{
  "title": "Kiribati: 2018 Article IV Consultation -Press Release; Staff Report; and Statement by the Executive Director for Kiribati",
  "publication": "IMF Staff Country Reports, January 24, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/01/24/kiribati-2018-article-iv-consultation-press-release-staff-report-and-statement-by-the-46546",
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  "summary": "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.",
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    {
      "heading": "Executive summary and growth outlook",
      "content": "- Growth has been strong in recent years and some moderation is expected, with risks skewed to the downside.\n- High fishing revenues improved the fiscal position, but generated pressure to increase spending.\n- There has been progress on fiscal and structural reforms.\n- Public spending needs are large, driven by an infrastructure gap and climate adaptation costs.\n- The country remains at high risk of debt distress."
    },
    {
      "heading": "Fiscal position and public spending pressures",
      "content": "- High fishing revenues improved the fiscal position.\n- Increased fiscal pressure to raise spending followed the higher fishing revenues.\n- Large public spending needs are driven by:\n  - an infrastructure gap, and\n  - climate adaptation costs."
    },
    {
      "heading": "Reforms, risks, and debt",
      "content": "- Progress has been made on fiscal and structural reforms.\n- Risks to the outlook are skewed to the downside.\n- Kiribati remains at high risk of debt distress.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "[Markdown version](/en/publications/cr/issues/2019/01/24/kiribati-2018-article-iv-consultation-press-release-staff-report-and-statement-by-the-46546/index.md)",
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    "Published: January 24, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484396131.002",
    "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.",
    "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:",
    "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.",
    "**Country Report**"
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