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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455207926
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
The key findings of the Republic of Palau’s 2010 Article IV Consultation shows that the single most important issue in Palau remains fiscal policy, including its effect on medium-term growth, as fiscal consolidation proceeds. The global financial crisis followed on the heels of a massive terms-of-trade shock, leading to a sharp curtailment of foreign direct investment and private credit. Tourism tumbled following an airline bankruptcy, and construction activity fell as major infrastructure projects reached completion.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 81
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Book Description
Palau has emerged from the pandemic with significant output loss, elevated public debt and historically high inflation. Adverse demographic trends, high dependence on tourism and external support, and vulnerability to climate change risks raise vulnerabilities. The authorities successfully enacted a fiscal responsibility framework and modernized the tax system. A new Compact Review Agreement (CRA-23), with better financial terms, is awaiting approval by US Congress.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455207926
Category : Business & Economics
Languages : en
Pages : 46
Get Book Here
Book Description
The key findings of the Republic of Palau’s 2010 Article IV Consultation shows that the single most important issue in Palau remains fiscal policy, including its effect on medium-term growth, as fiscal consolidation proceeds. The global financial crisis followed on the heels of a massive terms-of-trade shock, leading to a sharp curtailment of foreign direct investment and private credit. Tourism tumbled following an airline bankruptcy, and construction activity fell as major infrastructure projects reached completion.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484370236
Category : Business & Economics
Languages : en
Pages : 45
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Book Description
This 2014 Article IV Consultation highlights that after two years of strong expansion, growth is estimated at about zero percent in the fiscal year 2013 (FY2013, ending in September) in the Republic of Palau owing to declines in construction and tourism. Inflation moderated to 23⁄4 percent (annual average) in FY2013 thanks to stable international food and fuel prices, and it is expected to stay at about 3 percent in FY2014. Growth is projected to increase to 13⁄4 percent in FY2014 and to 21⁄4–21⁄2 percent over the medium term driven by the recovery in tourism and infrastructure developments.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1616357185
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
The COVID-19 pandemic and related containment measures have severely impacted the economy. Border closure and the suspension of commercial flights curtailed tourist arrivals. Real GDP contracted by 9.7 percent in FY2020, notwithstanding policy support. The economic contraction is estimated to have deepened in FY2021, and a gradual recovery is expected in FY2022 as tourism activities resume. While Palau’s public debt remains sustainable, the economic fallout of the pandemic and the cost of the fiscal response have led to a sharp deterioration of the fiscal position and a rapid increase in public debt. The high share of concessional loans from multilateral creditors in Palau’s external debt is an important risk mitigating factor. Palau is vulnerable to climate change and natural disasters.
Author: Kenneth Kang
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
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Book Description
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ISBN:
Category : Palau
Languages : en
Pages : 46
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475580509
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
This 2012 Article IV Consultation reports that Palau’s growth is expected to be favorable at 3 percent in FY2012 and to average 2 percent over the medium term. The outlook is clouded by an unsettled global environment, and downside risks dominate. Highly dependent on tourism, imports of food and fuel, and foreign aid, Palau remains vulnerable to external headwinds and has limited policy space to counter these risks. The authorities have made commendable efforts to reduce the current fiscal deficit markedly during FY2010–11, but the deficit remains sizable.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1475545940
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
Palau is a middle-income micro state in the Pacific (population: 18,000) that relies heavily on tourism and grants, and is exposed to natural disasters. The economy grew strongly at 9.4 percent in FY2015 led by robust tourism and construction activity, but the surge in tourist arrivals strained infrastructure and was tilted to low budget tourism. The fiscal position has improved, but further efforts are needed to ensure long-term fiscal sustainability. The outlook is favorable although subject to significant downside risks. The discussions focused on
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484397916
Category : Business & Economics
Languages : en
Pages : 63
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Book Description
This Article IV Consultation discussions with the Republic of Palau focused on ensuring long-term fiscal sustainability, making potential growth more resilient and sustainable, and preserving financial stability and facilitating credit extension. The consultation discussions also highlight that the main economic policy priorities for Palau are to develop a medium-term fiscal framework and strategy to help manage fiscal risks and the expiration of the Compact grants, to raise public investment, to protect social spending, to make growth more resilient and sustainable through other reforms, and to preserve financial stability and integrity. The current fiscal policy approach is based on the legal requirement to maintain a balanced or surplus cash flow for various parts of the budget. While this fiscal policy strategy has resulted in overall budget surpluses and a decline in net debt, the move to a medium-term fiscal framework and strategy would help Palau to address future challenges.
