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A Survey of Research on Retail Central Bank Digital Currency

A Survey of Research on Retail Central Bank Digital Currency »

Volume/Issue: 2020/104

Series: IMF Working Papers

Author(s): John Kiff , Jihad Alwazir , Sonja Davidovic , Aquiles Farias , Ashraf Khan , Tanai Khiaonarong , Majid Malaika , Hunter Monroe , Nobu Sugimoto , Hervé Tourpe , and Peter Zhou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

DOI: http://dx.doi.org/10.5089/9781513547787.001

ISBN: 9781513547787

Keywords: Financial regulation and supervision, Central bank governance, Central banks, Central bank independence, Central banking and monetary issues, money, central bank digital currencies, monetary policy, WP, financial integrity

This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussion...

A Survey of Research on Retail Central Bank Digital Currency

A Survey of Research on Retail Central Bank Digital Currency »

Source: A Survey of Research on Retail Central Bank Digital Currency

Volume/Issue: 2020/104

Series: IMF Working Papers

Author(s): John Kiff , Jihad Alwazir , Sonja Davidovic , Aquiles Farias , Ashraf Khan , Tanai Khiaonarong , Majid Malaika , Hunter Monroe , Nobu Sugimoto , Hervé Tourpe , and Peter Zhou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2020

ISBN: 9781513547787

Keywords: Financial regulation and supervision, Central bank governance, Central banks, Central bank independence, Central banking and monetary issues, money, central bank digital currencies, monetary policy, WP, financial integrity

This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussion...

IMF Executive Board Concludes 2018 Article IV Consultation with the Republic of the Marshall Islands

IMF Executive Board Concludes 2018 Article IV Consultation with the Republic of the Marshall Islands »

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

Volume/Issue: 2018/270

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

ISBN: 9781484375723

Keywords: Article IV consultation reports, Financial stability, Fiscal sustainability, Climatic changes, Sustainable development, Social security, Economic indicators, Press releases, Staff Reports

This 2018 Article IV Consultation highlight that growth in the Marshallese economy is estimated to have accelerated to about 3.5 percent in FY2017 (ending September 30) with a strong pick-up in fisheries and constr...

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

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

Volume/Issue: 2018/270

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

DOI: http://dx.doi.org/10.5089/9781484375723.002

ISBN: 9781484375723

Keywords: Article IV consultation reports, Financial stability, Fiscal sustainability, Climatic changes, Sustainable development, Social security, Economic indicators, Press releases, Staff Reports

This 2018 Article IV Consultation highlight that growth in the Marshallese economy is estimated to have accelerated to about 3.5 percent in FY2017 (ending September 30) with a strong pick-up in fisheries and constr...

Republic of the Marshall Islands
			: Selected Issues

Republic of the Marshall Islands : Selected Issues »

Volume/Issue: 2018/271

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

DOI: http://dx.doi.org/10.5089/9781484375785.002

ISBN: 9781484375785

Keywords: Banking, Anti-money laundering, Combating the financing of terrorism, Currencies, Monetary policy, Selected issues

This Selected Issues paper discusses correspondent banking relationships (CBRs) pressures on the Republic of the Marshall Island (RMI). RMI's two banks currently have access to the US financial system. The Bank of...

Republic of the Marshall Islands

Republic of the Marshall Islands »

Source: Republic of the Marshall Islands : Selected Issues

Volume/Issue: 2018/271

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

ISBN: 9781484375785

Keywords: Banking, Anti-money laundering, Combating the financing of terrorism, Currencies, Monetary policy, Selected issues

This Selected Issues paper discusses correspondent banking relationships (CBRs) pressures on the Republic of the Marshall Island (RMI). RMI's two banks currently have access to the US financial system. The Bank of...

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

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

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

Volume/Issue: 2018/270

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

ISBN: 9781484375723

Keywords: Article IV consultation reports, Financial stability, Fiscal sustainability, Climatic changes, Sustainable development, Social security, Economic indicators, Press releases, Staff Reports

This 2018 Article IV Consultation highlight that growth in the Marshallese economy is estimated to have accelerated to about 3.5 percent in FY2017 (ending September 30) with a strong pick-up in fisheries and constr...

Republic of the Marshall Islands: Staff Report for the 2018 Article IV Consultation—Debt Sustainability Analysis

Republic of the Marshall Islands: Staff Report for the 2018 Article IV Consultation—Debt Sustainability Analysis »

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

Volume/Issue: 2018/270

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

ISBN: 9781484375723

Keywords: Article IV consultation reports, Financial stability, Fiscal sustainability, Climatic changes, Sustainable development, Social security, Economic indicators, Press releases, Staff Reports

This 2018 Article IV Consultation highlight that growth in the Marshallese economy is estimated to have accelerated to about 3.5 percent in FY2017 (ending September 30) with a strong pick-up in fisheries and constr...

Republic of the Marshall Islands: Staff Report for the 2018 Article IV Consultation—Informational Annex

Republic of the Marshall Islands: Staff Report for the 2018 Article IV Consultation—Informational Annex »

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

Volume/Issue: 2018/270

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

ISBN: 9781484375723

Keywords: Article IV consultation reports, Financial stability, Fiscal sustainability, Climatic changes, Sustainable development, Social security, Economic indicators, Press releases, Staff Reports

This 2018 Article IV Consultation highlight that growth in the Marshallese economy is estimated to have accelerated to about 3.5 percent in FY2017 (ending September 30) with a strong pick-up in fisheries and constr...

Statement by Grant Johnston, Alternate Executive Director for Republic of the Marshall Islands and Gwibeom Kim, Advisor to the Executive Director September 5, 2018

Statement by Grant Johnston, Alternate Executive Director for Republic of the Marshall Islands and Gwibeom Kim, Advisor to the Executive Director September 5, 2018 »

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

Volume/Issue: 2018/270

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

ISBN: 9781484375723

Keywords: Article IV consultation reports, Financial stability, Fiscal sustainability, Climatic changes, Sustainable development, Social security, Economic indicators, Press releases, Staff Reports

This 2018 Article IV Consultation highlight that growth in the Marshallese economy is estimated to have accelerated to about 3.5 percent in FY2017 (ending September 30) with a strong pick-up in fisheries and constr...

Statement by the Staff Representative on Republic of the Marshall Islands September 5, 2018

Statement by the Staff Representative on Republic of the Marshall Islands September 5, 2018 »

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

Volume/Issue: 2018/270

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 2018

ISBN: 9781484375723

Keywords: Article IV consultation reports, Financial stability, Fiscal sustainability, Climatic changes, Sustainable development, Social security, Economic indicators, Press releases, Staff Reports

This 2018 Article IV Consultation highlight that growth in the Marshallese economy is estimated to have accelerated to about 3.5 percent in FY2017 (ending September 30) with a strong pick-up in fisheries and constr...

Definitions

Definitions »

Source: Regional Economic Outlook, April 2018, Asia Pacific : Good Times, Uncertain Times: A Time to Prepare

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2018

ISBN: 9781484339886

In this Regional Economic Outlook: Asia and Pacific, the following groupings are employed: “ASEAN” refers to Brunei Darussalam, Cambodia, Indonesia, Lao P.D.R., Malaysia, Myanmar, the Philippines, S...

Executive Summary

Executive Summary »

Source: Regional Economic Outlook, April 2018, Asia Pacific : Good Times, Uncertain Times: A Time to Prepare

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2018

ISBN: 9781484339886

The economic outlook for Asia and the Pacific remains strong, and the region continues to be the most dynamic of the global economy. Near-term prospects have improved since the Regional Economic Outlook Upda...

1. Good Times, Uncertain Times: A Time to Prepare

1. Good Times, Uncertain Times: A Time to Prepare »

Source: Regional Economic Outlook, April 2018, Asia Pacific : Good Times, Uncertain Times: A Time to Prepare

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2018

ISBN: 9781484339886

The world economy continues to perform well, with strong growth and trade, rising but still muted inflation, and accommodative financial conditions, notwithstanding some increased financial mark...

2. Low Inflation in Asia: How Long Will It Last?

2. Low Inflation in Asia: How Long Will It Last? »

Source: Regional Economic Outlook, April 2018, Asia Pacific : Good Times, Uncertain Times: A Time to Prepare

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2018

ISBN: 9781484339886

Introduction and Main Findings Global growth in 2017 was the highest since 2011 and is expected to strengthen further in 2018–19, supported by broad-based momentum across countries a...

Regional Economic Outlook, April 2018, Asia Pacific
			: Good Times, Uncertain Times: A Time to Prepare

Regional Economic Outlook, April 2018, Asia Pacific : Good Times, Uncertain Times: A Time to Prepare »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2018

DOI: http://dx.doi.org/10.5089/9781484339886.086

ISBN: 9781484339886

Asia is expected to grow by about 51/2 percent this year, accounting for nearly two-thirds of global growth, and the region remains the world's most dynamic by a considerable margin. But despite the strong outlook,...

Front Matter

Front Matter »

Source: Regional Economic Outlook, April 2018, Asia Pacific : Good Times, Uncertain Times: A Time to Prepare

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2018

ISBN: 9781484339886

Asia is expected to grow by about 51/2 percent this year, accounting for nearly two-thirds of global growth, and the region remains the world's most dynamic by a considerable margin. But despite the strong outlook,...

Challenges in Correspondent Banking in the Small States of the Pacific

Challenges in Correspondent Banking in the Small States of the Pacific »

Source: Challenges in Correspondent Banking in the Small States of the Pacific

Volume/Issue: 2017/90

Series: IMF Working Papers

Author(s): Jihad Alwazir , Fazurin Jamaludin , Dongyeol Lee , Niamh Sheridan , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 2017

ISBN: 9781475593471

Keywords: Marshall Islands, Fiji, Asia and Pacific, Pacific Islands, Palau, Papua New Guinea, Samoa, Small states, Solomon Islands, Tax evasion

Access to financial services in the small states of the Pacific is being eroded. Weaknesses in Anti-Money Laundering and Combating the Financing of Terrorism compliance in the context of high levels of remittances...

Challenges in Correspondent Banking in the Small States of the Pacific

Challenges in Correspondent Banking in the Small States of the Pacific »

Volume/Issue: 2017/90

Series: IMF Working Papers

Author(s): Jihad Alwazir , Fazurin Jamaludin , Dongyeol Lee , Niamh Sheridan , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 2017

DOI: http://dx.doi.org/10.5089/9781475593471.001

ISBN: 9781475593471

Keywords: Marshall Islands, Fiji, Asia and Pacific, Pacific Islands, Palau, Papua New Guinea, Samoa, Small states, Solomon Islands, Tax evasion

Access to financial services in the small states of the Pacific is being eroded. Weaknesses in Anti-Money Laundering and Combating the Financing of Terrorism compliance in the context of high levels of remittances...

Appendix 1. Fiji

Appendix 1. Fiji »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Fiji, located in the South Pacific, has a territory of 18,274 square kilometers spread over 332 islands, of which about one-third are inhabited. Most of Fiji’s p...

Appendix 2. Kiribati

Appendix 2. Kiribati »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Kiribati’s 33 atoll islands are spread among three groups: the Gilbert Islands, the Phoenix Islands, and the Line Islands. Most of the population lives in the Gi...

Appendix 3. Marshall Islands

Appendix 3. Marshall Islands »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The 29 atolls and five isolated islands of Marshall Islands are spread over 1.9 million square kilometers in the north Pacific. As a small island country with a...

Appendix 4. Micronesia

Appendix 4. Micronesia »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Micronesia’s land area covers 700 square kilometers, dispersed over more than 600 islands. The country—with a population of about 100,000—is a microstate highly...

Appendix 5. Palau

Appendix 5. Palau »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Palau, an archipelago of more than 560 islands occupying 460 square kilometers, is centered on the island of Koror. Based on 2012 census data, Palau’s population...

Appendix 6. Papua New Guinea

Appendix 6. Papua New Guinea »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Papua New Guinea is the largest of the Pacific island countries, with a population of about 7.5 million and a land area of 462,800 square kilometers (about the s...

Appendix 7. Samoa

Appendix 7. Samoa »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Samoa’s 193,000 people live on four islands in the South Pacific about halfway between Hawaii and New Zealand and northeast of Fiji. The capital, Apia, is in Upo...

Appendix 8. The Solomon Islands

Appendix 8. The Solomon Islands »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The Solomon Islands has the second largest land area among Pacific island countries after Papua New Guinea. Some 80 percent of the population of 615,000 lives in...

Appendix 9. Timor-Leste

Appendix 9. Timor-Leste »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Timor-Leste, the eastern half of the island of Timor, has a land area of about 15,000 square kilometers. Its territory also includes the nearby islands of Atauro...

Appendix 10. Tonga

Appendix 10. Tonga »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Tonga is a Polynesian state and an archipelago comprising 176 islands with a surface area of about 750 square kilometers scattered over 700,000 square kilometers...

Appendix 11. Tuvalu

Appendix 11. Tuvalu »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Tuvalu, a Polynesian island nation in the Pacific, has nine small coral islands with total land area of just 26 square kilometers. It has a population of about 1...

Appendix 12. Vanuatu

Appendix 12. Vanuatu »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Vanuatu’s 82 islands, 65 of them inhabited, cover a distance of some 1,300 kilometers separating the outermost islands. About a quarter of Vanuatu’s estimated po...

Chapter 3. Building Resilience in the Pacific Island Countries

Chapter 3. Building Resilience in the Pacific Island Countries »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Many studies on small island states focus on their economic vulnerability and conclude that, as a group, these countries are highly exposed to the harmful effects of external shocks. 1...

Chapter 17. Determinants of Interest Rate Spreads in the Solomon Islands

Chapter 17. Determinants of Interest Rate Spreads in the Solomon Islands »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Deposit-lending rate spreads are large in the Solomon Islands compared with the rest of the Pacific island countries, despite their recent decline. Several studies have looked at the causes and implications...

Chapter 8. Drivers of Inflation in the Pacific Island Countries

Chapter 8. Drivers of Inflation in the Pacific Island Countries »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The Pacific island countries (PICs) are highly exposed to commodity price shocks and exchange rate volatility. This is the result of the structure of these economies: narrow production and export bases and,...

Chapter 1. Economic Growth in the Pacific Island Countries—Challenges, Constraints, and Policy Responses

Chapter 1. Economic Growth in the Pacific Island Countries—Challenges, Constraints, and Policy Responses »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Economic growth among the Pacific island countries (PICs) has lagged most peer groups for more than a decade. This chapter provides an overview of the policy issues and challenges faced by these countries, a...

Chapter 11. Estimating Fiscal Multipliers Using a Simplified General Equilibrium Model of Small States, with Application to Kiribati and Palau

Chapter 11. Estimating Fiscal Multipliers Using a Simplified General Equilibrium Model of Small States, with Application to Kiribati and Palau »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The aim of this chapter is to help policymakers and economists better comprehend the link between fiscal policies and growth and to use this understanding operationally to design better macroeconomic policie...

Chapter 6. Global and Regional Spillovers to Pacific Island Countries

Chapter 6. Global and Regional Spillovers to Pacific Island Countries »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The Pacific island countries (PICs) have been integrating economically with Australia, New Zealand, and Asia’s emerging market economies over the last two decades, creating big economic opportunities for the...

Chapter 13. Global Commodity Prices, Monetary Transmission, and Exchange Rate Pass-Through

Chapter 13. Global Commodity Prices, Monetary Transmission, and Exchange Rate Pass-Through »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Pacific island countries (PICs) are vulnerable to commodity price shocks and this poses challenges for monetary policy. The spike in global commodity prices in 2007–08 led to a rise in headline inflation, wh...

Chapter 18. Interest Rates, Bank Profitability, and Capital Adequacy in the South Pacific

Chapter 18. Interest Rates, Bank Profitability, and Capital Adequacy in the South Pacific »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The structure of the banking sector in the South Pacific remained relatively stable over the last decade. The banking sector in most countries in the region is limited to about three to five commercial banks...

Chapter 7. Major Economic Shocks and Pacific Island Countries during the Global Economic Crisis

Chapter 7. Major Economic Shocks and Pacific Island Countries during the Global Economic Crisis »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Small island states are vulnerable to external shocks and generally experience greater instability in exports and agricultural production than other developing economies. 1 Pacifi...

Chapter 12. Monetary Policy Transmission Mechanisms in Pacific Island Countries

Chapter 12. Monetary Policy Transmission Mechanisms in Pacific Island Countries »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The global financial crisis tested the effectiveness of monetary policy transmission mechanisms in Pacific island countries (PICs). 1 At the onset of the crisis, monetary policy r...

Chapter 16. Pacific Island Countries: Trade Integration in a Changing Global Economy

Chapter 16. Pacific Island Countries: Trade Integration in a Changing Global Economy »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Trade integration is widely considered to be essential for economic development and prosperity in Pacific island countries (PICs). 1 This thinking is not without theoretical or em...

Chapter 15. Planning Public Financial Management Reforms in Pacific Island Countries

Chapter 15. Planning Public Financial Management Reforms in Pacific Island Countries »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Weaknesses in public financial management (PFM) compound economic vulnerabilities in many Pacific island countries (PICs). These countries face challenges in small domestic markets, high transport costs, and...

Chapter 2. Raising Potential Growth and Enhancing Resilience to Shocks

Chapter 2. Raising Potential Growth and Enhancing Resilience to Shocks »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards. Small populations, geographical isolation and dispersion, narrow export and prod...

Chapter 10. Strengthening Fiscal Frameworks and Improving the Spending Mix in Small States

Chapter 10. Strengthening Fiscal Frameworks and Improving the Spending Mix in Small States »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The unique characteristics of small developing states make fiscal management more challenging than elsewhere. 1 Most important, the indivisibility of the provision of public goods...

Chapter 5. Strengthening Macro-Fiscal Resilience to Natural Disasters and Climate Change in the Small States of the Pacific

Chapter 5. Strengthening Macro-Fiscal Resilience to Natural Disasters and Climate Change in the Small States of the Pacific »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

The Pacific island countries (PICs) are among the most susceptible to natural disasters in the world. The combination of location and small size heightens their vulnerability to earthquakes and weather-relat...

Chapter 4. The Pacific Speed of Growth: How Fast Can It Be and What Determines It?

Chapter 4. The Pacific Speed of Growth: How Fast Can It Be and What Determines It? »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Economic recovery in most Pacific island countries (PICs) following the global financial crisis was mixed. 1 Although the region’s two resource-rich countries, Papua New Guinea an...

Chapter 14. The Role of Excess Liquidity and Interest Rate Pass-Through for the Monetary Transmission Mechanism in the Pacific

Chapter 14. The Role of Excess Liquidity and Interest Rate Pass-Through for the Monetary Transmission Mechanism in the Pacific »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Monetary transmission in the Pacific is complicated by the absence of a number of channels that are available to central banks in advanced economies. This leaves monetary policy dependent on interest rate pa...

Chapter 9. Vulnerabilities of Isolated Small Island States in the Pacific

Chapter 9. Vulnerabilities of Isolated Small Island States in the Pacific »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

This chapter considers features of small island states in the Pacific region as well as in Asia, and documents some of the key characteristics that set them apart from small states in other regions. The chap...

Part I: Setting the Stage: The Quest for Resilience and Growth in the Pacific Islands

Part I: Setting the Stage: The Quest for Resilience and Growth in the Pacific Islands »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

...

Part II: Managing External Spillovers, Shocks, and Vulnerabilities

Part II: Managing External Spillovers, Shocks, and Vulnerabilities »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

...

Part III: Tailoring Macroeconomic Policies to the Small States of the Pacific

Part III: Tailoring Macroeconomic Policies to the Small States of the Pacific »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

...

Part IV: Removing Structural Impediments to Growth

Part IV: Removing Structural Impediments to Growth »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

...

Resilience and Growth in the Small States of the Pacific

Resilience and Growth in the Small States of the Pacific »

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

DOI: http://dx.doi.org/10.5089/9781513507521.071

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Pacific island countries face unique challenges to realizing their growth potential and raising living standards. This book discusses ongoing challenges facing Pacific island countries and policy options to address...

Back Matter

Back Matter »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Pacific island countries face unique challenges to realizing their growth potential and raising living standards. This book discusses ongoing challenges facing Pacific island countries and policy options to address...

Front Matter

Front Matter »

Source: Resilience and Growth in the Small States of the Pacific

Series: Books

Author(s): Hoe Khor , Roger Kronenberg , and Patrizia Tumbarello

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2016

ISBN: 9781513507521

Keywords: Pacific islands, small states, natural disasters, climate change, foreign aid, resilience, dispersion, distance, remoteness, fisheries

Pacific island countries face unique challenges to realizing their growth potential and raising living standards. This book discusses ongoing challenges facing Pacific island countries and policy options to address...

IMF Executive Board Concludes 2016 Article IV Consultation with the Republic of the Marshall Islands

IMF Executive Board Concludes 2016 Article IV Consultation with the Republic of the Marshall Islands »

Source: Republic of the Marshall Islands : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands

Volume/Issue: 2016/260

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2016

ISBN: 9781475520521

This 2016 Article IV Consultation highlights that the economy of the Marshall Islands is estimated to have expanded by about 0.5 percent in FY2015 (ending September 30), as the fishery sector recovered. Following a...

Republic of the Marshall Islands
			: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands

Republic of the Marshall Islands : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands »

Volume/Issue: 2016/260

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2016

DOI: http://dx.doi.org/10.5089/9781475520521.002

ISBN: 9781475520521

This 2016 Article IV Consultation highlights that the economy of the Marshall Islands is estimated to have expanded by about 0.5 percent in FY2015 (ending September 30), as the fishery sector recovered. Following a...

Republic of the Marshall Islands: Staff Report for the 2016 Article IV Consultation

Republic of the Marshall Islands: Staff Report for the 2016 Article IV Consultation »

Source: Republic of the Marshall Islands : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands

Volume/Issue: 2016/260

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2016

ISBN: 9781475520521

This 2016 Article IV Consultation highlights that the economy of the Marshall Islands is estimated to have expanded by about 0.5 percent in FY2015 (ending September 30), as the fishery sector recovered. Following a...

Republic of the Marshall Islands: Staff Report for the 2016 Article IV Consultation—Debt Sustainability Analysis

Republic of the Marshall Islands: Staff Report for the 2016 Article IV Consultation—Debt Sustainability Analysis »

Source: Republic of the Marshall Islands : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands

Volume/Issue: 2016/260

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2016

ISBN: 9781475520521

This 2016 Article IV Consultation highlights that the economy of the Marshall Islands is estimated to have expanded by about 0.5 percent in FY2015 (ending September 30), as the fishery sector recovered. Following a...

Republic of the Marshall Islands: Staff Report for the 2016 Article IV Consultation—Informational Annex

Republic of the Marshall Islands: Staff Report for the 2016 Article IV Consultation—Informational Annex »

Source: Republic of the Marshall Islands : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands

Volume/Issue: 2016/260

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2016

ISBN: 9781475520521

This 2016 Article IV Consultation highlights that the economy of the Marshall Islands is estimated to have expanded by about 0.5 percent in FY2015 (ending September 30), as the fishery sector recovered. Following a...

Statement by Grant Johnston, Second Alternate Executive Director for Republic of the Marshall Islands and Nancy Jane Lelang, Advisor, July 25, 2016

Statement by Grant Johnston, Second Alternate Executive Director for Republic of the Marshall Islands and Nancy Jane Lelang, Advisor, July 25, 2016 »

Source: Republic of the Marshall Islands : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands

Volume/Issue: 2016/260

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2016

ISBN: 9781475520521

This 2016 Article IV Consultation highlights that the economy of the Marshall Islands is estimated to have expanded by about 0.5 percent in FY2015 (ending September 30), as the fishery sector recovered. Following a...

Small States Resilience to Natural Disasters and Climate Change - Role for the IMF

Small States Resilience to Natural Disasters and Climate Change - Role for the IMF »

Volume/Issue: 2016/038

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

DOI: http://dx.doi.org/10.5089/9781498345095.007

ISBN: 9781498345095

Keywords: Climatic changes, Debt sustainability, Developing countries, Emergency assistance, External shocks, Financial sector, Fiscal policy, Fund role, Monetary policy, Small states

Small developing states are disproportionately vulnerable to natural disasters. On average, the annual cost of disasters for small states is nearly 2 percent of GDP-more than four times that for larger countries. T...

Small States Resilience to Natural Disasters and Climate Change - Role for the IMF

Small States Resilience to Natural Disasters and Climate Change - Role for the IMF »

Source: Small States Resilience to Natural Disasters and Climate Change - Role for the IMF

Volume/Issue: 2016/038

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

ISBN: 9781498345095

Keywords: Climatic changes, Debt sustainability, Developing countries, Emergency assistance, External shocks, Financial sector, Fiscal policy, Fund role, Monetary policy, Small states

Small developing states are disproportionately vulnerable to natural disasters. On average, the annual cost of disasters for small states is nearly 2 percent of GDP-more than four times that for larger countries. T...

Sixth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations

Sixth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations »

Volume/Issue: 2014/036

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2014

DOI: http://dx.doi.org/10.5089/9781498343145.007

ISBN: 9781498343145

Keywords: Conditionality, Debt sustainability, Exchange rate policy, Executive Board decisions, Fund role, Lapse of time approval, Low-income developing countries, Members, Periodic Monitoring Reports, Relationships with Fund

IMF staff and completed on June 30, 2014 for the Executive Board's consideration on August 7, 2014....

Sixth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations

Sixth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations »

Source: Sixth Periodic Monitoring Report on the Status of Implementation Plans in Response to Board-Endorsed IEO Recommendations

Volume/Issue: 2014/036

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2014

ISBN: 9781498343145

Keywords: Conditionality, Debt sustainability, Exchange rate policy, Executive Board decisions, Fund role, Lapse of time approval, Low-income developing countries, Members, Periodic Monitoring Reports, Relationships with Fund

IMF staff and completed on June 30, 2014 for the Executive Board's consideration on August 7, 2014....

Asia and Pacific
			: Small States Monitor, April 2014:  Volume 1, Issue 1

Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1 »

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

DOI: http://dx.doi.org/10.5089/9781475579611.029

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

The work on the small states is an important component of the IMF's global policy agenda. Among the 36 member countries covered by the IMF Asia and Pacific Department (APD), 13 countries are developing small states...

Front Matter

Front Matter »

Source: Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

The work on the small states is an important component of the IMF's global policy agenda. Among the 36 member countries covered by the IMF Asia and Pacific Department (APD), 13 countries are developing small states...

Asia-Pacific Small States: Developments and Outlook

Asia-Pacific Small States: Developments and Outlook »

Source: Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

Growth and Inflation Average growth in the small states in the Asia and Pacific region remained weak (1 percent) in 2013 and underperformed that in other small states—2 percent. Howe...

Country Notes

Country Notes »

Source: Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

Marshall Islands Context: The Republic of the Marshall Islands (RMI) is going through a period of output fluctuations. The economy expanded in FY2012 by 3.2 percent,...

Media and Other News

Media and Other News »

Source: Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

DMD Zhu’s Interview on the Pacific Island Countries in Business Melanesia Supporting growth and reforms How involved is...

Special Topic—Leveraging Marine Fishery Resources: Implications for Fiscal Policy1

Special Topic—Leveraging Marine Fishery Resources: Implications for Fiscal Policy1 »

Source: Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

Fishing license fees are a major source of revenue in several Pacific island countries (Kiribati, the Marshall Islands, Micronesia, and Tuvalu). In 2013 the fee earnings ranged from...

IMF Executive Board Concludes 2013 Article IV Consultation with the Republic of the Marshall Islands

IMF Executive Board Concludes 2013 Article IV Consultation with the Republic of the Marshall Islands »

Source: Republic of the Marshall Islands : Staff Report for the 2013 Article IV Consultation

Volume/Issue: 2014/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 February 2014

ISBN: 9781616355265

Keywords: Bank supervision, Article IV consultation reports, Staff Reports, Public enterprises, Press releases, Private sector, Marshall Islands, Fiscal policy, Fiscal sustainability, current account

This Informational Annex highlights the Marshall Islands' existing tax system's inability to raise additional revenue, discouragement of private investment, and inequitability. Careful consideration needs to be giv...

Republic of the Marshall Islands
			: Staff Report for the 2013 Article IV Consultation

Republic of the Marshall Islands : Staff Report for the 2013 Article IV Consultation »

Volume/Issue: 2014/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 February 2014

DOI: http://dx.doi.org/10.5089/9781616355265.002

ISBN: 9781616355265

Keywords: Bank supervision, Article IV consultation reports, Staff Reports, Public enterprises, Press releases, Private sector, Marshall Islands, Fiscal policy, Fiscal sustainability, current account

This Informational Annex highlights the Marshall Islands' existing tax system's inability to raise additional revenue, discouragement of private investment, and inequitability. Careful consideration needs to be giv...

Republic of the Marshall Islands: Staff Report for the 2013 Article IV Consultation

Republic of the Marshall Islands: Staff Report for the 2013 Article IV Consultation »

Source: Republic of the Marshall Islands : Staff Report for the 2013 Article IV Consultation

Volume/Issue: 2014/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 February 2014

ISBN: 9781616355265

Keywords: Bank supervision, Article IV consultation reports, Staff Reports, Public enterprises, Press releases, Private sector, Marshall Islands, Fiscal policy, Fiscal sustainability, current account

This Informational Annex highlights the Marshall Islands' existing tax system's inability to raise additional revenue, discouragement of private investment, and inequitability. Careful consideration needs to be giv...

Republic of the Marshall Islands: Staff Report for the 2013 Article IV Consultation—Debt Sustainability Analysis

Republic of the Marshall Islands: Staff Report for the 2013 Article IV Consultation—Debt Sustainability Analysis »

Source: Republic of the Marshall Islands : Staff Report for the 2013 Article IV Consultation

Volume/Issue: 2014/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 February 2014

ISBN: 9781616355265

Keywords: Bank supervision, Article IV consultation reports, Staff Reports, Public enterprises, Press releases, Private sector, Marshall Islands, Fiscal policy, Fiscal sustainability, current account

This Informational Annex highlights the Marshall Islands' existing tax system's inability to raise additional revenue, discouragement of private investment, and inequitability. Careful consideration needs to be giv...

Republic of the Marshall Islands: Staff Report for the 2013 Article IV Consultation—Informational Annex

Republic of the Marshall Islands: Staff Report for the 2013 Article IV Consultation—Informational Annex »

Source: Republic of the Marshall Islands : Staff Report for the 2013 Article IV Consultation

Volume/Issue: 2014/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 February 2014

ISBN: 9781616355265

Keywords: Bank supervision, Article IV consultation reports, Staff Reports, Public enterprises, Press releases, Private sector, Marshall Islands, Fiscal policy, Fiscal sustainability, current account

This Informational Annex highlights the Marshall Islands' existing tax system's inability to raise additional revenue, discouragement of private investment, and inequitability. Careful consideration needs to be giv...

Statement by Jong-Won Yoon, Executive Director, and Kyounghwan Moon, Advisor to the Executive Director of the Republic of the Marshall Islands, January 8, 2014

Statement by Jong-Won Yoon, Executive Director, and Kyounghwan Moon, Advisor to the Executive Director of the Republic of the Marshall Islands, January 8, 2014 »

Source: Republic of the Marshall Islands : Staff Report for the 2013 Article IV Consultation

Volume/Issue: 2014/26

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 February 2014

ISBN: 9781616355265

Keywords: Bank supervision, Article IV consultation reports, Staff Reports, Public enterprises, Press releases, Private sector, Marshall Islands, Fiscal policy, Fiscal sustainability, current account

This Informational Annex highlights the Marshall Islands' existing tax system's inability to raise additional revenue, discouragement of private investment, and inequitability. Careful consideration needs to be giv...

Are the Asia and Pacific Small States Different from Other Small States?

Are the Asia and Pacific Small States Different from Other Small States? »

Source: Are the Asia and Pacific Small States Different from Other Small States?

Volume/Issue: 2013/123

Series: IMF Working Papers

Author(s): Patrizia Tumbarello , Ezequiel Cabezon , and Yiqun Wu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2013

ISBN: 9781484339190

Keywords: micro states, Pacific islands, growth, volatility, terms of trade, trade openness, current account balance, external shocks, trade deficits, Open Economy Macroeconomics

The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards relative to other small states due to their small populations, geographical isolation an...

Are the Asia and Pacific Small States Different from Other Small States?

Are the Asia and Pacific Small States Different from Other Small States? »

Volume/Issue: 2013/123

Series: IMF Working Papers

Author(s): Patrizia Tumbarello , Ezequiel Cabezon , and Yiqun Wu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2013

DOI: http://dx.doi.org/10.5089/9781484339190.001

ISBN: 9781484339190

Keywords: micro states, Pacific islands, growth, volatility, terms of trade, trade openness, current account balance, external shocks, trade deficits, Open Economy Macroeconomics

The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards relative to other small states due to their small populations, geographical isolation an...

Review of Facilities for Low-Income Countries - Proposals for Implementation

Review of Facilities for Low-Income Countries - Proposals for Implementation »

Volume/Issue: 2013/021

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2013

DOI: http://dx.doi.org/10.5089/9781498342131.007

ISBN: 9781498342131

Keywords: Access policy, Access to Fund general resources, Extended Credit Facility, Fund facilities, Low-income developing countries, Policy Support Instrument, Poverty Reduction and Growth Trust, Balance of payments, Access to capital markets, Economic policy

Based on the Executive Board's guidance during the first stage of the Review of Low Income Countries (LIC) Facilities, this paper suggests a number of refinements to the facilities and instruments that are consiste...

Review of Facilities for Low-Income Countries - Proposals for Implementation

Review of Facilities for Low-Income Countries - Proposals for Implementation »

Source: Review of Facilities for Low-Income Countries - Proposals for Implementation

Volume/Issue: 2013/021

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2013

ISBN: 9781498342131

Keywords: Access policy, Access to Fund general resources, Extended Credit Facility, Fund facilities, Low-income developing countries, Policy Support Instrument, Poverty Reduction and Growth Trust, Balance of payments, Access to capital markets, Economic policy

Based on the Executive Board's guidance during the first stage of the Review of Low Income Countries (LIC) Facilities, this paper suggests a number of refinements to the facilities and instruments that are consiste...

Asia and Pacific Small States - Raising Potential Growth and Enhancing Resilience to Shocks

Asia and Pacific Small States - Raising Potential Growth and Enhancing Resilience to Shocks »

Source: Asia and Pacific Small States - Raising Potential Growth and Enhancing Resilience to Shocks

Volume/Issue: 2013/009

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 February 2013

ISBN: 9781498342285

Keywords: Asia and Pacific, Cross country analysis, Economic growth, Economic indicators, External shocks, Fiscal policy, Monetary policy, Relationships with Fund, Small states, Surveillance

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, geograp...

Asia and Pacific Small States - Raising Potential Growth and Enhancing Resilience to Shocks

Asia and Pacific Small States - Raising Potential Growth and Enhancing Resilience to Shocks »

Volume/Issue: 2013/009

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 February 2013

DOI: http://dx.doi.org/10.5089/9781498342285.007

ISBN: 9781498342285

Keywords: Asia and Pacific, Cross country analysis, Economic growth, Economic indicators, External shocks, Fiscal policy, Monetary policy, Relationships with Fund, Small states, Surveillance

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, geograp...

Republic of the Marshall Islands; Staff Report for the 2011 Article IV Consultation

Republic of the Marshall Islands; Staff Report for the 2011 Article IV Consultation »

Volume/Issue: 2011/339

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2011

DOI: http://dx.doi.org/10.5089/9781463929244.002

ISBN: 9781463929244

Keywords: external debt, debt, loans, fiscal surplus, fiscal adjustment

The economy of the Republic of the Marshall Islands has experienced a strong recovery with a 5.2 percent growth in 2010 following strong improvement in the fisheries sector and a moderate recovery in exports. The f...

Republic of the Marshall Islands
			: Statistical Appendix

Republic of the Marshall Islands : Statistical Appendix »

Volume/Issue: 2011/337

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2011

DOI: http://dx.doi.org/10.5089/9781463925970.002

ISBN: 9781463925970

Keywords: external debt, debt service, wage, salaries, wages

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 discuss...

Republic of the Marshall Islands

Republic of the Marshall Islands »

Source: Republic of the Marshall Islands : Statistical Appendix

Volume/Issue: 2011/337

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2011

ISBN: 9781463925970

Keywords: external debt, debt service, wage, salaries, wages

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 discuss...

Republic of the Marshall Islands; Staff Report for the 2011 Article IV Consultation

Republic of the Marshall Islands; Staff Report for the 2011 Article IV Consultation »

Source: Republic of the Marshall Islands; Staff Report for the 2011 Article IV Consultation

Volume/Issue: 2011/339

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2011

ISBN: 9781463929244

Keywords: external debt, debt, loans, fiscal surplus, fiscal adjustment

The economy of the Republic of the Marshall Islands has experienced a strong recovery with a 5.2 percent growth in 2010 following strong improvement in the fisheries sector and a moderate recovery in exports. The f...

Republic of the Marshall Islands: Staff Report for the 2011 Article IV Consultation Informational Annex

Republic of the Marshall Islands: Staff Report for the 2011 Article IV Consultation Informational Annex »

Source: Republic of the Marshall Islands; Staff Report for the 2011 Article IV Consultation

Volume/Issue: 2011/339

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2011

ISBN: 9781463929244

Keywords: external debt, debt, loans, fiscal surplus, fiscal adjustment

The economy of the Republic of the Marshall Islands has experienced a strong recovery with a 5.2 percent growth in 2010 following strong improvement in the fisheries sector and a moderate recovery in exports. The f...

Statement by Christopher Legg, Executive Director for the Republic of the Marshall Islands, and Messrs. Craig Fookes and Mack Kaminaga, Advisors to the Executive Director

Statement by Christopher Legg, Executive Director for the Republic of the Marshall Islands, and Messrs. Craig Fookes and Mack Kaminaga, Advisors to the Executive Director »

Source: Republic of the Marshall Islands; Staff Report for the 2011 Article IV Consultation

Volume/Issue: 2011/339

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2011

ISBN: 9781463929244

Keywords: external debt, debt, loans, fiscal surplus, fiscal adjustment

The economy of the Republic of the Marshall Islands has experienced a strong recovery with a 5.2 percent growth in 2010 following strong improvement in the fisheries sector and a moderate recovery in exports. The f...

IMF Executive Board Concludes 2009 Article IV Consultation with the Republic of the Marshall Islands

IMF Executive Board Concludes 2009 Article IV Consultation with the Republic of the Marshall Islands »

Source: Republic of the Marshall Islands : 2009 Article IV Consultation: Staff Report; a Public Information Notice; and a Statement by the Executive Director of the Republic of Marshall islands on the Executive Board Discussion.

Volume/Issue: 2010/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 February 2010

ISBN: 9781451825954

Keywords: debt, article, fiscal surplus, budget

This 2009 Article IV Consultation highlights that the economy of the Marshall Islands is on a path to recovery. A gradual expansion with growth reaching 0.5 percent in 2010 is supported by further growth in the fis...

Republic of the Marshall Islands
			: 2009 Article IV Consultation:  Staff Report; a Public Information Notice; and a Statement by the Executive Director of the Republic of Marshall islands on the Executive Board Discussion.

Republic of the Marshall Islands : 2009 Article IV Consultation: Staff Report; a Public Information Notice; and a Statement by the Executive Director of the Republic of Marshall islands on the Executive Board Discussion. »

Volume/Issue: 2010/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 February 2010

DOI: http://dx.doi.org/10.5089/9781451825954.002

ISBN: 9781451825954

Keywords: debt, article, fiscal surplus, budget

This 2009 Article IV Consultation highlights that the economy of the Marshall Islands is on a path to recovery. A gradual expansion with growth reaching 0.5 percent in 2010 is supported by further growth in the fis...

Republic of the Marshall Islands

Republic of the Marshall Islands »

Source: Republic of the Marshall Islands : 2009 Article IV Consultation: Staff Report; a Public Information Notice; and a Statement by the Executive Director of the Republic of Marshall islands on the Executive Board Discussion.

Volume/Issue: 2010/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 February 2010

ISBN: 9781451825954

Keywords: debt, article, fiscal surplus, budget

This 2009 Article IV Consultation highlights that the economy of the Marshall Islands is on a path to recovery. A gradual expansion with growth reaching 0.5 percent in 2010 is supported by further growth in the fis...

Republic of the Marshall Islands: Staff Report for the 2009 Article IV Consultation—Informational Annex

Republic of the Marshall Islands: Staff Report for the 2009 Article IV Consultation—Informational Annex »

Source: Republic of the Marshall Islands : 2009 Article IV Consultation: Staff Report; a Public Information Notice; and a Statement by the Executive Director of the Republic of Marshall islands on the Executive Board Discussion.

Volume/Issue: 2010/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 February 2010

ISBN: 9781451825954

Keywords: debt, article, fiscal surplus, budget

This 2009 Article IV Consultation highlights that the economy of the Marshall Islands is on a path to recovery. A gradual expansion with growth reaching 0.5 percent in 2010 is supported by further growth in the fis...

Statement by Hi-Su Lee, Executive Director and Ji-Sung Moon, Advisor to the Executive Director February 1, 2010

Statement by Hi-Su Lee, Executive Director and Ji-Sung Moon, Advisor to the Executive Director February 1, 2010 »

Source: Republic of the Marshall Islands : 2009 Article IV Consultation: Staff Report; a Public Information Notice; and a Statement by the Executive Director of the Republic of Marshall islands on the Executive Board Discussion.

Volume/Issue: 2010/51

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 February 2010

ISBN: 9781451825954

Keywords: debt, article, fiscal surplus, budget

This 2009 Article IV Consultation highlights that the economy of the Marshall Islands is on a path to recovery. A gradual expansion with growth reaching 0.5 percent in 2010 is supported by further growth in the fis...

Review of the IMF's Strategy on Overdue Financial Obligations

Review of the IMF's Strategy on Overdue Financial Obligations »

Volume/Issue: 2009/056

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2009

DOI: http://dx.doi.org/10.5089/9781498335676.007

ISBN: 9781498335676

Keywords: Allocation of SDRs, Cooperation with Fund, Executive Board decisions, Lapse of time approval, Overdue obligations, Rights accumulation program, SDR interest rates, Foreign exchange reserves, External debt, SDR charges

This paper reviews progress under the IMF's strengthened cooperative strategy on overdue financial obligations. Total arrears to the Fund declined by SDR 11 million, to SDR 1,327 million, since the last review. Whi...

Review of the IMF's Strategy on Overdue Financial Obligations

Review of the IMF's Strategy on Overdue Financial Obligations »

Source: Review of the IMF's Strategy on Overdue Financial Obligations

Volume/Issue: 2009/056

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2009

ISBN: 9781498335676

Keywords: Allocation of SDRs, Cooperation with Fund, Executive Board decisions, Lapse of time approval, Overdue obligations, Rights accumulation program, SDR interest rates, Foreign exchange reserves, External debt, SDR charges

This paper reviews progress under the IMF's strengthened cooperative strategy on overdue financial obligations. Total arrears to the Fund declined by SDR 11 million, to SDR 1,327 million, since the last review. Whi...

Republic of the Marshall Islands
			: Selected Issues and Statistical Appendix

Republic of the Marshall Islands : Selected Issues and Statistical Appendix »

Volume/Issue: 2008/186

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2008

DOI: http://dx.doi.org/10.5089/9781451825947.002

ISBN: 9781451825947

Keywords: budget, fiscal surplus, fiscal adjustment, fiscal consolidation

The strategy that has the best chance of allowing the Republic of Marshall Islands (RMI) to achieve fiscal sustainability after FY2023 involves substantial fiscal consolidation. The alternative (policy action) scen...

Republic of the Marshall Islands

Republic of the Marshall Islands »

Source: Republic of the Marshall Islands : Selected Issues and Statistical Appendix

Volume/Issue: 2008/186

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2008

ISBN: 9781451825947

Keywords: budget, fiscal surplus, fiscal adjustment, fiscal consolidation

The strategy that has the best chance of allowing the Republic of Marshall Islands (RMI) to achieve fiscal sustainability after FY2023 involves substantial fiscal consolidation. The alternative (policy action) scen...

Republic of the Marshall Islands: Selected Issues and Statistical Appendix

Republic of the Marshall Islands: Selected Issues and Statistical Appendix »

Source: Republic of the Marshall Islands : Selected Issues and Statistical Appendix

Volume/Issue: 2008/186

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2008

ISBN: 9781451825947

Keywords: budget, fiscal surplus, fiscal adjustment, fiscal consolidation

The strategy that has the best chance of allowing the Republic of Marshall Islands (RMI) to achieve fiscal sustainability after FY2023 involves substantial fiscal consolidation. The alternative (policy action) scen...