UID:
edocfu_9958077085702883
Format:
1 online resource (20 p.)
Edition:
1st ed.
ISBN:
1-4623-3567-5
,
1-4527-0876-2
,
1-282-39215-8
,
9786613820587
,
1-4519-0947-0
Series Statement:
IMF working paper ; WP/06/234
Content:
This paper examines the potential advantages and disadvantages of adopting a common currency arrangement among the six IMF member Pacific island countries that have their own national currency. These countries are Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga, and Vanuatu. The study explains that the present exchange rate regimes-comprising pegging to a basket of currencies for five countries and the floating arrangement for Papua New Guinea-have generally succeeded in avoiding inflationary, balance of payments, external debt, and financial system problems. The study concludes that adopting a common currency in the Pacific would require greater convergence of domestic policies and substantial strengthening of regional policies, which would take time to achieve.
Note:
"October 2006."
,
""Contents""; ""I. INTRODUCTION""; ""II. ECONOMIC CHARACTERISTICS AND EXCHANGE RATE POLICY IN THE PACIFIC REGION ""; ""III. COMMON CURRENCY AREAS: EXPERIENCE IN OTHER REGIONS""; ""IV. ISSUES IN THE CONSIDERATION OF A COMMON CURRENCY AREA IN THE PACIFIC REGION""; ""V. CONCLUDING REMARKS""; ""References""
,
English
Additional Edition:
ISBN 1-4518-6494-9
Language:
English
