Abstract

This issue of the Asia & Pacific Small States Monitor focuses on the challenges facing Asia and Pacific small states associated with natural disasters and climate change. Most tourism-oriented economies experienced a robust increase in arrivals, partly reflecting country-specific factors. Among commodity exporters (Bhutan, Solomon Islands, and Timor-Leste) and other Asia and Pacific small states, growth remains uneven: robust activity in Bhutan was driven mainly by hydropower-related construction activities; Solomon Islands experienced a continuing decline of logging stocks and a short-term disruption of gold production; and Timor-Leste’s ongoing depletion of oil reserves has led to a tighter budget constraint and lower government spending in the non-oil sector.

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IMF Solomon Islands mission team with Denton Rarawa, Governor of the Central Bank of Solomon Islands and Vicki Plater, IMF Alternate Executive Director
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IMF Tonga mission team with Sione Ngongo Kioa, Governor of the National Reserve Bank of Tonga
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Hon. Maatia Toafa, Minister of Finance and Economic Development, Tuvalu (L), Wipada Soonthornsima, Deputy Division Chief, IMF Statistics Dept (C), and Scott Roger, PFTAC Coordinator (R)
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Pacific islands senior officials and development partners at the PFTAC Steering Committee Meeting
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IMF Palau mission team with the Palau authorities and members of the Palau National Congress
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Hoe Ee Khor, Deputy Director, Asia and Pacific Department, IMF
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Hon. Thomas Remengesau, President of Palau, and Patrizia Tumbarello, IMF Pacific Islands Unit Chief