IMF Staff Country Reports

Kiribati : 2017 Article IV Consultation-Press Release; and Staff Report

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

December 18, 2017

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Kiribati is a small and fragile state vulnerable to climate change. Record high fishing revenue in recent years has boosted growth, improved the current account, and strengthened the fiscal stance. However, fishing revenue is projected to decline as the impact of favorable weather conditions wears off. Long-run spending pressure is substantial due to the country’s large infrastructure gap and significant climate change adaptation cost. The government’s development strategy, the Kiribati 20-Year Vision (KV20), identifies fisheries and tourism as the two strategically important sectors to achieve inclusive and sustained long-run growth.

Series:

Country Report No. 17/386

Subject:

Article IV consultation reports Economic growth Economic indicators Executive Board decisions Fiscal policy Fiscal reforms Fiscal sustainability Government expenditures Infrastructure Kiribati Press releases Private sector Revenues Staff reports