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International Monetary Fund. Asia and Pacific Dept

2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati

International Monetary Fund. Asia and Pacific Dept
Growth has been strong in recent years and some moderation is expected, with risks skewed to the downside. High fishing revenues improved the fiscal position, but generated pressure to increase spending. There has been progress on fiscal and structural reforms. Yet, public spending needs are large, driven by an infrastructure gap and climate adaptation costs, and the country remains at high risk of debt distress.
Mr. James Daniel and Mr. Kevin Fletcher

2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati

International Monetary Fund. Asia and Pacific Dept

2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati

International Monetary Fund. Asia and Pacific Dept

2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati

International Monetary Fund. Asia and Pacific Dept

2017 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund. Asia and Pacific Dept
This 2017 Article IV Consultation highlights that Kiribati’s economic fundamentals have strengthened in recent years. Strong fishing revenue improved the fiscal position, strengthened the current account, and boosted business confidence. After registering a double-digit rate in 2015, real GDP growth declined to 1.1 percent in 2016, but is projected to pick up to about 3 percent in 2017 driven by construction and wholesale and retail trade. The authorities have made commendable progress in structural reforms. They have implemented important reforms to improve the governance and management of the Revenue Equalization Reserve Fund and replenished the fund from the cash reserves. Despite a favorable economic outlook, risks to near-term growth are substantial and skewed to the downside.