IMF Staff Country Reports

Samoa : Request for Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Samoa

Author/Editor:

International Monetary Fund

Publication Date:

February 26, 2010

Electronic Access:

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Summary:

This paper discusses a request from Samoa's authorities for a Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility (ESF-RAC). The tsunami that hit Samoa on September 29, 2009 has undercut Samoa’s economic resilience and prospects for a quick recovery from the global recession. Real GDP is likely to contract in 2010. The authorities have requested a disbursement equivalent to 50 percent of quota (SDR 5.8 million) under the IMF’s ESF-RAC. IMF staff supports the request on Samoa’s low public debt and credible commitment to sound macroeconomic policies.

Series:

Country Report No. 10/46

Subject:

Access to Fund general resources Announcements Balance of payments need Debt sustainability analysis Economic growth Economic indicators Emergency assistance Exogenous Shocks Facility Fiscal management Fiscal policy Fiscal reforms Monetary policy Private sector Samoa Staff Reports