Kiribati: 2025 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2025/172, IMF Staff Country Reports from International Monetary Fund

Abstract: The Article IV Consultation discusses that the Kiribati economy has rebounded following the coronavirus disease 2019 (COVID-19) pandemic and continues to grow steadily, despite shocks. Real gross domestic product grew by an estimated 5.3 percent in 2024 and is now close to its pre-COVID trend. Downside risks have increased but can be addressed with well-calibrated countercyclical fiscal policy and structural reforms. A credible fiscal consolidation over the medium term, accompanied by improved public investment efficiency, is needed to anchor debt and support higher investment in climate adaptation. Over the medium term, a credible fiscal consolidation accompanied by improved public investment efficiency is needed to anchor debt and support higher investment in climate adaptation. Establishing a debt management framework, with enhanced capacity to analyze new borrowing and assess sources of risk, as well as strong governance, transparency and accountability, is vital for continued long-term growth. Continued capacity building to enhance the quality of national statistics is welcome. While the quality of statistics has significantly improved over time, shortcomings that continue to somewhat hamper surveillance should be addressed, particularly in real and external sector statistics and government finance statistics.

Keywords: IMF headquarters; experts from PFTAC; RERF withdrawal; Kiribati economy; fishing revenue; Debt sustainability analysis; Infrastructure; Global; Pacific Islands (search for similar items in EconPapers)
Pages: 87
Date: 2025-07-10
New Economics Papers: this item is included in nep-fle and nep-mac
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