- Shari Boyce, Sergei Dodzin, Ezequiel Cabezon, Fazurin Jamaludin, Yiqun Wu, and Rosanne Heller
- Published Date:
- August 2014
Asia & Pacific
SMALL STATES MONITOR
Quarterly Bulletin | Issue 02/2014
In this issue of the Asia & Pacific Small States Monitor …
…we highlight the challenges facing Asia and Pacific small states associated with natural disasters and climate change. The most recent event was the severe flood that hit Solomon Islands in April.
The IMF will hold a seminar on coping with natural disasters and climate change, co-sponsored by the World Bank Group, during the upcoming UN Conference on Small Island Developing States in Samoa. IMF Deputy Managing Director Min Zhu will attend.
Given that stronger macroeconomic policy frameworks and growth can bolster resilience to shocks, we also feature new Asia and Pacific Department (APD) research on: estimating fiscal multipliers in small states; and the role of tourism in promoting growth in Palau. We also include a note on monetary policy in Tonga and discuss the IMF’s new “Staff Guidance Note on Fund’s Engagement with Small Developing States” (prepared by the IMF Strategy, Policy, and Review Department), which provides operational guidance on the IMF’s engagement with small developing countries.
Patrizia Tumbarello, Chief of the Pacific Islands Unit, APD
“Small developing countries cannot internalize the costs of natural disasters and climate change on their own.”
Hon. Rick Houenipwela, Minister of Finance and Treasury of Solomon Islands,
during the May 2014 IMF mission
Flooding in Solomon Islands (Solomon Island Times)
Prepared by: Shari Boyce (Project Coordinator), Sergei Dodzin, Ezequiel Cabezon, Fazurin Jamaludin, and Yiqun Wu (all Pacific Islands Unit), and Rosanne Heller (Editorial Officer)
The analysis and policy considerations expressed in this publication are those of the IMF staff and do not represent official IMF policy or the views of IMF Executive Directors or their national authorities.
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