Tuvalu: 2010 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Tuvalu

International Monetary Fund

No 2011/046, IMF Staff Country Reports from International Monetary Fund

Abstract: Recent economic developments of Tuvalu were discussed. Major construction projects to build a wharf and a power station have been completed, and seafarer employment—Tuvalu’s main foreign exchange earning source for the private sector—is weak. The Consolidated Investment Fund (CIF) available for budget financing will be depleted. Freezing wages and reducing travel costs will also be important. Improvements in the banking sector and credit culture will help to support private-sector development. Executive Directors agreed to ensure fiscal sustainability.

Keywords: ISCR; CR; Tuvalu; government; Tuvaluan authorities; GDP; lending; reform program; macroeconomic issue; lending standard; lack of economies of scale; Tuvalu's economy; windfall earnings; Public enterprises; Income; Capital spending; Global; Pacific Islands (search for similar items in EconPapers)
Pages: 42
Date: 2011-02-08
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