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International Monetary Fund. Asia and Pacific Dept

primary budget surplus of 1–2 percent of GDP by the end of the medium-term. GDP Growth Rate and Tourism Flows (GDP growth in percent, Tourism flows in thousands of people) Source: Fiji Authorities. 6. While the outlook is generally positive, the balance of risks remains tilted to the downside ( Annex 1 ). The Fijian economy remains in a precarious position given pandemic-related uncertainty. Vulnerabilities have been exacerbated by scarring and diminished fiscal space. Fiji remains at high risk from natural disasters—particularly the effects of tropical

International Monetary Fund. Asia and Pacific Dept
Fiji has been among the hardest hit by the pandemic—with infection rates at one point among the highest in the world. Despite swift action by the government to close borders, protect the population, and mitigate the worst economic effects, the economic contraction was the worst in Fiji’s history. The crisis has come at a heavy social cost, including large-scale layoffs, surging unemployment, and high non-performing loans. Multilateral and bilateral support has been critical in helping Fiji weather the worst of the crisis and has facilitated a strong government response—including rapid acceleration of the government vaccination program underpinning Fiji’s reopening to international tourism.
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.