Samoa: 2019 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Samoa
IMF Staff Country Reports, May 17, 2019
Source details
- Canonical URL
- Samoa: 2019 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Samoa
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Bibliographic details
- Published: May 17, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498315647.002
Economic outlook and inflation
- Growth is expected to rebound after reaching a five-year low.
- Price pressures driven by temporary factors are receding.
- Inflation is projected to return to below the authorities’ target of 3 percent.
Vulnerabilities and risks
- Samoa remains vulnerable to natural disasters.
- Samoa faces correspondent banking relationship (CBR) pressures.
- The authorities have made progress in implementing measures to mitigate these risks.
Fiscal and monetary policy guidance
- Policies should focus on tightening fiscal policy to ensure sustainability while achieving progress towards development goals.
- It is important to tighten fiscal policy compared to the baseline.
- Improve the monetary policy transmission mechanism.
Structural reform priorities
- Implement structural reforms to boost potential growth and make it more inclusive.
- Introduce focused structural reforms on:
- Building resilience to natural disasters.
- Enhancing the business environment.
- Encouraging female labor participation.
- Improving the trade facilitation framework.
Key thematic findings
- Samoa faces several economic challenges but continues to show resilience and a high level of engagement with IMF.
- Mitigating risks from CBR pressures is a policy priority alongside fiscal consolidation and structural reforms.
IMF Staff Country Report: Samoa: 2019 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Samoa (May 17, 2019).
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