Download Date of Fund Membership: September 28, 1981 Standard Sources

Date of Fund Membership:
September 28, 1981
Standard Sources:
A: Reserve Bank of Vanuatu, Quarterly Economic Review and Annual Report
S: National Planning & Statistics Office, Statistical Bulletin
Exchange Rates:
Official Rate: (End of Period and Period Average):
The official exchange rate is determined on the basis of an undisclosed transactions-weighted basket of currencies.
Monetary Authorities:
Consolidates the Reserve Bank of Vanuatu (RBV) only. † Prior to October 1994, separate data for claims on central government and
claims on nonfinancial public enterprises were unavailable, and these data were indistinguishably included in Other Items, Net (line
17r). In February 1997, the European Development Fund deposited ECU 3 million in the Reserve Bank of Vanuatu on account of a
STABEX grant; these funds, which were withdrawn in March (ECU 1 million) and in April 1997 (ECU 2 million), are recorded as foreign
liabilities and are matched by foreign assets. † Beginning in December 2001, data are based on a new reporting system which provides
an improved sectorization and classification of the accounts.
Banking Institutions:
Comprises branches of foreign banks and the National Bank of Vanuatu. Beginning in July 1982, includes the Vanuatu Savings Bank.
Beginning July 1984, includes the Development Bank of Vanuatu. The Development Bank of Vanuatu ceased operations on September
30, 1998 and was liquidated. † Beginning in December 2001, data are based on a new reporting system which provides an improved
sectorization and classification of the accounts.
Banking Survey:
† See notes on monetary authorities and banking institutions .
Money (National Definitions):
Reserve Money comprises currency in circulation, banker's statutory reserve deposits (SRDs) and excess reserves, and transferable
deposits in national currency of public entities excluding the central government at the RBV. Currency in circulation refers to notes and
coins issued by the RBV. The RBV uses SRDs as monetary policy instruments calculated as ten percent of all deposits in national
currency and transferable deposits in foreign currency. † Beginning December 2001, comprises currency in circulation and bankers'
SRDs and excess reserve deposits only.
M1 comprises currency in circulation and transferable deposits. Currency in circulation refers to notes and coins issued by the RBV less
the amount held by banking institutions. Transferable deposits refer to demand deposits in national currency of state and local
governments, public nonfinancial corporations, private sector, and nonbank financial institutions with banking institutions. † Beginning
December 2001, comprises currency in circulation and transferable deposits in national currency of state and local governments, public
nonfinancial corporations, private sector, and nonbank financial institutions with the RBV and banking institutions.
M2 comprises M1 plus transferable deposits in foreign currency of state and local governments, public nonfinancial corporations, private
sector, and nonbank financial institutions with banking institutions. † Beginning December 2001, comprises M1 plus demand deposits in
foreign currency and time, fixed, and savings deposits in national and foreign currency of state and local governments, public
nonfinancial corporations, private sector, and nonbank financial institutions with the RBV and banking institutions.
MV, Vatu Liquidity comprises M1 plus time, fixed, and savings deposits in national currency of state and local governments, public
nonfinancial corporations, private sector, and nonbank financial institutions with banking institutions.
M3 comprises M2 plus time, fixed, and savings deposits in national currency of state and local governments, public nonfinancial
corporations, private sector, and nonbank financial institutions with banking institutions.
MF, Foreign Currency Liquidity comprises M2 plus time, fixed, and savings deposits in foreign currency of state and local governments,
public nonfinancial corporations, private sector, and nonbank financial institutions with banking institutions.
M4 comprises M3 plus time, fixed, and savings deposits in foreign currency of state and local governments, public nonfinancial
corporations, private sector, and nonbank financial institutions with banking institutions.
Interest Rates:
Discount Rate (End of Period):
Rate offered by the RBV on loans to commercial banks and overdrafts to the central government.
Money Market Rate:
Overnight interbank lending rate.
Deposit Rate:
Maximum representative rate offered by commercial banks on one to three-month time deposits.
Lending Rate:
Maximum representative rate charged by commercial banks on advances for commercial purposes.
Government Bond Yield:
Yield on three-year bonds. † Beginning in January 1989, yield on ten-year bonds.
Prices:
Consumer Prices:
Source S. Weights Reference Period: first quarter 2000; Geographical Coverage: two urban centers of Vanuatu: Port Vila and Luganville;
Number of Items in the Basket: 760 goods/services items for Vila, and 680 for Luganville; Basis for Calculation: the weights are derived
from urban dwellers expenditure patterns through the 1998 household surveys.
International Transactions:
All trade data are from source S.