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International Monetary Fund
This paper reviews economic developments in the Marshall Islands during 1996–98. Real GDP declined by 15.2 percent and 5.3 percent in FY1996 and FY1997, respectively, reflecting mainly the effects of the adjustment measures implemented by the government since 1996 under the Policy Reform Program aimed at correcting the large imbalances in the public finance and external sector. Agriculture and fishing activities declined in FY1996 but recovered partially the following year. Construction fell sharply in FY1996 and stagnated in FY1997 with no new major projects following the completion of a 150-room hotel and the dry dock.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
This report describes economic developments in the Marshall Islands during the 1990s. Real GDP grew by 3.7 percent in 1995. Copra production increased, owing mainly to more frequent inter-island transport services by government-owned ships. Construction activity was boosted by the availability of external concessional aid financing for a high school and a garment factory, foreign direct investment on a dry dock, and a government-sponsored 150-room hotel. Value added from the transport, communications, and energy sectors rose, owing in part to an improvement in the financial performance of government-owned enterprises.
International Monetary Fund
The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards. These countries are particularly vulnerable because of their small populations, geographical isolation and dispersion, narrow export and production bases, lack of economies of scale, limited access to international capital markets, exposure to shocks (including climate change), and heavy reliance on aid. In providing public services, they face higher fixed government costs relative to other states because public services must be provided regardless of their small population size. Low access to credit by the private sector is an impediment to inclusive growth. Capacity constraints are another key challenge. The small states also face more limited policy tools. Five out of 13 countries do not have a central bank and the scope for diversifying their economies is narrow. Given their large development needs, fiscal policies have been, at times, pro-cyclical. Within the Asia-Pacific small states group, the micro states are subject to more vulnerability and macroeconomic volatility than the rest of the Asia-Pacific small states.
International Monetary Fund. Asia and Pacific Dept

2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of the Marshall Islands

International Monetary Fund. Secretary's Department

Abstract

The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.