Kiribati: 2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati
IMF Staff Country Reports, January 24, 2019
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- Kiribati: 2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati
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Bibliographic details
- Published: January 24, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484396131.002
Executive summary and growth outlook
- Growth has been strong in recent years and some moderation is expected, with risks skewed to the downside.
- High fishing revenues improved the fiscal position, but generated pressure to increase spending.
- There has been progress on fiscal and structural reforms.
- Public spending needs are large, driven by an infrastructure gap and climate adaptation costs.
- The country remains at high risk of debt distress.
Fiscal position and public spending pressures
- High fishing revenues improved the fiscal position.
- Increased fiscal pressure to raise spending followed the higher fishing revenues.
- Large public spending needs are driven by:
- an infrastructure gap, and
- climate adaptation costs.
Reforms, risks, and debt
- Progress has been made on fiscal and structural reforms.
- Risks to the outlook are skewed to the downside.
- Kiribati remains at high risk of debt distress.
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- Country Report