04563oam 22011174 450 991078852200332120231128185847.01-4623-3567-51-4527-0876-21-282-39215-897866138205871-4519-0947-0(CKB)3360000000443098(EBL)3014459(SSID)ssj0000943005(PQKBManifestationID)11592954(PQKBTitleCode)TC0000943005(PQKBWorkID)10974704(PQKB)10008590(OCoLC)694141124(MiAaPQ)EBC3014459(IMF)WPIEE2006234(EXLCZ)99336000000044309820020129d2006 uf 0engur|n|---|||||txtccrPacific Island Countries : Possible Common Currency Arrangement /David Orsmond, Christopher BrowneWashington, D.C. :International Monetary Fund,2006.1 online resource (20 p.)IMF Working Papers"October 2006."1-4518-6494-9 Includes bibliographical references.""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""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.IMF Working Papers; Working Paper ;No. 2006/234Monetary unionsIslands of the PacificMoneyIslands of the PacificExports and ImportsimfForeign ExchangeimfMoney and Monetary PolicyimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfFinancial Aspects of Economic IntegrationimfDevelopment Planning and Policy: Trade PolicyimfFactor MovementimfForeign Exchange PolicyimfMonetary economicsimfCurrencyimfForeign exchangeimfInternational economicsimfCurrenciesimfMonetary unionsimfExchange rate arrangementsimfExchange rate policyimfExchange ratesimfMoneyimfPapua New GuineaimfMonetary unionsMoneyExports and ImportsForeign ExchangeMoney and Monetary PolicyMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsFinancial Aspects of Economic IntegrationDevelopment Planning and Policy: Trade PolicyFactor MovementForeign Exchange PolicyMonetary economicsCurrencyForeign exchangeInternational economicsCurrenciesMonetary unionsExchange rate arrangementsExchange rate policyExchange ratesMoneyOrsmond David1462090Browne Christopher1462091International Monetary Fund.Asia and Pacific Dept.DcWaIMFBOOK9910788522003321Pacific Island Countries3670942UNINA