	1994	1995		1996		1997
						Budget ^1/	Prov.	Budget ^1/	Prov.	Budget
Current expenditure			25,756	26,536	30,985	48,467	44,347	49,537	43,998	49,154

	General public services		8,397	8,700	10,644	15,264	14,275	15,908	14,745	14,497
		Office of the President	476	484	547	1,046	1,020	941	787	961
		Foreign Affairs	397	594	888	891	812	787	634	665
		Judiciary	358	353	393	807	643	729	636	735
		Public Service Commission	55	68	67	98	87	97	101	97
		Parliament	676	749	791	1,200	1,123	1,145	1,108	986
		Attorney General	104	116	149	254	216	278	198	234
		Audit	178	206	256	432	393	442	426	448
		Pensions	558	425	769	973	784	1,080	1,080	1,020
		Home Affairs	2,113	2,182	2,306	3,689	3,256	3,408	2,734	3,361
		Finance	1,543	1,425	2,073	2,524	2,582	3,646	3,741	2,806
		Public Order and Safety	1,939	2,098	2,405	3,350	3,359	3,355	3,300	3,184

	Social services		9,454	9,856	11,341	19,213	16,928	19,782	18,111	19,425
		Education	5,187	5,611	6,008	9,767	9,119	11,179	9,551	9,676
		Health	4,267	4,245	5,333	8,505	6,970	7,461	7,487	8,686
		Environment and Social Welfare	—	—	—	941	839	1,142	1,073	1,063

	Economic services		5,966	5,882	6,595	11,581	10,624	11,634	8,915	13,111
		Natural Resources	1,895	2,082	2,405	2,719	2,628	2,776	2,344	2,524
	Commerce, Industries and Tourism		968	1,001	1,123	509	370	804	584	980
		Transportation and Communications	1,280	1,582	2,126	3,610	3,856	3,257	2,677	6,495
		Works and Energy	1,757	1,887	1,652	2,066	1,846	2,127	2,235	1,957
		Line and Phoenix	2,006	1,428	1,629	3,050	2,585	2,877	1,623	1,718
		Labor, Employment, and Cooperatives	—	—	—	2,036	1,859	2,006	1,679	1,557

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Includes supplementary budget appropriations.

Table 10.

Kiribati: Central Government Salary Structure, 1989-97 ^1/

Source: Data provided by the Kiribati authorities.

^{^1/}Includes central government contributions to the Kiribati Provident Fund.

^{^2/}Maximum of range.

Table 10.

Kiribati: Central Government Salary Structure, 1989-97 ^1/

Salary Range			1989	1991	1993	1995	1997
				(Annual salary in Australian dollars, effective from January 1)^2/
		2	9,772	10358	10,669	12354	14,200
		3	9385	9,948	10,246	12,068	13,493
		4	8,994	9334	9360	11,782	12354
		5	8,573	9,087	9,360	11,496	11,782
		6	8303	8,801	9,065	11,210	11,210
		7	7,795	8,419	8,672	10,638	10,638
		8	7,219	7,797	8,031	10,170	10,170
		9	6,833	7380	7,601	9,702	9,702
		10	5,922	6,396	6,588	8,766	8,766
		11	5,108	5,517	5,793	7,830	7,830
		12	4395	4,747	4,984	6,894	6,894
		13	3,855		4,493	6,166	6,166
		14	3,460	3,841	4,033	5,438	5,438
		15	3,074	3,412	3,583	4,710	4,710
		16	2,716	3,015	3,166	3,982	3,982
		17	2,424	2,691	2,826	3392	3392
		18	2,133	2,368	2,486	3,202	3,202
		19	1,843	2,046	2,148	2,812	2,812
		20	…	…	…	…	2,440
				(Percentage change between periods)
Memorandum items:
	Highest-paid employees		5.0	6.0	3.0	15.8	14.9
	Lowest-paid employees		9.0	11.0	5.0	31.0	0.0

Source: Data provided by the Kiribati authorities.

^{^1/}Includes central government contributions to the Kiribati Provident Fund.

^{^2/}Maximum of range.

Table 10.

Kiribati: Central Government Salary Structure, 1989-97 ^1/

Salary Range			1989	1991	1993	1995	1997
				(Annual salary in Australian dollars, effective from January 1)^2/
		2	9,772	10358	10,669	12354	14,200
		3	9385	9,948	10,246	12,068	13,493
		4	8,994	9334	9360	11,782	12354
		5	8,573	9,087	9,360	11,496	11,782
		6	8303	8,801	9,065	11,210	11,210
		7	7,795	8,419	8,672	10,638	10,638
		8	7,219	7,797	8,031	10,170	10,170
		9	6,833	7380	7,601	9,702	9,702
		10	5,922	6,396	6,588	8,766	8,766
		11	5,108	5,517	5,793	7,830	7,830
		12	4395	4,747	4,984	6,894	6,894
		13	3,855		4,493	6,166	6,166
		14	3,460	3,841	4,033	5,438	5,438
		15	3,074	3,412	3,583	4,710	4,710
		16	2,716	3,015	3,166	3,982	3,982
		17	2,424	2,691	2,826	3392	3392
		18	2,133	2,368	2,486	3,202	3,202
		19	1,843	2,046	2,148	2,812	2,812
		20	…	…	…	…	2,440
				(Percentage change between periods)
Memorandum items:
	Highest-paid employees		5.0	6.0	3.0	15.8	14.9
	Lowest-paid employees		9.0	11.0	5.0	31.0	0.0

Source: Data provided by the Kiribati authorities.

^{^1/}Includes central government contributions to the Kiribati Provident Fund.

^{^2/}Maximum of range.

Table 11.

Kiribati: Central Government Budgetary Subsidies to Public Enterprises, 1992-97

Source: Data provided by the Kiribati authorities.

^{^1/}Includes payments of debt services for public enterprises.

Table 11.

Kiribati: Central Government Budgetary Subsidies to Public Enterprises, 1992-97

			1992	1993	1994	1995		1996		1997
						Budget ^1/	Prov.	Budget ^1/	Prov.	Budget
			(In thousands of Australian dollars)
Air Tungaru/Kiribati Oil Company			—	200	250	—	296	1,000	1,000	400
Public Utilities Board			120	120	120	120	120	120	120	120
	Water		20	20	20	20	20	20	20	20
	Sewage		100	100	100	100	100	100	100	100
Te Mautari Limited			—	—	250	250	250	—	—	—
Betio Shipyard			30	30	—	45	45	45	45	45
Kiribati Housing Corporation			—	—	233	262	281	261	287	250
Broadcasting and Publications Authority			—	—	—	17	18	17	17	17
Atoll Seaweed Company			—	—	—	135	135	150	150	125
Kiribati Cooperative Wholesale Society/Bobotin Kiribati			—	—	—	250	277	—	—	—
Other ^1/			173	—	59	110	133	435	493	151
	Total subsidies		323	350	912	1,189	1,555	2,028	2,112	1,108
		(In percent of current expenditure)	1.3	1.3	2.9	2	4	4	5	2
		(In percent of GDP)	0.7	0.7	1.7	1.8	2.4	2.9	3.0	1.5

Source: Data provided by the Kiribati authorities.

^{^1/}Includes payments of debt services for public enterprises.

Table 11.

Kiribati: Central Government Budgetary Subsidies to Public Enterprises, 1992-97

			1992	1993	1994	1995		1996		1997
						Budget ^1/	Prov.	Budget ^1/	Prov.	Budget
			(In thousands of Australian dollars)
Air Tungaru/Kiribati Oil Company			—	200	250	—	296	1,000	1,000	400
Public Utilities Board			120	120	120	120	120	120	120	120
	Water		20	20	20	20	20	20	20	20
	Sewage		100	100	100	100	100	100	100	100
Te Mautari Limited			—	—	250	250	250	—	—	—
Betio Shipyard			30	30	—	45	45	45	45	45
Kiribati Housing Corporation			—	—	233	262	281	261	287	250
Broadcasting and Publications Authority			—	—	—	17	18	17	17	17
Atoll Seaweed Company			—	—	—	135	135	150	150	125
Kiribati Cooperative Wholesale Society/Bobotin Kiribati			—	—	—	250	277	—	—	—
Other ^1/			173	—	59	110	133	435	493	151
	Total subsidies		323	350	912	1,189	1,555	2,028	2,112	1,108
		(In percent of current expenditure)	1.3	1.3	2.9	2	4	4	5	2
		(In percent of GDP)	0.7	0.7	1.7	1.8	2.4	2.9	3.0	1.5

Source: Data provided by the Kiribati authorities.

^{^1/}Includes payments of debt services for public enterprises.

Table 12.

Kiribati: Financial Performance of Public Enterprises, 1994-96

(In thousands of Australian dollars)

Source: Data provided by the Kiribati authorities.

^{^1/}Before tax.

Table 12.

Kiribati: Financial Performance of Public Enterprises, 1994-96

(In thousands of Australian dollars)

Name of Enterprise			Profits/Losses ^1/
Financial public enterprises

	Bank of Kiribati Limited		975	(1994)
	Kiribati Insurance Corporation		542	(1995)
	Kiribati Provident Fund		653	(1995)
	Development Bank of Kiribati		-32	(1995)

Nonfinancial public enterprises

	Trading
		Kiribati Supplies Company Limited	80	(1995)
		Kiribati Oil Company Limited	277	(1995)
		Atoll Motor Marine Services Company Limited	295	(1995)
		Abamakoro Trading Limited	338	(1995)

	Utilities
		Public Utilities Board	-156	(1995)
		Telecom Services Kiribati Limited	616	(1995)
		Telecom Kiribati Limited	-493	(1995)

	Housing
		Kiribati Housing Corporation	-237	(1995)

	Transportation
		Air Kiribati Limited	29	(1995)
		Kiribati Shipping Services Limited	-514	(1995)

	Hotels
		Captain Cook Hotel Limited	90	(1996)
		Otintaai Hotel Limited	133	(1995)

	Fishing and marine products
		Te Mautari Company Limited	-747	(1995)
		Kiribati Marine Export Limited	-69	(1995)
		Atoll Seaweed Company Limited	-161	(1995)

	Other
		Broadcasting and Publications Authority	51	(1995)
		Betio Shipyard Limited	118	(1995)
		Tarawa Biscuit Company Limited	14	(1994)
		Plant and Vehicle Unit	-238	(1994)
		Solar Energy Company Limited	-40	(1995)

Source: Data provided by the Kiribati authorities.

^{^1/}Before tax.

Table 12.

Kiribati: Financial Performance of Public Enterprises, 1994-96

(In thousands of Australian dollars)

Name of Enterprise			Profits/Losses ^1/
Financial public enterprises

	Bank of Kiribati Limited		975	(1994)
	Kiribati Insurance Corporation		542	(1995)
	Kiribati Provident Fund		653	(1995)
	Development Bank of Kiribati		-32	(1995)

Nonfinancial public enterprises

	Trading
		Kiribati Supplies Company Limited	80	(1995)
		Kiribati Oil Company Limited	277	(1995)
		Atoll Motor Marine Services Company Limited	295	(1995)
		Abamakoro Trading Limited	338	(1995)

	Utilities
		Public Utilities Board	-156	(1995)
		Telecom Services Kiribati Limited	616	(1995)
		Telecom Kiribati Limited	-493	(1995)

	Housing
		Kiribati Housing Corporation	-237	(1995)

	Transportation
		Air Kiribati Limited	29	(1995)
		Kiribati Shipping Services Limited	-514	(1995)

	Hotels
		Captain Cook Hotel Limited	90	(1996)
		Otintaai Hotel Limited	133	(1995)

	Fishing and marine products
		Te Mautari Company Limited	-747	(1995)
		Kiribati Marine Export Limited	-69	(1995)
		Atoll Seaweed Company Limited	-161	(1995)

	Other
		Broadcasting and Publications Authority	51	(1995)
		Betio Shipyard Limited	118	(1995)
		Tarawa Biscuit Company Limited	14	(1994)
		Plant and Vehicle Unit	-238	(1994)
		Solar Energy Company Limited	-40	(1995)

Source: Data provided by the Kiribati authorities.

^{^1/}Before tax.

Table 13.

Kiribati: Commercial Bank Interest Rates, 1992-96

(In percent per annum; end of period)

Sources: Data provided by the Kiribati authorities; and International Financial Statistics, IMF.

^{^1/}Minimum deposit $A 100; no restrictions on withdrawals.

^{^2/}Minimum deposit $ A 500.

^{^3/}Weighted average rate of short-term loans.

^{^4/}Weighted average yield on 13-week treasury notes.

Table 13.

Kiribati: Commercial Bank Interest Rates, 1992-96

(In percent per annum; end of period)

			1992	1993	1994	1995	1996
Deposit rates

	Savings accounts		3.00	3.00	2.00	2.00	2.00
	Island accounts ^1/		4.50	3.50	2.50	2.50	2.50
	Statement savings		4.00	4.00	2.50	2.50	2.50

	Term deposits under $A 50,000 ^2/
		6 months	4.00	2.50	2.50	2.50	2.50
		12 months	5.00	3.50	3.50	3.50	3.50

	Term deposits over $A 50,000
		7 days	3.00	2.28	6.44	4.93	3.37
		14 days	3.20	2.48	6.60	5.10	3.53
		1 month	3.70	2.98	7.14	5.63	4.06
		2 months	3.80	3.08	7.24	5.73	4.16
		3 months	3.90	3.18	7 37	5.87	4.30
		6 months	4.00	3.28	7.50	6.00	4.43

Loan rates
	Secured		9.00	8.00	8.00	8.00	8.00
	Unsecured		10.00	9.00	9.00	9.00	9.00
	Unauthorized overdraft rate		12.00	11.00	11.00	11.00	11.00

Memorandum items:
	Selected interest rates in Australia
		Money market rate ^3/	6.44	5.11	5.18	7.44	7.37
		Treasury bill rate ^4/	6.27	5.00	5.69	7.63	6.96

Sources: Data provided by the Kiribati authorities; and International Financial Statistics, IMF.

^{^1/}Minimum deposit $A 100; no restrictions on withdrawals.

^{^2/}Minimum deposit $ A 500.

^{^3/}Weighted average rate of short-term loans.

^{^4/}Weighted average yield on 13-week treasury notes.

Table 13.

Kiribati: Commercial Bank Interest Rates, 1992-96

(In percent per annum; end of period)

			1992	1993	1994	1995	1996
Deposit rates

	Savings accounts		3.00	3.00	2.00	2.00	2.00
	Island accounts ^1/		4.50	3.50	2.50	2.50	2.50
	Statement savings		4.00	4.00	2.50	2.50	2.50

	Term deposits under $A 50,000 ^2/
		6 months	4.00	2.50	2.50	2.50	2.50
		12 months	5.00	3.50	3.50	3.50	3.50

	Term deposits over $A 50,000
		7 days	3.00	2.28	6.44	4.93	3.37
		14 days	3.20	2.48	6.60	5.10	3.53
		1 month	3.70	2.98	7.14	5.63	4.06
		2 months	3.80	3.08	7.24	5.73	4.16
		3 months	3.90	3.18	7 37	5.87	4.30
		6 months	4.00	3.28	7.50	6.00	4.43

Loan rates
	Secured		9.00	8.00	8.00	8.00	8.00
	Unsecured		10.00	9.00	9.00	9.00	9.00
	Unauthorized overdraft rate		12.00	11.00	11.00	11.00	11.00

Memorandum items:
	Selected interest rates in Australia
		Money market rate ^3/	6.44	5.11	5.18	7.44	7.37
		Treasury bill rate ^4/	6.27	5.00	5.69	7.63	6.96

Sources: Data provided by the Kiribati authorities; and International Financial Statistics, IMF.

^{^1/}Minimum deposit $A 100; no restrictions on withdrawals.

^{^2/}Minimum deposit $ A 500.

^{^3/}Weighted average rate of short-term loans.

^{^4/}Weighted average yield on 13-week treasury notes.

Table 14.

Kiribati: Commercial Bank Balance Sheet, 1992-96 ^1/

(In millions of Australian dollars; end of period)

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Bank of Kiribati Limited is the only commercial bank in Kiribati.

^{^2/}Preliminary.

^{^3/}Excludes STABEX deposits.

Table 14.

Kiribati: Commercial Bank Balance Sheet, 1992-96 ^1/

(In millions of Australian dollars; end of period)

				1992	1993 ^2/	1994 ^2/	1995	1996
Net foreign assets				29.9	25.8	30.5	38.1	34.7

Domestic credit				2.5	2.8	4.5	4.4	3.9
	Claims on government, net ^3/			-0.6	-0.4	0.0	0.0	0.0
	Claims on public enterprises			0.5	0.5	2.0	1.6	1.4
	Claims on private sector			2.6	2.7	2.5	2.8	2.5

Deposits				30.0	28.2	31.5	31.1	34.6
	Demand			7.2	6.6	5.2	7.3	9.1
	Savings			6.2	6.2	7.4	8.6	9.0
	Time			16.6	15.4	18.9	15.2	16.5

Other items, net				2.4	0.4	3.5	11.4	4.0

Memorandum item:
	Deposits
		Central government ^3/		1.0	1.8	1.8	2.9	5.5
			Demand	0.6	0.6	0.1	2.4	3.5
			Time	0.4	1.2	1.7	0.5	2.0
		Public enterprises and statutory bodies		9.8	11.2	9.6	10.1	11.4

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Bank of Kiribati Limited is the only commercial bank in Kiribati.

^{^2/}Preliminary.

^{^3/}Excludes STABEX deposits.

Table 14.

Kiribati: Commercial Bank Balance Sheet, 1992-96 ^1/

(In millions of Australian dollars; end of period)

				1992	1993 ^2/	1994 ^2/	1995	1996
Net foreign assets				29.9	25.8	30.5	38.1	34.7

Domestic credit				2.5	2.8	4.5	4.4	3.9
	Claims on government, net ^3/			-0.6	-0.4	0.0	0.0	0.0
	Claims on public enterprises			0.5	0.5	2.0	1.6	1.4
	Claims on private sector			2.6	2.7	2.5	2.8	2.5

Deposits				30.0	28.2	31.5	31.1	34.6
	Demand			7.2	6.6	5.2	7.3	9.1
	Savings			6.2	6.2	7.4	8.6	9.0
	Time			16.6	15.4	18.9	15.2	16.5

Other items, net				2.4	0.4	3.5	11.4	4.0

Memorandum item:
	Deposits
		Central government ^3/		1.0	1.8	1.8	2.9	5.5
			Demand	0.6	0.6	0.1	2.4	3.5
			Time	0.4	1.2	1.7	0.5	2.0
		Public enterprises and statutory bodies		9.8	11.2	9.6	10.1	11.4

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Bank of Kiribati Limited is the only commercial bank in Kiribati.

^{^2/}Preliminary.

^{^3/}Excludes STABEX deposits.

Table 15.

Kiribati: Assets and Liabilities of the Development Bank of Kiribati, 1992-96

(In thousands of Australian dollars; aid of period)

Source: Data provided by the Kiribati authorities.

Table 15.

Kiribati: Assets and Liabilities of the Development Bank of Kiribati, 1992-96

(In thousands of Australian dollars; aid of period)

				1992	1993	1994	1995	1996
Assets				3,363	3,199	3,382	3,760	4,116

	Fixed assets			47	34	21	50	52
		Loans and investments		2,593	3,124	3,200	3,710	4,064
			Long-term loans to subsidiary companies	765	765	616	616	616
			Other long-term loans	1,074	1,609	1,834	1,680	2,166
			Investment in subsidiary companies	754	750	750	750	750
	Current assets			723	41	161	664	532
		Cash and bank balances		(544)	(55)	(24)	(416)	(429)

Liabilities				3,363	3,199	3,382	3,760	4,116

	Capital			2,199	2,110	1,985	2,078	2,451
		Government grants		701	701	701	701	1,201
		Retained earnings		-102	-191	-316	-369	-496
		Government investment		1,600	1,600	1,600	1,600	1,600
	Investment revaluation reserve			128	128	128	128	128
	Long-torn liabilities			780	780	1,206	1,495	1,670
		Kiribati Supplies Company		0	0	0	0	0
		Asian Development Bank loan		780	780	1,206	1,495	1 670
	Current liabilities			256	181	63	185	-5
		Trade credits		(202)	(127)	(22)	(39)	(46)

Source: Data provided by the Kiribati authorities.

Table 15.

Kiribati: Assets and Liabilities of the Development Bank of Kiribati, 1992-96

(In thousands of Australian dollars; aid of period)

				1992	1993	1994	1995	1996
Assets				3,363	3,199	3,382	3,760	4,116

	Fixed assets			47	34	21	50	52
		Loans and investments		2,593	3,124	3,200	3,710	4,064
			Long-term loans to subsidiary companies	765	765	616	616	616
			Other long-term loans	1,074	1,609	1,834	1,680	2,166
			Investment in subsidiary companies	754	750	750	750	750
	Current assets			723	41	161	664	532
		Cash and bank balances		(544)	(55)	(24)	(416)	(429)

Liabilities				3,363	3,199	3,382	3,760	4,116

	Capital			2,199	2,110	1,985	2,078	2,451
		Government grants		701	701	701	701	1,201
		Retained earnings		-102	-191	-316	-369	-496
		Government investment		1,600	1,600	1,600	1,600	1,600
	Investment revaluation reserve			128	128	128	128	128
	Long-torn liabilities			780	780	1,206	1,495	1,670
		Kiribati Supplies Company		0	0	0	0	0
		Asian Development Bank loan		780	780	1,206	1,495	1 670
	Current liabilities			256	181	63	185	-5
		Trade credits		(202)	(127)	(22)	(39)	(46)

Source: Data provided by the Kiribati authorities.

Table 16.

Kiribati: Assets and Liabilities of the Kiribati Provident Fund, 1992-96

(In thousands of Australian dollars; end of period)

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Book value, including reinvested interest income.

^{^2/}Includes interest stabilization reserves, special death benefit reserves, and accumulated surpluses.

Table 16.

Kiribati: Assets and Liabilities of the Kiribati Provident Fund, 1992-96

(In thousands of Australian dollars; end of period)

			1992	1993	1994	1995	1996
Assets			31,461	35,892	36,073	40,771	48,409

	Common stocks		55	55	55	55	55
	Foreign investments		28,236	32,297	33,040	37,430	44,751
		Foreign equities	9,922	15,691	17,974	18,501	22,060
		Foreign government bonds ^1/	18,314	16,606	15,066	18,929	22,691
	Current assets		1,676	2,050	1,524	1,851	2,187
		Bank of Kiribati deposits	1,021	1,385	1,074	784	1,420
		Other domestic assets	655	665	450	1,067	767
	Fixed assets		1,494	1,490	1,454	1,435	1,416

Liabilities			31,461	35,892	36,073	40,771	48,409

	Members' accounts		23,223	26,673	31,404	35,279	38,381
	General reserves		3,693	3,693	3,693	3,693	3,693
	Current liabilities ^2/		4,545	5,526	976	1,799	6,335

Memorandum items:
	Change in members' accounts		2,753	3,146	2,535	3,852	6,009
		Contributions	1,479	1,137	1,844	2,439	3,102
		Interest	2,527	2,902	3,237	4,096	5,320
		Withdrawals	-1,253	-893	-2,546	-2,683	-2,413
	Interest rate paid to members
		(bi percent per annum)	13.5	13.5	13.5	13.5	13.5

Sources: Data provided by the Kiribati authorities; and Fund staff estimates.

^{^1/}Book value, including reinvested interest income.

^{^2/}Includes interest stabilization reserves, special death benefit reserves, and accumulated surpluses.

Table 16.

Kiribati: Assets and Liabilities of the Kiribati Provident Fund, 1992-96

(In thousands of Australian dollars; end of period)

			1992	1993	1994	1995	1996
Assets			31,461	35,892	36,073	40,771	48,409

	Common stocks		55	55	55	55	55
	Foreign investments		28,236	32,297	33,040	37,430	44,751
		Foreign equities	9,922	15,691	17,974	18,501	22,060
		Foreign government bonds ^1/	18,314	16,606	15,066	18,929	22,691
	Current assets		1,676	2,050	1,524	1,851	2,187
		Bank of Kiribati deposits	1,021	1,385	1,074	784	1,420
		Other domestic assets	655	665	450	1,067	767
	Fixed assets		1,494	1,490	1,454	1,435	1,416

Liabilities			31,461	35,892	36,073	40,771	48,409

	Members' accounts		23,223	26,673	31,404	35,279	38,381
	General reserves		3,693	3,693	3,693	3,693	3,693
	Current liabilities

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