## Samoa: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Samoa

_IMF Staff Country Reports, April 28, 2020_

## Source details

**Canonical URL:** [Samoa: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Samoa](https://www.imf.org/en/publications/cr/issues/2020/04/28/samoa-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49379)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/04/28/samoa-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49379/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/04/28/samoa-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49379/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/04/28/samoa-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49379/bundle-manifest.json)

## Bibliographic details
- Published: April 28, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513542409.002

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### Overview and context
- Samoa requested a disbursement under the Rapid Credit Facility in response to an urgent balance of payments need.
- The global coronavirus disease 2019 pandemic has exacerbated the impact of the measles outbreak of late-2019 on Samoa’s economy.
- Border closure, sudden stop of tourist arrivals, and decline in remittances produced a precipitous fall in two vital sources of foreign earnings.

### Macroeconomic and balance-of-payments implications
- Urgent balance of payments need driven by:
  - Border closure and sudden stop of tourist arrivals.
  - Decline in remittances.
- IMF engagement aims to address immediate financing needs through the Rapid Credit Facility.

### Policy findings and priorities
- Samoa has shown resilience to multiple past economic shocks, underpinned by:
  - The authorities’ strong commitment to support the economy.
  - Financial assistance provided by the international community.
- Beyond the immediate response, authorities will continue to implement structural reforms with policies balanced between:
  - Safeguarding debt sustainability.
  - Promoting economic growth.

### Policy recommendations and structural reforms
- Continue efforts to enhance spending efficiency.
- Strengthen social protection programs and safety nets.
- Further improve tax administration.
- Strengthen public financial management.
- Safeguard financial stability.
- Address vulnerability to climate change as a key medium-term challenge to create a fiscal buffer.

### Subject classification and keywords
- Subject: Balance of payments, Balance of payments need, COVID-19, Credit, Financial institutions, Health, Loans, Money, Public debt
- Keywords: Australia and New Zealand, Balance of payments need, COVID-19, CR, Credit, fund Support, Global, IMF disbursement, IMF financing support, ISCR, Loans, remittance inflow, response package, Samoan authorities

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## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/files/publications/cr/2020/english/1wsmea2020001.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/files/publications/cr/2020/english/1wsmea2020001.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/04/28/samoa-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49379_