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Asia and Pacific > Kiribati

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Cover Asia and Pacific
Asia and Pacific
Small States Monitor, April 2014: Volume 1, Issue 1
Ms. Shari Boyce
,
Mr. Sergei Dodzin
,
Mr. Xuefei Bai
,
Ezequiel Cabezon
,
Mr. Fazurin Jamaludin
,
Mr. Yiqun Wu
, and
Ms. Rosanne Heller

Abstract

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—most of which are Pacific islands. As part of APD’s ongoing effort to increase its engagement with regional small states and their development partners and enhance information sharing within the IMF, this issue marks the launch of the APD Small States Monitor, a quarterly bulletin featuring the latest economic developments, country notes from the most recent Article IV staff reports, special topics, past and upcoming events, and forthcoming IMF research on small states. In future issues, we will also host contributions from the authorities of small states and their development partners on key policy topics. Our goal is to exchange knowledge and deepen our understanding of the policy challenges these economies face to better tailor our policy advice.

Keywords:
MISC PERIOD; Misc.; IMF staff estimate; household debt; commodity exporter; IMF Asia; fishing license fee; APD small states outlook; Agroindustries; Fiscal stance; Natural disasters; Income tax systems; Pacific Islands; Asia and Pacific; Global
Cover IMF Staff Country Reports
Kiribati: 2013 Article IV Consultation—Staff Report; Informational Annex, Debt Sustainability Analysis, Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Kiribati
International Monetary Fund. Asia and Pacific Dept
Kiribati is one of the poorest and most remote microstates in the Pacific. It is highly dependent on volatile fishing license fees, remittances, and donor assistance. The challenge is to implement fiscal and structural reforms to help ensure fiscal sustainability, promote private sector development, and increase its resilience to external shocks. Fully using its marine potential beyond fishing license fees will help to improve fiscal revenues and growth opportunities. More generally, private sector development is critical for both increasing growth and reducing fiscal pressures.
Keywords:
ISCR; CR; government; real GDP; debt; RERF balance; RERF assets; Kiribati authorities; staff projection; policy reform matrix; Kiribati's so; Agroindustries; Climate change; Pacific Islands; Australia and New Zealand; Global
Cover IMF Staff Country Reports
Kiribati: Statistical Appendix
International Monetary Fund
This report presents data provided by the authorities during 2005–09, which include Kiribati's contributions to GDP growth and gross national product. It provides a summary of central government's operations, revenue 2005–09, central government expenditure (functional and economic classifications), salary structure 2004–08, and budgetary subsidies to public enterprises. Details of assets and the liabilities of the Development Bank of Kiribati, provident funds, ANZ bank's balance sheets and interest rates, and composition of exports and imports are also mentioned. It shows services and income, external grants, and external assets and liabilities as well.
Keywords:
ISCR; CR; Kiribati authorities; Kiribati; gross domestic product; cooperative society; Kiribati housing corporation; development fund; interest stabilization; Income; Agroindustries; Current spending; Transportation; Australia and New Zealand
Cover IMF Staff Country Reports
Kiribati: 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Kiribati
International Monetary Fund
This 2009 Article IV Consultation highlights that inflation in Kiribati increased to about 19 percent by end-2008, largely reflecting higher food prices. The current account deficit was broadly unchanged in 2008. Structural reforms are under way, although the pace has been limited by capacity constraints. Executive Directors have welcomed the recent improvement in economic activity. They have also welcomed the planned review and reform of public enterprises as critical to promoting private sector development, and to boosting the growth potential.
Keywords:
ISCR; CR; government; Kiribati; GDP; public enterprise; Kiribati economy; Kiribati authorities; PFTAC advisor; administered fuel price; PFTAC Multisector Statistics Advisor; Public sector; Income; Global; Pacific Islands; Australia and New Zealand