IMF Staff Country Reports

Republic of the Marshall Islands: 2008 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

Publication Date:

June 13, 2008

Electronic Access:

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Summary:

The Republic of the Marshall Islands (RMI), scattered across an area of nearly 1 million square miles in the Central Pacific, is heavily dependent on external grants. As in past consultations, the current discussions have focused on policies to put public finances on a secure footing and improve growth prospects. Recent economic performance has been lackluster. Exports have been held back mainly by structural problems. The fiscal position has improved in FY2006, but the overall balance has been slightly negative at about ½ percent of GDP.

Series:

Country Report No. 2008/185

Subject:

Balance of payments Current account External debt Extra-budgetary funds Fiscal consolidation Fiscal policy Macrostructural analysis Public financial management (PFM) Structural reforms