Republic of Fiji: Staff Report for the 2013 Article IV Consultation

International Monetary Fund

No 2013/370, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2013 Article IV Consultation highlights that growth in the Fijian economy increased to 2¼ percent in 2012, supported by income tax cuts, low interest rates, and the one-time payouts under the Fiji National Provident Fund (FNPF) reform, which offset the negative impact of the severe floods and Cyclone Evan on the agriculture and tourist sectors. Inflation declined as imported commodity and food prices moderated. With a lower-than-budgeted deficit of 1 percent of GDP, Fiji’s debt-to-GDP ratio continued to decline in 2012. The latest available indicators suggest accelerating growth momentum in the first half of 2013 boosted by increases in disposable income, bank borrowing, and rising investment.

Keywords: ISCR; CR; government; Fiji; policy; Fijian authorities; government ministry; policy discussion; banking sector; debt management; youth unemployment; policy recommendation; Structural reforms; Agricultural commodities; Balance of payments statistics; Pacific Islands; Asia and Pacific; Global; Australia and New Zealand (search for similar items in EconPapers)
Pages: 62
Date: 2013-12-20
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