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
February 26, 2010
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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.
Subject: Banking, Economic sectors, Environment, Government debt management, Imports, Infrastructure, International trade, National accounts, Natural disasters, Public financial management (PFM), Tourism
Keywords: cost, CR, ESF disbursement, executive board discussion, financing, financing gap, Global, Government debt management, Imports, Infrastructure, ISCR, Natural disasters, reconstruction needs, Samoa, spending need, Tourism
Pages:
46
Volume:
2010
DOI:
Issue:
046
Series:
Country Report No. 2010/046
Stock No:
1WSMEA2010001
ISBN:
9781451840773
ISSN:
1934-7685
