Republic of Palau

Republic of Palau

Author: International Monetary Fund. Asia and Pacific Dept

Publisher: International Monetary Fund

Published: 2014-05-06

Total Pages: 45

ISBN-13: 1484370236

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This 2014 Article IV Consultation highlights that after two years of strong expansion, growth is estimated at about zero percent in the fiscal year 2013 (FY2013, ending in September) in the Republic of Palau owing to declines in construction and tourism. Inflation moderated to 23⁄4 percent (annual average) in FY2013 thanks to stable international food and fuel prices, and it is expected to stay at about 3 percent in FY2014. Growth is projected to increase to 13⁄4 percent in FY2014 and to 21⁄4–21⁄2 percent over the medium term driven by the recovery in tourism and infrastructure developments.


Republic of Palau

Republic of Palau

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2012-03-14

Total Pages: 39

ISBN-13: 1475580509

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This 2012 Article IV Consultation reports that Palau’s growth is expected to be favorable at 3 percent in FY2012 and to average 2 percent over the medium term. The outlook is clouded by an unsettled global environment, and downside risks dominate. Highly dependent on tourism, imports of food and fuel, and foreign aid, Palau remains vulnerable to external headwinds and has limited policy space to counter these risks. The authorities have made commendable efforts to reduce the current fiscal deficit markedly during FY2010–11, but the deficit remains sizable.


Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Author: El Bachir Boukherouaa

Publisher: International Monetary Fund

Published: 2021-10-22

Total Pages: 35

ISBN-13: 1589063953

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This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.


Republic of Fiji

Republic of Fiji

Author: International Monetary Fund. Asia and Pacific Dept

Publisher: International Monetary Fund

Published: 2014-11-12

Total Pages: 60

ISBN-13: 1484333004

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This 2014 Article IV Consultation highlights that growth in Fiji in 2013 accelerated to 4.6 percent. Consumption and investment indicators suggest continued strength in 2014, with economic growth projected at 3.8 percent. Headline inflation is currently low as imported commodity and food prices have remained stable. The Reserve Bank of Fiji lowered its policy rate to 0.5 percent in 2011, and monetary policy has been on hold since then. In response to lower rates and improved confidence, net domestic credit accelerated in the first half of 2014. Based on developments in the first half of 2014, the deficit financing target is on track to be met.


Unlocking Access to Climate Finance for Pacific Island Countries

Unlocking Access to Climate Finance for Pacific Island Countries

Author: Ms. Manal Fouad

Publisher: International Monetary Fund

Published: 2021-09-24

Total Pages: 103

ISBN-13: 1513594222

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This departmental paper provides an in-depth overview of access to climate finance for Pacific Island Countries, evaluating successes and challenges faced by countries and proposes a way forward to unlock access to climate funds.


Kiribati

Kiribati

Author: International Monetary Fund. Asia and Pacific Dept

Publisher: International Monetary Fund

Published: 2019-01-24

Total Pages: 58

ISBN-13: 1484396138

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Growth has been strong in recent years and some moderation is expected, with risks skewed to the downside. High fishing revenues improved the fiscal position, but generated pressure to increase spending. There has been progress on fiscal and structural reforms. Yet, public spending needs are large, driven by an infrastructure gap and climate adaptation costs, and the country remains at high risk of debt distress.