Republic of the Marshall Islands: 2008 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
June 13, 2008
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The Republic of the Marshall Islands (RMI), scattered across an area of nearly 1 million square miles in the Central Pacific, is heavily dependent on external grants. As in past consultations, the current discussions have focused on policies to put public finances on a secure footing and improve growth prospects. Recent economic performance has been lackluster. Exports have been held back mainly by structural problems. The fiscal position has improved in FY2006, but the overall balance has been slightly negative at about ½ percent of GDP.
Subject: Balance of payments, Current account, External debt, Extra-budgetary funds, Fiscal consolidation, Fiscal policy, Macrostructural analysis, Public financial management (PFM), Structural reforms
Keywords: authority, CR, Current account, economic statistics, Extra-budgetary funds, Fiscal consolidation, Global, IMF staff estimate, ISCR, Pacific Islands, PFTAC Advisor, RMI authorities, RMI country statistics generation, RMI government, Structural reforms
Pages:
39
Volume:
2008
DOI:
Issue:
185
Series:
Country Report No. 2008/185
Stock No:
1MHLEA2008001
ISBN:
9781451825930
ISSN:
1934-7685
