Fiji: Staff Report for the 2002 Article IV Consultation

January 8, 2003

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Fiji: Staff Report for the 2002 Article IV Consultation, (USA: International Monetary Fund, 2003) accessed September 27, 2024

Summary

This 2002 Article IV Consultation highlights that following the political crisis, Fiji experienced sharp declines in tourism earnings, while external sanctions adversely affected investment and textile exports. As a result, GDP fell 2¾ percent in 2000, and the current account deficit widened to 6½ percent of GDP. Financial stability and the basket peg of the Fiji dollar were maintained through tightening of domestic monetary policy and exchange controls, together with government spending cuts to offset the impact of weaker growth on the fiscal deficit.

Subject: Exchange restrictions, Expenditure, External debt, Foreign exchange, Public debt, Revenue administration

Keywords: Approvals to commercial banks, Asia and Pacific, Australia and New Zealand, CR, Current account transaction, Exchange restrictions, Fijian authorities, Fiscal policy, Foreign exchange dealer, GDP ratio, Government, ISCR, Monetary policy, Pacific Islands, Reserve bank of Fiji

Publication Details

Pages:

52
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/008
Stock No:

1FJIEA0012003
ISBN:

9781451813340
ISSN:

1934-7685

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