Tuvalu: Staff Report for the 2012 Article IV Consultation
IMF Staff Country Reports, September 4, 2012
Source details
- Canonical URL
- Tuvalu: Staff Report for the 2012 Article IV Consultation
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Bibliographic details
- Published: September 4, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475505795.002
Macroeconomic performance and external linkages
- The country has reported slow economic growth after the global crisis.
- Export and economic expansions have been minimal with many of its goods imported.
- The main source of income for the country continue to be remittances from its citizens working abroad and donor assistance.
- External linkages emphasize dependence on remittances and donor flows rather than export earnings.
Fiscal and public policy priorities
- The government has laid out a rigid agenda for improving fiscal strength.
- Policy priorities include:
- improving literacy rate
- improving power (energy) services
- improving health services
- reducing nonpriority expenditure
- Authorities view these challenges as having given a fighting spirit to the country.
Findings and analysis (summary)
- Slow post-crisis growth and limited export expansion characterize Tuvalu’s recent economic condition.
- High import content of consumption and production reinforces external dependence.
- Fiscal consolidation and public financial management reforms are central to strengthening economic resilience.
- Human capital and infrastructure (literacy, power, health) are key areas targeted for improvement to support longer-term growth.
Subjects and keywords
- Subjects: External debt, National accounts, Personal income, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM)
- Keywords: Australia and New Zealand, CR, exchange rate appreciation, financing buffer, Global, government, IMF staff estimate, investment strategy, ISCR, Pacific Islands, Public and publicly-guaranteed external debt, real GDP, Tuvalu authorities
IMF Staff Country Report — Tuvalu: Staff Report for the 2012 Article IV Consultation
Content in this bundle
- Tuvalu: Staff Report for the 2012 Article IV consultation; IMF Country Report 12/259; July 6, 2012