DOCSLIB.ORG

02307-9781463939595.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
02307-9781463939595.Pdf ©1995 International Monetary Fund December 1995 IMF Staff Country Report No. 95/128 Fiji-Background Material This report on Fiji was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Fiji, or the Executive Board of the IMF. Copies of this report are available to the public from International Monetary Fund • Publication Services 700 19th Street, N.W. • Washington, D.C. 20431 Telephone: (202) 623-7430 • Telefax: (202) 623-7201 Telex (RCA): 248331 IMF UR Internet: [email protected] Price: $15.00 a copy International Monetary Fund Washington, D.C. ©International Monetary Fund. Not for Redistribution This page intentionally left blank ©International Monetary Fund. Not for Redistribution INTERNATIONAL MONETARY FUND FIJI Background Material Prepared by H. Khor, M. Cangiano (both SEA), H. Faruqee (RES), and A. Zimmerman (OMD) Approved by the Southeast Asia and Pacific Department November 1, 1995 Contents Page Basic Data, 1989-94 4 I. Review and Analysis of Growth Performance 5 A. Introduction 5 B. Overview of Developments During 1968-94 5 1. Economic developments 5 2. General constraints to growth 7 3. Policy developments 12 C. Determinants of Growth: An Empirical Investigation 12 1. Measures of potential GDP and output gap 12 2. Factor contributions to growth 16 3. Short-run determination of output 18 D. Conclusions 19 II. Exchange Rate Developments ?? A. Introduction 99 B. Exchange Rate Policy and Developments 23 C. Determinants of the Long-Run Equilibrium Real Exchange Rate 25 D. Empirical Estimates of the Long-Run Real Exchange Rate 26 E. Concluding Remarks 30 ©International Monetary Fund. Not for Redistribution -2- Contents Page ANNEX I. Summary of Structural Reforms 70 ANNEX II. Summary of the Tax System as of October 19, 1995 76 Boxes 1. Political Background 8 2. International Trade Agreements and Arrangements 13 3. Land Tenure System 14 Text Tables 1 Regional Comparison of Social and Demographic Indicators .6 2. Selected Economic Indicators, 1968-94 9 3. Factor Contributions to Output Growth, 1971-94 17 4. Estimates of Growth Equation, 1973-94 20 Appendix Tables 5. Gross Domestic Product by Industrial Origin, 1989-94 32 6. Gross Domestic Product by Expenditure at Current Market Prices, 1989-94 . 33 7. Sugarcane Production and Growers' Income, 1989-94 34 8. Primary Production, 1989-94 34 9. Industrial Production, 1989-95 36 10. Tourism Statistics, 1989-94 37 11. Tax-Free Factories Sector, 1989-94 38 12. Consumer Prices, 1989-95 39 13. Paid Employment by Sector, 1989-94 40 14. Domestic Sales and Prices of Petroleum Products, 1989-94 41 15. Wage and Salary Earnings, 1989-94 42 16. Central Government Finances, 1989-95 43 17. Central Government Revenue and Grants, 1989-95 44 18. Central Government Debt, 1989-94 45 19. Financial Position of Major Public Enterprises, 1989-93 46 20. Operating Profits and Losses of Major Public Enterprises, 1989-94 47 21. Budgetary Appropriations to Major Public Enterprises, 1989-94 48 22. Monetary Survey, 1989-95 49 23. Assets of the Financial System, 1985-94 50 24. Balance Sheet of Monetary Authorities, 1989-95 51 25. Liquidity Position of Commercial Banks, 1989-95 52 26. Structure of Interest Rates, 1989-95 53 ©International Monetary Fund. Not for Redistribution -3- Contents Page 27. Deposit Money Banks, 1988-95 54 28. Loans and Advances of Commercial Banks, 1989-95 55 29. Ownership of Deposits of Commercial Banks, 1989-95 56 30. Maturity of Time Deposits of Commercial Banks, 1989-95 57 31. Consolidated Assets and Liabilities of Nonbank Financial Institutions, 1989-94 . 58 32. Balance of Payments, 1989-94 59 33. Exports by Commodity, 1989-94 60 34. Sugar Exports by Destination, 1989-94 61 35 Total Imports and Re-exports, 1989-94 62 36. Petroleum Product Imports, Re-exports, and Retained Imports, 1989-94 63 37. Direction of Trade, 1989-94 64 38. Services and Transfers, 1989-94 65 39. Capital Account, 1989-94 66 40. External Debt and Debt Service, 1989-1994 67 41. International Reserves, 1989-95 68 42. Items Under Import Licensing, 1989-94 69 Charts 1. Economic Performance, 1970-94 10 2. Real Effective Exchange Rate, Terms of Trade, and Trade Balance, 1970-94 . 11 3 Potential Output and Output Gaps, 1970-94 15 4. Per Capita Output, Population Growth, Openness, and Financial Development, 1970-94 21 5 Exchange Rate Developments, 1970-95 24 6. Underlying Trends in the Real Effective Exchange Rate, 1975-95 27 Referernces 31 ©International Monetary Fund. Not for Redistribution -4- Flji: Basic Data, 1989-94 Prov. 1989 1990 1991 1992 1993 1994 Growth (percent change) Population 0.8 1.4 1.4 1.6 1.7 0.8 Real GDP (at factor cost) 12.6 3.8 0.5 32 1.8 4.5 Sugarcane output 28.7 -2.0 -15.8 4.5 4.7 9.8 Tourist arrivals 20.4 11.3 -7.0 7.4 3.2 10.9 Inflation (percent change) Consumer prices (period average) I/ 6.1 82 6.5 4.9 52 0.6 Real wages -8.1 -2.3 -1.4 2.0 -02 2.4 Terms of trade (percent change) 2/ -13 -32 0.3 0.5 3.0 2.4 Employment (percent change) 3.0 1.6 2.7 2.7 1.5 1.2 Unemployment rate (in percent) 6.1 6.4 5.9 5.4 5.9 5.8 Money and credit (percent change) Domestic credit (net) 25.4 21.4 22.7 13.5 12.8 4.4 Government 1.6 -42.8 219.8 77.5 -5.1 -57.7 Other official entities -3.4 10.6 29.8 21.4 21.6 03 Private sector 31.4 25.1 18.7 9.7 12.9 8.7 Broad money (M2) 9.4 25.2 14.3 14.3 6.7 2.7 Investment and savings (percent of GDP) Gross domestic investment 14.3 1S2 13.9 13.4 15.6 14.9 Gross national savings 18.9 14.8 14.0 14.0 112 11.7 Central government budget (percent of GDP) Revenue and grants 25.8 27.3 26.5 252 253 25.8 Total expenditure 28.0 27.1 27.8 28.0 28.7 27.1 Current 21.5 22.3 22.4 23.7 25.1 232 Capital 6.5 4.7 5.4 4.4 3.7 3.9 Overall balance -22 0.3 -1.3 -2.9 -3.4 -13 Balance of payments (US$ mn.) Exports, f.o.b. 377.1 415.6 360.9 348.6 367.6 484.7 Imports, f.o.b. 489.0 641.6 5493 538.8 652.8 725.7 Net services and transfers 169.1 179.7 189.6 2002 2123 182.6 Current account balance 57.2 -46.3 12 10.0 -72.8 -58.4 (In percent of GDP) (4.6) (-3.4) (0.1) (0.6) (-4.4) (-32) Capital account balance 3/ -57.1 50.6 -8.1 48.4 -43 20.4 Overall balance/deficit (-) -4.1 43.2 15.0 652 -40.0 -8.8 Gross official reserves (US$ mn.; end of period) 213.4 261.8 2723 3193 270.4 274.5 (In months of imports, c.i.f.) (4.8) (4.6) (5.5) (6.8) (4.5) (4.1) External debt (US$ mn.; end of period) 347.7 3252 286.5 284.1 278.5 261.7 (In percent of GDP) (27.9) (23.5) (19.4) (18.6) (16.6) (13.6) Debt service (US$ mn.) 89.1 1062 86.8 73.7 80.6 94.9 (In percent of exports of goods and services) (12.1) (12.6) (11.0) (9.6) (9.4) (8.8) Exchange rate (end of period) Nominal effective rate 4/ 66.0 65.6 66.0 65.8 67.0 68.0 Real effective rate 4/ 68.0 70.1 71.0 73.8 753 75.0 FSperUSS 1.49 1.46 1.47 1.56 1.54 1.41 Quota = SDR 51. 1 million Sources: Data provided by the Fiji authorities; and staff estimates. II Starting from 1994, data reflect the new consumer price index (1993 base year). 21 Average of main categories of export and import unit values weighted by the 1987-89 composition of Fiji's trade. 3/ Excludes errors and omissions. 41 IMF, Information Notice System index, 1980= 100, adjusted to exclude Brazil from Fiji's trading partners covered by the index. ©International Monetary Fund. Not for Redistribution -5- L Review and Analysis of Growth Performance A. Introduction Fiji is one of the most developed of the Pacific island economies (PIEs), with a per capita GDP of about US$2,300 and a population of 780,000 (Table I).1 Although garments have emerged as a major export sector, Fiji's economy remains highly dependent on the sugar and tourism sectors, which account for about 40 percent of foreign exchange earnings. Despite favorable natural resource endowment and a relatively well-developed infrastructure, Fiji's growth has averaged only 214 percent over the last 20 years, and the growth pattern has been characterized by a high degree of volatility. This paper reviews Fiji's growth performance since the late 1960s and empirically examines the factors underlying its weak performance. It concludes that Fiji's growth performance, like most of the other PIEs, has been constrained by its remoteness and vulnerability to external shocks.
Load more

Recommended publications
  • Aviation in the Pacific International Aviation Services Are Crucial to Trade, Growth, and Development in the Pacific Region
    Pacific Studies Series About Oceanic Voyages: Aviation in the Pacific International aviation services are crucial to trade, growth, and development in the Pacific region. Improved access provided by international aviation from every other region in the world to an increasing number of islands is opening new opportunities. Tourism contributes substantially to income and employment in many Pacific countries, usually in areas outside of the main urban centers, and enables air freight services for valuable but perishable commodities that would otherwise not be marketable. Although some features of the Pacific region make provision of international aviation services a challenge, there have also been some notable successes that offer key lessons for future development. Case studies of national aviation sector experience show the value of operating on commercial principles, attracting international and OCEANIC V private-sector capital investment, assigning risk where it can best be managed, and liberalizing market access. Integration of the regional market for transport services, combined with harmonized but less restrictive regulations, would facilitate a greater range of services at more competitive prices. Pacific island country governments have the ability to create effective operating environments. When they do so, experience O shows that operators will respond with efficient service provision. YAGES: About the Asian Development Bank Av ADB aims to improve the welfare of the people in the Asia and Pacific region, IATI particularly the nearly 1.9 billion who live on less than $2 a day. Despite many success stories, the region remains home to two thirds of the world’s poor. ADB is O N IN THE PACIFIC a multilateral development finance institution owned by 67 members, 48 from the region and 19 from other parts of the globe.
    [Show full text]
  • Tuvalu Diagnostic Trade Integration Study 2010 Report
    Tuvalu Diagnostic Trade Integration Study 2010 Report Text Copyright © Integrated Framework Partnership 2010. All rights reserved. Design Copyright © Blue Planet Media + Communications Vanuatu 2011. All rights reserved. USP Library Cataloguing-in-Publication Data Tuvalu diagnostic trade integration study, 2010 report / [Daniel Gay, editor].—Suva, Fiji : UNDP Multi Country Office, 2011. 146 p. : ill. ; 24 cm. ISBN 978–982–304–036–3 1. Tuvalu—Commerce 2. Tuvalu—Economic conditions 3. Economic development—Tuvalu 4. Tuvalu—Economic policy I. Gay, Daniel II. UNDP Multi Country Office (Fiji). HF4032.35.Z5 T88 2011 380.099682 Edited, designed and produced by Blue Planet Media + Communications Vanuatu. Email: [email protected] Table of contents Table of contents..........................................................................................................................................1 Preface...............................................................................................................................................................4 Foreword..........................................................................................................................................................5 Acronyms........................................................................................................................................................7 Executive summary....................................................................................................................................9 Recommendations..................................................................................................................................
    [Show full text]
  • Domestic Air Services Domestic Airstrips and Airports Are Located In
    Domestic Air Services Domestic airstrips and airports are located in Nadi, Nausori, Mana Island, Labasa, Savusavu, Taveuni, Cicia, Vanua Balavu, Kadavu, Lakeba and Moala. Most resorts have their own helicopter landing pads and can also be accessed by seaplanes. OPERATION OF LOCAL AIRLINES Passenger per Million Kilometers Performed 3,000 45 40 2,500 35 2,000 30 25 1,500 International Flights 20 1,000 15 Domestic Flights 10 500 5 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Revenue Tonne – Million KM Performed 400,000 4000 3500 300,000 3000 2500 200,000 2000 International Flights 1500 100,000 1000 Domestic Flights 500 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Principal Operators Pacific Island Air 2 x 8 passenger Britton Norman Islander Twin Engine Aircraft 1 x 6 passenger Aero Commander 500B Shrike Twin Engine Aircraft Pacific Island Seaplanes 1 x 7 place Canadian Dehavilland 1 x 10 place Single Otter Turtle Airways A fleet of seaplanes departing from New Town Beach or Denarau, As well as joyflights, it provides transfer services to the Mamanucas, Yasawas, the Fijian Resort (on the Queens Road), Pacific Harbour, Suva, Toberua Island Resort and other islands as required. Turtle Airways also charters a five-seater Cessna and a seven-seater de Havilland Canadian Beaver. Northern Air Fleet of six planes that connects the whole of Fiji to the Northern Division. 1 x Britten Norman Islander 1 x Britten Norman Trilander BN2 4 x Embraer Banderaintes Island Hoppers Helicopters Fleet comprises of 14 aircraft which are configured for utility operations.
    [Show full text]
  • 1. While Fiji Has Made Sectoral Reforms
    WT/TPR/S/213 Trade Policy Review Page 84 IV. TRADE POLICIES BY SECTOR (1) INTRODUCTION 1. While Fiji has made sectoral reforms since its last Review, significant impediments remain to efficient resource allocation (such as government intervention, state-ownership, public and private monopolies and a general lack of competition), and thus to international competitiveness. Further market-opening and deregulatory measures in key sectors would facilitate adjustment toward a more diversified and efficient economy. 2. Agriculture, including subsistence farming, remains vital to the economy, despite its small and declining GDP share, which fell from 10.9% in 2001 to 9.8% in 2006. Its comparatively low labour productivity reflects many factors e.g. subsistence farming, small farms, low mechanization, inadequate inputs, poor husbandry and other farming practices, inadequate infrastructure, marketing deficiencies, and high production costs due to lack of scale economies and expensive farm inputs. Land tenure reform is essential for greater productivity. Government sees agriculture as fundamental to reviving the economy and promoting food security through self-sufficiency (e.g. in rice and milk). Import substitution policies include relatively moderate to high tariffs, the main border assistance measure, on foodstuffs. An Import Substitution Plan was adopted in 2008. The sugar industry, one of the main farming activities, is inefficient. It is protected by relatively high MFN tariffs of 27% and import licensing, and is controlled by a majority state-owned monopoly processor, the Fiji Sugar Corporation. It makes losses despite receiving government subsidies (e.g. grants and guaranteed loans) and guaranteed high prices on quota exports to the EC (and United States).
    [Show full text]
  • Submission to Commerce Commission on the Review of The
    Consumer Council of Fiji Submission to The Commerce Commission On The Review of the Control of Substantial Market Power for Pacific Sun and Other Operators in the Domestic Market March 2010 4 Carnarvon Street | SUVA Phone: 679 3300792 | Fax: 679 3300115 1.0 Introduction The Consumer Council welcomes the Commerce Commission's decision to probe the domestic air services sector which we believe is long overdue. The Council acknowledges the appropriate response taken by the Commission towards long-standing consumer and general public concerns over the state of the country's domestic air services. The Council has for the past two years received both registered and unregistered complaints from consumers, the general public and even businesses, regarding the deterioration of services by Pacific Sun and the general state of domestic aviation. Domestic air services are vital to Fiji's development as it is geo-physically made up of islands. While sea transportation has provided the vital links between the islands, air transportation has become equally important particularly in the 21st century where there is much higher demand for faster modes of transport and communication. Thus, like other modes of transportation which have been subjected to regular scrutiny and review, the Council sees no reasons why domestic air services should be treated any differently. 2.0 Scope of Submission The Council wishes to limit its comments to the status of Pacific Sun as the dominant player in domestic air services. The Council will also discuss some issues regarding the non-operational Air Fiji as its demise had an impact on the domestic air services sector and the state of competition.
    [Show full text]
  • Pacific Islands: Fiji Solomon Islands Western Samoa Vanuatu Tonga
    COUNTRY PROFILE Pacific Islands: Fiji Solomon Islands Western Samoa Vanuatu Tonga Our quarterly Country Report, Pacific Islands: Papua New Guinea, Fiji, Solomon Islands, Western Samoa, Vanuatu, Tonga, analyses current trends. This annual Country Profile provides background political and economic information about Fiji, Solomon Islands, Western Samoa, Vanuatu, Tonga and some of the smaller territories. Papua New Guinea has a separate Country Profile of its own. 1996-97 The Economist Intelligence Unit 15 Regent Street, London SW1Y 4LR United Kingdom The Economist Intelligence Unit The Economist Intelligence Unit is a specialist publisher serving companies establishing and managing operations across national borders. For over 40 years it has been a source of information on business developments, economic and political trends, government regulations and corporate practice worldwide. The EIU delivers its information in four ways: through subscription products ranging from newsletters to annual reference works; through specific research reports, whether for general release or for particular clients; through electronic publishing; and by organising conferences and roundtables. The firm is a member of The Economist Group. London New York Hong Kong The Economist Intelligence Unit The Economist Intelligence Unit The Economist Intelligence Unit 15 Regent Street The Economist Building 25/F, Dah Sing Financial Centre London 111 West 57th Street 108 Gloucester Road SW1Y 4LR New York Wanchai United Kingdom NY 10019, USA Hong Kong Tel: (44.171) 830 1000
    [Show full text]
  • Pacific Luxperience
    Pacific Luxperience Somewhere beyond the horizon lies the true meaning of peace & tranquility 82 Getting around the Pacific Fiji Airways and its new fleet of A330s is The Jetstar Group is one of Asia Pacific’s We pride ourselves in being your airline of Air New Zealand flies daily from London to Fly when and where you want with Air Qantas flies twice daily from London the national airline of Fiji, connecting our 2 fastest growing airlines. It’s made up of Jetstar choice, so we have taken every step to ensure Los Angeles where customers can pick up Niugini charters. Our charter flights give you Heathrow via Dubai to Australia where your international airports, Nadi and Suva to over Airways (a subsidiary of the Qantas Group) we operate one of the world’s most advanced their direct flight to Nadi with Fiji Airways. the freedom to travel when, where and with customers can connect onto Qantas code 15 international destinations in 10 different in Australia and New Zealand, Jetstar Asia in and modern fleet of aircraft. Attractive and On board Air New Zealand’s award-winning whom you choose. Available to individuals, share flights operated by Fiji Airways from countries. We fly to Fiji twice a day from Singapore, Jetstar Pacific in Vietnam and powerful, and with more than 130 aircraft in 777-300ER from London customers can try groups of people and companies, this service Melbourne, Sydney and Brisbane to Fiji. The Sydney, and daily from Brisbane, Auckland Jetstar Japan. Each week we send more than operation, our fleet is a frontrunner in its field.
    [Show full text]
  • Patrick & Erika
    WHAT TO EXPECT WHEN TRAVELING TO Fiji & Taveuni PATRICK & ERIKA www.raiwasa.com Introduction Exotic. Colorful. Vibrant. Friendly. Gracious. Fiji has been described as every- one’s favorite South Pacific country and Taveuni is one of its most ap- pealing islands. Spectacular is a word that’s often used to describe the landscape from the palm-fringed shores and coral reefs to the lush, forested mountains. Once upon a time Fiji was identi- fied as the “Cannibal Isles.” Today visitors will discover a warm, hos- pitable welcome that makes it the friendliest place on Earth. Explore Fiji and Taveuni for the experience of a lifetime. Bula! WHAT TO EXPECT WHEN TRAVELING TO FIJI AND TAVEUNI 2 Taveuni Fiji Known as the Garden Island, Taveuni, Fiji’s third largest island, is acclaimed for its lush, South of the Hawaiian Islands and multi-colored vegetation with about sixty percent of the land being tropical rainforest. North of New Zealand and Australia Its warm crystal-clear waters, soft and hard coral reefs and exotic marine life have lies the nation of Fiji, a scattering earned it a well-deserved reputation as a spectacular diving destination. of over 300 islands mostly formed On land, Taveuni offers equally stunning experiences with guided hikes through through volcanic eruptions millions remote villages to awe-inspiring, cascading waterfalls and natural water slides. Enjoy of years ago. participating in traditional Fijian cultural ceremonies. Whether you simply want to kick-back and relax or explore an incredibly diverse island, Taveuni has something The country enjoys a perfect South for everyone.
    [Show full text]
  • Asian Development Bank Tar:Fij 35493
    ASIAN DEVELOPMENT BANK TAR:FIJ 35493 TECHNICAL ASSISTANCE (Financed by the Japan Special Fund) TO THE REPUBLIC OF THE FIJI ISLANDS FOR PREPARING THE CIVIL AVIATION AND AIRPORTS IMPROVEMENT PROJECT April 2003 CURRENCY EQUIVALENTS (as of 14 March 2003) Currency Unit – Fiji Dollar (F$) F$1.00 = US$0.50 US$1.00 = F$2.00 ABBREVIATIONS AFL – Airports Fiji, Limited CAAFI – Civil Aviation Authority of Fiji Islands GCC – Government Commercial Company GDP – gross domestic product MOFPT – Ministry of Finance, Planning, and Telecommunications MOTCA – Ministry of Transport and Civil Aviation MPAF – Maritime and Port Authority of Fiji MPE – Ministry of Public Enterprises NOTE The Fiji dollar is linked to a weighted basket of currencies of the country’s major trading partners. This report was prepared by S. Jarvenpaa, Pacific Operations Division. I. INTRODUCTION 1. The Government of the Fiji Islands (the Government) has requested support from the Asian Development Bank (ADB) for a technical assistance (TA) to prepare a civil aviation and airports improvement project. 2. Fact-finding for the TA was conducted in December 2002. The Fact-Finding Mission reached understandings with the Government and its agencies; Civil Aviation Authority of Fiji Islands (CAAFI); and Airports Fiji, Limited (AFL) on the TA objectives, scope, cost estimates, financing plan, implementation arrangements, and terms of reference for the consultant services. These are recorded in a memorandum of understanding. The TA is included in ADB’s 2003 country strategy and program update for the Fiji Islands.1 This TA report was prepared based on the Mission's observations in the field and discussions with the Government and its agencies.
    [Show full text]
  • Report of the Auditor-General of the Republic of Fiji
    REPORT OF THE AUDITOR-GENERAL OF THE REPUBLIC OF FIJI 2017-2018 Financial Statements of Government & 2017-2018 Agency Financial Statements of Ministry of Economy PARLIAMENT OF FIJI PARLIAMENTARY PAPER NO. 186 OF 2020 LOCATION : Level 8, Ratu Sukuna House 2-10 MacArthur Street Suva, Fiji PO BOX : 2214, Government Buildings Suva, Fiji TELEPHONE : (679) 330 9032 EMAIL : [email protected] WEBSITE : www.oag.gov.fj CONTENTS Part A: 2017-2018 Financial Statements of Government Part B: Report on the Financial Statements of Government Part C: 2017-2018 Agency Financial Statement of Ministry of Economy Part A: 2017-2018 Financial Statements of Government Financial Statements Government of the Republic of Fiji for the period ending 31 July 2018 Table of Contents Schedules Description Page No. Primary Financial Statement according to Cash Basis IPSAS Schedule 1 Statement of Cash Receipts and Payments……………………...………………………… 1 Schedule 2 Statement of Comparison of Budget and Actual Amounts by Budget Funding 2 Programme……………………………………………………………………...……….. Schedule 2A Statement of Comparison of Budget and Actual Amounts by Expenditure Economic 3 classifications……………………………………………………………………………….. Notes to and forming parts of the Financial Statements (Note 1 - 23)…………………… 4-21 Other Financial Statement required by law Schedule 3 Statement of Assets and Liabilities………………………………..……………...……….. 22 Schedule 4 Statement of Revenue and Expenses……………………………………………..……….. 23 Schedule 5 Statement of Contingent Liabilities ……………………………………………..…………. 24 Notes to and forming parts of Other Financial Statements (Note 24 - 50)………..………. 25-46 Schedule 6 Segmentation Report by Fund Classification……………………………………...………. 47-48 Schedule 7 Summary of Revenue……………………………………………………………………… 49 Schedule 8 Detailed Revenue Comparison…………………………………………………………….. 50-56 Schedule 9 Statement of Expenditure against Appropriation Heads……………….………………….
    [Show full text]
  • Impact of Globalization on Food Consumption, Health and Nutrition in Nigeria Kolawole Olayiwola1, Adedoyin Soyibo and Tola Atinmo
    Globalization of food systems in developing countries: impact on food security and nutrition 99 Impact of globalization on food consumption, health and nutrition in Nigeria Kolawole Olayiwola1, Adedoyin Soyibo and Tola Atinmo INTRODUCTION Globalization refers to the way in which developments in one region can rapidly come to have significant consequences for the security and well-being of communities in quite distant regions of the globe. As there can be no island of prosperity in an ocean of economic instability, globalization expresses the widening scope, deepening impact and speeding up of interregional flows and networks of interaction within all realms of social activity from the cultural to the criminal (McGrew, 2000). Globalization is a force that can neither be halted nor ignored. This implies greater difficulties for countries trying to isolate themselves from the world marketplace. It offers growth prospects to national economies if they satisfy its requirements in terms of flexibility and competitiveness, which include designing and implementing domestic policies to meet global requirements (International Monetary Fund, 1997). It is argued that countries can be exposed to new technologies and ideas, which can create jobs, improve incomes and reduce poverty. This is predicted to have a positive influence on the health and nutritional status of people across the world. There is the presence of the perpetuation of social vulnerability (Bahalla and Lapeyre, 1999). Also, advances in information technology may have profound effects that directly influence health (Daulaire, 1999). The glamorization of self-serving and unsustainable lifestyles is one of the effects of the spread in information technology, which may negatively affect health status and worsen poverty.
    [Show full text]
  • Pacific Preparedness Project - Logistics Assessment / Shipping
    2 Pacific Preparedness Project - Logistics Assessment / Shipping - Republic of Fiji Republic of Samoa Republic of Solomon Isles Kingdom of Tonga Republic of Vanuatu Commenced: 11th October 2015 Completed: 30st December 2015 Logistics Assessment (shipping) - WFP- Oct-Dec 2015 3 The Pacific Islands in perspective to the larger land masses of New Zealand, Papua New Guinea and Australia. Logistics Assessment (shipping) - WFP- Oct-Dec 2015 4 Index page Section 1: Executive Summary 5 Section 2: Acronyms 8 Section 3: Project Background and Deliverables 9 Section 4: Island Shipping – Cabotage 11 Section 5: Cruise Ships 13 Section 6: Summary Recommendations by Island Nation 14 Section 7: Assessment - Republic of Fiji 17 § Introduction § Ports and Gateways § Ships and schedules § Warehouse and Storage § Government and Private sector structures § Route Notes – Suva – Nadi. – 4th – 5th November 2015. Section 8: Assessment - Republic of Vanuatu 33 § Introduction § Ports and Gateways § Ships and schedules § Warehouse and Storage § Government and Private sector structures Section 9: Assessment - Republic of Solomon Islands 40 § Introduction § Ports and Gateways § Ships and schedules § Warehouse and Storage § Government and Private sector structures § Emergency Storage areas- sites § General. Section 10: Assessment – Kingdom of Tonga 49 § Introduction § Ports and Gateways § Ships and schedules § Warehouse and Storage § Government and Private sector structures Section 11: Republic of Samoa 57 § Introduction § Ports and Gateway § Ships and schedules §
    [Show full text]