Federated States of Micronesia: Staff Report for the 2015 Article IV Consultation

International Monetary Fund

No 2015/128, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2015 Article IV Consultation highlights that Micronesia’s economy is stagnating, as externally funded infrastructure projects are moving slowly. Difficulties in the business climate, in particular those related to land tenure issues, continue to hold back private sector development. Real GDP growth of about 0.1 percent is estimated for the fiscal year 2014. The Micronesian economy is projected to grow at 0.6 percent in the medium term, while risks on the outlook are tilted to the downside. Growth in 2015 is projected to remain subdued at 0.3 percent, while consumer prices are projected to further decline to negative 1.0 percent thanks to the continued pass through of low oil prices.

Keywords: ISCR; CR; government; FSM authorities; Micronesia; state government; Micronesian authorities; tax reform legislation; expenditure reform; government finance; Extra-budgetary funds; Agroindustries; Pacific Islands; Global; East Asia; Asia and Pacific (search for similar items in EconPapers)
Pages: 60
Date: 2015-05-15
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=42939 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2015/128

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().