Pacific Island Countries : Possible Common Currency Arrangement / David Orsmond, Christopher Browne.

Format:

Book

Government document

Author/Creator:

Orsmond, David.

Contributor:

Browne, Christopher.

International Monetary Fund. Asia and Pacific Department.

Series:

IMF Working Papers; Working Paper ; No. 2006/234

IMF Working Papers

Language:

English

Subjects (All):

Monetary unions--Islands of the Pacific.

Monetary unions.

Money--Islands of the Pacific.

Money.

Physical Description:

1 online resource (20 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

Summary:

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.

Contents:

""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""

Notes:

"October 2006."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786613820587

9781462335671

1462335675

9781452708768

1452708762

9781282392151

1282392158

9781451909470

1451909470

OCLC:

694141124