Republic Of The Marshall Islands Staff Report For The Article Iv Consultation
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| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 2011-12-02 |
| Genre | : Business & Economics |
| ISBN | : 1463929242 |
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 financial sector remained focused on consumer lending and contributed little to overall economic growth. Although the financial sector remained profitable, much of the rapid growth in credit has been in consumer loans. The authorities are monitoring high levels of household debt and intend to begin work on strengthening the regulatory framework.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 78 |
| Release | : 2021-05-27 |
| Genre | : Business & Economics |
| ISBN | : 1513572865 |
Strong and timely containment measures have successfully prevented a domestic COVID-19 outbreak but have also weighed on economic activity. The real GDP is estimated to have contracted by 3.3 percent in FY2020 and is projected to further decline by another 1.5 percent in FY 2021 due to continued travel restrictions. Economic activity is expected to pick up in FY2022, as COVID-related restrictions will be relaxed gradually. The government is currently negotiating the renewal of Compact of Free Association (COFA) financial provisions with the United States, but terms remain uncertain. The government is considering to repeal the SOV Act and a bill on establishing a Digital Economic Zone was submitted to the Parliament recently.
| Author | : |
| Publisher | : |
| Total Pages | : 46 |
| Release | : 2008 |
| Genre | : Marshall Islands |
| ISBN | : |
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 67 |
| Release | : 2022-02-07 |
| Genre | : Business & Economics |
| ISBN | : |
Early and decisive measures successfully prevented an outbreak of COVID-19 in Nauru, and as of January 2022 there have been no COVID-19 cases on the island. Strong pandemic policy measures supported the economy, which continued to expand in FY20 and FY21. Nauru’s remoteness and size constrain potential growth and it is severely exposed to the negative effects of climate change on sea levels and the ocean stock of tuna. Development challenges are exacerbated by limited capacity and a high incidence of non-communicable diseases (NCDs).
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 45 |
| Release | : 2006-03-08 |
| Genre | : Business & Economics |
| ISBN | : 1451825919 |
Real output growth of the Republic of the Marshall Islands appears to have slowed sharply in FY2003 and again in FY2004. The 2005 Article IV Consultation highlights that the economic activity has been hampered by delays in implementing an upgraded public works program and the closure of a large privately owned tuna processing plant. The fiscal position deteriorated in FY2004. This deterioration reflects, on the revenue side, a decline in grants aimed at infrastructure projects owing in part to delays in initiating projects, lower income tax collection, and volatility in nontax revenue.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 2001-09-21 |
| Genre | : Business & Economics |
| ISBN | : 1451927177 |
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 discussions with government officials, is published at the option of the member country.
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 58 |
| Release | : 2016-07-29 |
| Genre | : Business & Economics |
| ISBN | : 1475520557 |
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 moderate inflation of 1.1 percent in FY2014, headline inflation dropped to –2.2 percent in FY2015 amid falling oil and utility prices. The fiscal balance is estimated to have recorded a surplus of about 3 percent of GDP in FY2014–15, owing to record-high fishing license fees. Growth is expected to rise to about 1.5 percent and inflation to about 0.5 percent in FY2016, as the effects of the drought in earlier 2016 are offset by the resumption of infrastructure projects.
| Author | : International Monetary Fund. Strategy, Policy, & Review Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 68 |
| Release | : 2024-07-25 |
| Genre | : |
| ISBN | : |
This guidance note provides operational guidance on the Fund’s engagement with small developing states (SDS). It highlights the unique economic characteristics and constraints facing SDS, notably in a more shock-prone world. Building on advice that applies to the full membership, the note explains how the characteristics of SDS shape Fund surveillance, financial support and program design, capacity development (CD), and collaboration with other institutions and donors. The note updates the previous version that was published in December 2017.
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 82 |
| Release | : 2023-10-16 |
| Genre | : Business & Economics |
| ISBN | : |
Real GDP declined by 4.5 percent in FY2022 due entirely to a decline in fisheries. However, excluding the sector, growth was 4.2 percent, fueled by a recovery in domestic demand. Inflation has picked up due to higher food and fuel prices, while the current account surplus narrowed as COVID-related grants declined and the trade deficit widened.
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 54 |
| Release | : 2020-01-29 |
| Genre | : Business & Economics |
| ISBN | : 1513528432 |
This 2019 Article IV Consultation with Republic of Nauru highlights that it remains vulnerable to climate change and has a narrow economic base and limited capacity. Development challenges are increased by unavailability of land and high incidence of noncommunicable diseases. Growth was stronger than expected in FY2018 but slowed in FY2019. The outlook is subdued, with growth expected to reach 2 percent in the medium term. Revenues are projected to decline, necessitating a fiscal adjustment. Risks are skewed to the downside and include the scaling down of Regional Processing Centre activity and revenues, volatile fishing revenues, climate change, and delays in fiscal and structural reforms. Fiscal adjustment is required to avoid a breach of the fiscal anchor, contain debt, and maintain the Trust Fund contributions. New sources of economic growth and income are needed to support Nauru’s development agenda. Policies should be implemented in the near term to support private sector activity, including through financial sector development, state-owned enterprises reform, and land rehabilitation. The effectiveness of education and health spending needs to be improved to meet development goals.
