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.

IMF Solomon Islands mission team with Denton Rarawa, Governor of the Central Bank of Solomon Islands and Vicki Plater, IMF Alternate Executive Director
IMF Tonga mission team with Sione Ngongo Kioa, Governor of the National Reserve Bank of Tonga
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)
Pacific islands senior officials and development partners at the PFTAC Steering Committee Meeting
IMF Palau mission team with the Palau authorities and members of the Palau National Congress
Hoe Ee Khor, Deputy Director, Asia and Pacific Department, IMF
Hon. Thomas Remengesau, President of Palau, and Patrizia Tumbarello, IMF Pacific Islands Unit Chief