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Federated States of Micronesia : 2019 Article IV Consultation
Press Release; Staff Report; and Statement by the Executive Director for the Federated States of Micronesia

Series:Country Report No. 19/288
ISBN 9781513513263
Code: #1FSMEA2019001

Publication year: 2019

Cdn: $25.00; US: $18.00
Language: English
78 pages
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The economy of the Federated States of Micronesia (FSM) has performed well in recent years, with relatively high growth and low inflation. Fiscal and current account balances have recorded large surpluses since 2017, owing to the authorities’ decision to save revenue windfalls. Nonetheless, the FSM faces significant medium-term uncertainty as various economic supports under the Compact Agreement with the United States are set to expire in 2023. Unless they are renewed, the FSM is expected to lose access to Compact grants, giving rise to a fiscal cliff in 2023; banking sector oversight by the Federal Deposit Insurance Corporation; and post-disaster rehabilitation assistance. The country is highly vulnerable to climate change, while private sector activity remains anemic.
Federated States of Micronesia : 2019 Article IV Consultation
Cdn: $25.00; US: $18.00
International Monetary Fund (IMF) BookID: 125761 Added: 2019.9.6