In vielen europäischen Staaten steigt die Zahl der Asylanträge ebenso wie der Zuspruch für rechtspopulistische Parteien weiter an. Initiativen wie der Ruanda-Plan der britischen Regierung und das Albanien-Abkommen der italienischen Regierung können als Reaktion darauf verstanden werden. Sie...

Economic growth has been volatile since the Covid-19 pandemic, and inflation reached decade-high levels mainly due to higher prices of imported food and energy. High vulnerability to climate change is also intensifying food security concerns. Despite the weak domestic economy, the fiscal and...

In vielen europäischen Staaten steigt die Zahl der Asylanträge ebenso wie der Zuspruch für rechtspopulistische Parteien weiter an. Initiativen wie der Ruanda-Plan der britischen Regierung und das Albanien-Abkommen der italienischen Regierung können als Reaktion darauf verstanden werden. Sie...

The 2023 Article IV Consultation discusses that Nauru faces structural challenges due to its small size and remoteness, and is highly dependent on imports. The narrow revenue base comprises fishing license fees, residual phosphate processing, and revenue from the Regional Processing Center...

Seit 2020 die Indo-Pazifik-Leitlinien der Bundesregierung veröffentlicht wurden, hat die deutsche Politik wichtige Fortschritte dabei erzielt, die Beziehungen mit bestehenden und neuen Partnern in der indopazifischen Region zu vertiefen. Der diesjährige Fortschrittsbericht zu den Leitlinien...

Seit 2020 die Indo-Pazifik-Leitlinien der Bundesregierung veröffentlicht wurden, hat die deutsche Politik wichtige Fortschritte dabei erzielt, die Beziehungen mit bestehenden und neuen Partnern in der indopazifischen Region zu vertiefen. Der diesjährige Fortschrittsbericht zu den Leitlinien...

A virtual technical assistance (TA) mission supported by the IMF's Asia and Pacific Department (APD) was conducted by the IMF Statistics Department (STA) and the Pacific Financial Technical Assistance Centre (PFTAC) during October 25 - November 2, 2021. The mission assisted the Department of...

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...

I report the measurement error in self-reported earnings for a developing country. Administrative data from the Federated States of Micronesia's (FSM) Social Security office are matched to the FSM Census data for the wage sector employed. I find that the error in annual self-reported earnings is...

The COVID-19 pandemic and related containment measures have put severe strains on the economy. The economic policy response has been strong and generally appropriate, helping counter the negative effects of the pandemic. Nevertheless, as the international borders remain shut, the economic...

The International Monetary Fund's (IMF's) Statistics Department (STA) provided technical assistance (TA) on financial soundness indicators (FSI) to the Federated States of Micronesia Banking Board (FSMBB) during November 2-13, 2020. The TA mission took place in response to a request from the...

This departmental paper provides an in-depth overview of access to climate finance for Pacific Island Countries, evaluating successes and challenges faced by countries and proposes a way forward to unlock access to climate funds

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...

This Climate Change Policy Assessment (CCPA) takes stock of the Federated States of Micronesia (FSM)'s climate response plans, from the perspective of their macroeconomic and fiscal implications. CCPA explores the possible impact of climate change and natural disasters and the cost of FSM's...

This 2019 Article IV Consultation with Federated States of Micronesia (FSM) highlights that the economy has performed well in recent years, with relatively high growth and low inflation. Fiscal and current account balances have recorded large surpluses since 2017, owing to the authorities'...

This 2017 Article IV Consultation highlights that the Micronesian economy continued its gradual recovery in fiscal year 2016 (ending September 30), after three years of contraction during 2012-14. Real GDP is estimated to have grown by 3.0 percent in 2016, driven by increased construction...

This 2017 Article IV Consultation highlights Nauru's growth and a substantial improvement in government revenue in recent years thanks to processing of asylum seekers by the Australian Regional Processing Center (RPC), fishing license fees, and residual phosphate mining. In the near term, GDP...

Mean obesity level of the 2 - 8-year-old children in the region was 14.4%, 14.1% were overweight, 2.7% were underweight, 1.4% were stunted, and 6.8% were stunted at birth. Acanthosis nigricans prevalence was 5%, an indicator of pre-diabetes. Sixty-one percent of the children were Native Hawaiian...

Brain drain has long been a common concern for migrant-sending countries, particularly for small countries where high-skilled emigration rates are highest. However, while economic theory suggests a number of possible benefits, in addition to costs, from skilled emigration, the evidence base on...

Federated States of Micronesia (FSM) is a small and sparsely-populated state vulnerable to climate change. Over the medium term, the country needs to prepare for the expiration of U.S. Compact grants from FY2024 onward, adapt to climate change, facilitate sustainable private-sector growth, and...

The scale and complexity of global forced displacement has created enormous humanitarian, social, economic and political challenges across the globe. The Australian Government responded by putting in place a range of policies designed to deter people from seeking asylum in Australia through...

KEY ISSUES Context. Raising growth and ensuring long-term fiscal sustainability remain the two critical issues of the FSM. The reform agenda, in particular, the tax reform package and growth-enhancing reforms, hinges on achieving a national consensus in a loosely federated nation. Outlook. The...

Growth has been sluggish in Pacific island countries (PICs). High cost of credit is likely one of the reasons. While the small scale, geographic dispersion, and vulnerability to shocks increase the cost and risk of credit in this country group, there is considerable variability in interest rate...

Growth has been sluggish in Pacific island countries (PICs). High cost of credit is likely one of the reasons. While the small scale, geographic dispersion, and vulnerability to shocks increase the cost and risk of credit in this country group, there is considerable variability in interest rate...

The Federated States of Micronesia (FSM) remains at high risk of debt distress under the Debt Sustainability Framework (DSF). Unless the compact agreement with the United States or parts of it are renewed, the FSM will face a fiscal cliff when the U.S. Compact grants amounting to 20 percent of...

The Monitor provides an update of developments in Pacific economies and explores topical policy issues.

The Pacific Private Sector Development Initiative (PSDI) is a regional technical assistance facility cofinanced by the Asian Development Bank (ADB), Australian Aid, and the New Zealand Aid Programme. PSDI works with ADB’s 14 Pacific developing member countries to improve the enabling...

The Monitor provides an update of developments in Pacific economies and explores topical policy issues.

The Monitor provides an update of developments in Pacific economies and explores topical policy issues.

The Monitor provides an update of developments in Pacific economies and explores topical policy issues.

The Federated States of Micronesia (FSM) is highly dependent on external aid. Following a recession in FY2006–08, the FSM economy has grown by 2–21⁄2 percent for FY2010 and FY2011. The economy remains dependent on the large public sector, although the fisheries and agriculture sectors have...

This statistical appendix paper for the Federated States of Micronesia (FSM) was prepared as background documentation for the periodic consultation with the member country, during the period 2004–11. This paper is based on the information available at the time it was completed on December 20,...

The Monitor provides an update of developments in Pacific economies and explores topical policy issues.

Brain drain has long been a common concern for migrant-sending countries, particularly for small countries where high-skilled emigration rates are highest. However, while economic theory suggests a number of possible benefits, in addition to costs, from skilled emigration, the evidence base on...