Republic of Palau: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Palau

December 21, 2023

Preview Citation

Format: Chicago

Republic of Palau: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Palau, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

Palau has emerged from the pandemic with significant output loss, elevated public debt and historically high inflation. Adverse demographic trends, high dependence on tourism and external support, and vulnerability to climate change risks raise vulnerabilities. The authorities successfully enacted a fiscal responsibility framework and modernized the tax system. A new Compact Review Agreement (CRA-23), with better financial terms, is awaiting approval by US Congress.

Subject: Climate change, Economic sectors, Environment, Fiscal policy, Fiscal stance, International organization, Monetary policy, Public debt, Public financial management (PFM), Tourism

Keywords: Climate change, COFA renewal, East Asia, Fiscal stance, Foreign reserve asset, GDP estimate, Global, Graduate school USA, Macroeconomic prospect, Money market rate, Pacific Islands, Policy option, Tourism

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/430
Stock No:

1PLWEA2023001
ISBN:

9798400260827
ISSN:

1934-7685

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