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International Monetary Fund

Budget; and Fund staff estimates. 1/ Excludes National Bank of Fiji restructuring costs, and privatization receipts. 2/ Excludes errors and omissions. 3/ Imports of goods, f.o.b., and nonfactor services. 4/ Medium- or long-term debt. 5/ IMF, Information Notice System Index, 1999=100. Figure for 2002 is for January-March. 6/ Figure for 2002 is for end-May. FIGURE 1 FIJI ECONOMIC PERFORMANCE, 1986–2002 Source: Data provided by the Fiji authorities and staff estimates. Table 2. Fiji: Output and Expenditure, 1997

International Monetary Fund

price pressures are anticipated to remain weak, the 2002 year-end inflation is projected at 2.5 percent. Mainly as a result of a timely policy response by the Fijian authorities, the external sector continued to hold up well in 2001. Despite a higher merchandise trade deficit largely reflecting lower demand for Fiji’s exports and a rise in imports of capital goods, strong recovery in tourism income and improved private transfers have narrowed the current account deficit to 3.6 percent of GDP in 2001. At end March 2002, gross foreign reserves remained at a

International Monetary Fund. Asia and Pacific Dept

business environment and in governance are essential to raise potential growth and boost private investment, and to enhance productivity and competitiveness. Another priority should be to tackle the gender gap in labor force participation in order to boost potential growth and make it more inclusive. Disclaimer . The Staff Report prepared by a staff team of the IMF for the Executive Board’s consideration on February 24, 2020. The staff report reflects discussions with the Fiji authorities in December 2019 and is based on the information available as of December 15

International Monetary Fund

Board Assessment Executive Directors commended the Fiji authorities for their success in containing the macroeconomic consequences of the political events of May 2000. Building on these prompt policy actions, Fiji is now experiencing an increasingly broad-based economic expansion, accompanied by low inflation. The key economic challenge ahead will be to raise the sustainable rate of growth, supported by a durable expansion of private sector investment, while preserving macroeconomic stability in a climate of political stability. With economic recovery well under

International Monetary Fund
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.
International Monetary Fund. Asia and Pacific Dept

Overview 1. The Fijian authorities would like to express their sincere appreciation to the IMF team for the constructive and engaging dialogue during the 2015 Article IV Consultation. The authorities are in broad agreement with staff assessment of the economy as well as the proposed policy and reform priorities to enhance broad-based inclusive growth of the Fijian economy. 2. Economic activity in the lead-up to and after the National Elections in September 2014 remains strong, supported by an expansionary fiscal stance, accommodative monetary policy and a

International Monetary Fund. Asia and Pacific Dept
Fiji is enjoying a strong growth momentum due to accommodative policies, robust tourism and strong remittances, and an improvement in the terms of trade. The smooth and peaceful elections in September 2014 marked the return to democracy—leading to a normalization in relations with development partners, further boosting investor and consumer confidence. While addressing infrastructure gaps and further improving the business climate will be critical to ensure strong, sustainable and more inclusive growth, this must be balanced against the need to consolidate fiscal policy. Risks are tilted to the downside, related to external developments and prolonged accommodative policy settings.
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.