Federated States of Micronesia: Recent Economic Developments

International Monetary Fund

No 1996/107, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper analyzes recent economic developments in the Federated States of Micronesia. Real GDP grew by a modest 1 percent in 1995, well below the average growth rate recorded during 1991–94, according to tentative estimates prepared by the IMF staff. The overall fiscal balance of the national government has registered surpluses for the past several years. Total revenue and grants have increased, mainly reflecting higher nontax revenue from fishing license fees from Korea and Taiwan, Province of China, and higher non-Compact grants.

Keywords: ISCR; CR; government; Micronesian authorities; Chuuk government; government hiring; Micronesian authority; General government finance; Pohnpei government; national government; Loans; Income; Agroindustries; Wages; Current spending; Pacific Islands (search for similar items in EconPapers)
Pages: 33
Date: 1996-10-15
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