Role of Money in Smaller Pacific Island Countries

Table 2

Output and monetary statistics in selected PICs.

	Output growth (%)	Inflation (%)	Interest rate (%)	Exchange rate US$/DC	M2 (% of GDP)
Samoa
1983–89 (Ave)	2.00	9.00	36.20	0.379	25.30
1990–99 (Ave)	1.40	4.80	12.40	0.38	34.90
2000–04 (Ave)	3.30	5.90	11.30	0.38	45.40
2005	5.20	1.80	11.40	0.37	42.27
2006	0.50	3.80	11.70	0.36	43.82
2007	−6.80	5.50	12.70	0.38	42.32
2008	−3.40	11.50	12.66	0.38	44.76
2009	−1.70	6.30	12.08	0.37	49.23
2010	1.50	0.80	10.72	0.40	50.69
Solomon Islands
1980–89 (Ave)	7.40	12.50	13.30	0.79	30.10
1990–99 (Ave)	2.90	10.70	16.20	0.33	28.50
2000–04 (Ave)	−2.10	8.20	14.50	0.14	26.60
2005	5.00	7.30	14.10	0.13	38.50
2006	6.08	11.23	13.90	0.13	43.38
2007	10.72	7.64	14.10	0.13	44.27
2008	7.33	17.34	14.44	0.13	38.07
2009	−1.23	7.11	15.26	0.12	39.85
2010	7.07	0.95	14.43	0.12	39.44
Tonga
1980–89 (Ave)	2.30	9.60	10.20	0.08	31.20
1990–99 (Ave)	2.00	4.50	11.60	0.07	35.90
2000–04 (Ave)	2.90	9.50	11.40	0.49	45.90
2005	−0.96	8.30	11.40	0.51	39.78
2006	0.26	6.40	12.00	0.49	38.63
2007	−0.90	5.80	12.20	0.51	42.72
2008	2.59	10.40	12.46	0.51	42.75
2009	−0.99	1.40	12.47	0.49	42.65
2010	0.32	3.60	11.54	0.52	43.38
Vanuatu
1980–89 (Ave)	8.80	8.80	16.70	0.01	109.80
1990–99 (Ave)	5.10	3.20	13.60	0.01	102.70
2000–04 (Ave)	0.60	2.80	7.90	0.07	92.60
2005	5.13	1.15	7.50	0.01	95.85
2006	7.19	2.63	8.30	0.01	91.30
2007	6.74	4.11	8.20	0.01	94.84
2008	6.33	5.83	5.30	0.01	95.41
2009	0.04	2.80	5.50	0.01	95.43
2010	3.00	2.57	5.80	0.01	98.00

Source: International Monetary Fund [14].