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International Monetary Fund
This Selected Issues paper and Statistical Appendix describes Palau’s financial sector, its recent performance, and developments in regulatory reform. The paper considers illustrative scenarios of possible outcomes for public spending levels and growth under different assumptions with respect to future grants and the long-term value of government assets held in the Compact Trust Fund. Sensitivity of the results to the rate of return on assets is considered. The paper also covers recent fiscal performance, revenue and expenditure reforms, and some financing issues.
International Monetary Fund
The staff report for the 2004 Article IV Consultation on the Federated States of Micronesia (FSM) focuses on economic developments and policies. Fiscal and structural reforms are needed for the FSM to achieve self-sufficiency. The large government sector will be increasingly unsustainable given coming declines in grants. Fiscal adjustment will need to comprise both expenditure cuts and revenue measures. Structural reform priorities should include improvements to the legal framework for land use, foreign investment, and lending.
International Monetary Fund
The Republic of Palau (Palau) has always been heavily dependent on external assistance. The availability of steady grants has allowed Palau to maintain a sizable public sector. A number of issues are considered in designing a comprehensive management strategy for the Compact Trust Fund (CTF). The following statistical data are also included in this paper: social indicators, financial position of compact trust fund, imports by product category, by country, or territory of origin, balance of payments, and so on.