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Australia: Selected Issues

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  • International Monetary Fund

Abstract

Australia’s large external deficits appear sustainable. There are, however, risks associated with the resulting external debt that need continued careful management. These deficits, which largely reflect high investment rather than low saving, should be sustainable as long as the Australian economy, especially its exports, grow strongly. The associated accumulation of foreign liabilities nonetheless leaves the country exposed to shocks, but these risks appear to be well managed. Australia’s fiscal policy appears to be broadly consistent with guidelines for fiscal management in the face of commodity price swings.

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  • International Monetary Fund, 2006. "Australia: Selected Issues," IMF Staff Country Reports 2006/373, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2006/373
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    References listed on IDEAS

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    1. Paul Cashin & Hong Liang & C. John McDermott, 2000. "How Persistent Are Shocks to World Commodity Prices?," IMF Staff Papers, Palgrave Macmillan, vol. 47(2), pages 1-2.
    2. Robert S. Pindyck, 1999. "The Long-Run Evolution of Energy Prices," The Energy Journal, , vol. 20(2), pages 1-27, April.
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    Cited by:

    1. Rocco Huang & Mr. Lev Ratnovski, 2009. "Why Are Canadian Banks More Resilient?," IMF Working Papers 2009/152, International Monetary Fund.

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