On February 24, 2020 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Fiji. The report focuses on Fiji's near and medium-term challenges and policy priorities and was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. It, therefore, does not reflect the implications of these developments and related policy priorities. The outbreak has greatly amplified uncertainty and downside risks around the outlook.
Executive Directors welcomed the recent pickup in activity after a sharp slowdown in 2019 and noted that the medium-term growth outlook is favorable but subject to significant risks, including rising fiscal and external imbalances, and natural disasters. They emphasized the need to consolidate the fiscal position, boost potential growth, and build resilience to weather-related shocks.