Federated States of Micronesia: 2008 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

March 5, 2009

Preview Citation

Format: Chicago

Federated States of Micronesia: 2008 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Summary

The staff report for the 2008 Article IV Consultation of the Federated States of Micronesia examines economic developments and policies. Growth could recover modestly in the near term as falling commodity prices boost real incomes and progress is made on spending unused compact infrastructure grants. The authorities have limited tools to address risks from the global slowdown. Given the urgency of fiscal consolidation, expenditures should be streamlined and preparations for the comprehensive tax reform intensified.

Subject: Commercial banks, Extra-budgetary funds, Financial institutions, Income, Loans, Multilateral development institutions, National accounts, Public financial management (PFM), Revenue administration

Keywords: Commercial banks, CR, Extra-budgetary funds, FSM authorities, FSM authority, FSM citizen, FSM economy, Global, Growth prospect, Income, ISCR, Loans, Pacific Islands, Price

Publication Details

Pages:

40
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/081
Stock No:

1FSMEA2009002
ISBN:

9781451813838
ISSN:

1934-7685

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