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Western Hemisphere > American Samoa

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Cover IMF Staff Country Reports
Samoa: Selected Issues
International Monetary Fund
The impact of the 2009 tsunami on tourism and on the Samoan economy is likely to be substantial. The effectiveness of monetary transmission in Samoa has improved over time; however, it is still below international standards. The adverse impact of the crisis on the functioning of the banking system may be alleviated by an improvement in the financial infrastructure. State-owned enterprises (SOE) continue to play an important role in Samoa, and the key to successful SOE reform in Samoa will be placing them on a fully commercial footing.
Keywords:
ISCR; CR; Samoa; public enterprise; private sector; lending; SOE portfolio; SOE reform strategy; SOE divestiture; SOE law; credit growth; SOE Policy; SOE board; SOE reform; SOE account; privatized state carrier; Public enterprises; Tourism; Civil society organizations; Corporate governance; Natural disasters; Pacific Islands
Cover IMF Staff Country Reports
Samoa: Request for Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Samoa
International Monetary Fund
This paper discusses a request from Samoa's authorities for a Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility (ESF-RAC). The tsunami that hit Samoa on September 29, 2009 has undercut Samoa’s economic resilience and prospects for a quick recovery from the global recession. Real GDP is likely to contract in 2010. The authorities have requested a disbursement equivalent to 50 percent of quota (SDR 5.8 million) under the IMF’s ESF-RAC. IMF staff supports the request on Samoa’s low public debt and credible commitment to sound macroeconomic policies.
Keywords:
ISCR; CR; financing gap; Samoa; financing; cost; ESF disbursement; executive board discussion; reconstruction needs; spending need; Natural disasters; Tourism; Infrastructure; Government debt management; Imports; Global