Tuvalu: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tuvalu

August 4, 2021

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Format: Chicago

Tuvalu: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tuvalu, (USA: International Monetary Fund, 2021) accessed December 21, 2024

Summary

Swift implementation of containment measures, limited spillovers from tourism, and COVID-related fiscal spending financed by buoyant fishing revenues and donor grants have allowed Tuvalu—a fragile Pacific micro-state—avoid a recession in 2020. The economy is expected to expand by 2.5 percent in 2021, supported by fiscal expenditures and resumption of infrastructure projects. But significant challenges remain: Tuvalu is vulnerable to the effects of climate change, its economy is dominated by the public sector, and its revenue base is narrow. Uncertainty around donor commitments complicates fiscal planning.

Subject: Budget planning and preparation, Debt sustainability analysis, External debt, Financial regulation and supervision, International organization, Monetary policy, Public debt, Public financial management (PFM)

Keywords: AIV consultation, Asia and Pacific, Australia and New Zealand, Budget planning and preparation, Budget preparation process, CPI expenditure weight, Debt sustainability analysis, Global, Government travel, Pacific Islands, PFTAC assistance, Tuvaluan authorities

Publication Details

Pages:

95
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/176
Stock No:

1TUVEA2021001
ISBN:

9781513591476
ISSN:

1934-7685

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