斐济共和国：2026年第四条磋商新闻稿；员工报告；斐济共和国执行主任的发言

2026ARTICLE IV CONSULTATION—PRESS RELEASE;STAFF REPORT; AND STATEMENT BY THE EXECUTIVEDIRECTOR FORREPUBLIC OF FIJI Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussionswith members, usually every year. In the context of the2026Article IV consultation withtheRepublic of Fiji, the following documents have been released and are included in thispackage: •APress Releasesummarizing the views of the Executive Board as expressed during itsMay 29, 2026consideration of the staff report that concluded the Article IVconsultation withtheRepublic of Fiji. •TheStaff Reportprepared by a staff team of the IMF for the Executive Board’sconsideration onMay 29, 2026, following discussions that ended onMarch 27, 2026,with the officials oftheRepublic of Fijion economic developments and policies. Basedon information available at the time of these discussions, the staff report wascompleted onMay 14, 2026. •AnInformational Annexprepared by the IMFstaff. •AStatement by the Executive DirectorfortheRepublic of Fiji. TheIMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports andother documents. Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201E-mail:publications@imf.org Web:http://www.imf.org International Monetary FundWashington, D.C. IMF Executive Board Concludes2026Article IV ConsultationwithFiji FOR IMMEDIATE RELEASE Washington, DC–May 29, 2026:The Executive Board of the International Monetary Fund(IMF) completed the Article IV Consultation forFiji.1The authorities have consented to thepublication of the Staff Report prepared for this consultation.2 Economic activity remained resilientthrough 2025.Staffestimatesreal GDP growthat3.2percent,supported by solid tourism inflows, continued remittances, and fiscal stimulus.Inflation fell sharply,driven by VATratereductionsandlower duties on selected essentialgoods, butbegan to rise again as thesetemporary effects faded.The fiscal stance wassubstantially eased before the oil shocks, withtheFY2025-26 budget targetingan overalldeficit of around 6½ percent of GDP.Monetary and financial conditions remain highlyaccommodative, with theReserve Bank of Fiji (RBF)maintainingthe Overnight Policy Rate at0.25 percent. The recent oil shock will challenge Fiji’s ongoing recovery.Growth is expected tofallin2026because ofhigher oil prices, softer tourism demand, and elevated uncertainty, whileinflation is projected to increase asrisingfuel costsare reflected indomestic prices.The termsof trade effects from the oil shocks would widen the current account deficit, which is alreadysomewhat largerthan implied by medium-term fundamentals. Executive Board Assessment3 Executive Directors agreed with the thrust of the staff appraisal. They welcomed Fiji’scontinued economic recovery, supported by tourism and domestic demand. Directorsnoted,however, that the outlook has become more challenging following recent oil price increases.They emphasized that Fiji remains vulnerable to external shocks and natural disasters, whileelevated public debt, widening external imbalances, and persistent structural bottleneckscontinue to constrain policy space and weigh on living standards. In this context, Directors 1Under Article IV of theIMF’s Articles of Agreement, the IMF holds bilateral discussions with members,usually every year. A staff team visits the country, collects economic and financial information, anddiscusses with officials the country's economic developments and policies. On return to headquarters,the staff prepares a report, which forms the basis for discussion by the Executive Board. 2Under theIMF’s Articles of Agreement, publication of documents that pertain to member countries isvoluntary and requires the member consent. The staff report will be shortly published on thewww.imf.org/Fijipage. emphasized the importance of strengthening fiscal buffers and pursuing reforms to boostsustainable, inclusive growth. Directors noted that the expansionary fiscal stance has increased fiscal and financing risks ata time when public debt remains elevated. They underscored the importance of rebuildingfiscal buffers, supported by gradual and growth-friendly fiscal consolidation,while prioritizingtargeted social assistance to help the most vulnerable. They also urged continued efforts tostrengthen public financial management, debt management, and public investment capacity.Directors considered that reinforcing the medium-term fiscal framework would furtherstrengthen policy credibility and improve transparency. Directors agreed that the exchange rate peg continues to serve Fiji well as a nominal anchor.They noted, however, that persistently high excess liquidity has weakened monetarypolicytransmission and reduced the effectiveness of