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Vanuatu: 2024 Article IV Consultation-Press Release and Staff Report

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  • International Monetary Fund

Abstract

As Vanuatu was recovering from the multiple natural disasters of 2023, the voluntary liquidation of Air Vanuatu in May 2024 created a major shock with significant effects on growth and business confidence. The negotiations about the future of the airline, along with developments linked to the Economic Citizenship Program (ECP) will have significant economic, social, fiscal, and financial integrity implications. Disruptions to connectivity, tourism, and services will likely affect economic activity in 2024: real GDP growth is expected to grow only by around 1 percent y/y, and the current account deficit will likely widen around 7½ percent of GDP, although there is significant uncertainty to forecasts. Ongoing vulnerabilities and exposure to other risks keep the balance of risks to the downside. Structural vulnerabilities to governance, corruption, and natural disasters remain.

Suggested Citation

  • International Monetary Fund, 2024. "Vanuatu: 2024 Article IV Consultation-Press Release and Staff Report," IMF Staff Country Reports 2024/278, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2024/278
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