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Republic of Palau: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper describes Palau’s fiscal challenges and policy options to achieve long-term fiscal sustainability. Palau relies heavily on compact grants, and without continued fiscal consolidation over the medium term, the fiscal position will become unsustainable after these grants expire in FY2024. The fiscal sustainability analysis uses an intertemporal budget constraint model to show that reducing the current deficit excluding grants by about 8 percentage points of GDP during FY2014–19 would ensure Palau’s long-term fiscal sustainability. The paper also discusses the role of tourism in Palau and identifies policy priorities to further promote this sector and sustain growth.

Suggested Citation

  • International Monetary Fund, 2014. "Republic of Palau: Selected Issues," IMF Staff Country Reports 2014/111, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2014/111
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    References listed on IDEAS

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    1. Hong Chen & Lanieta Rauqeuqe & Shiu Raj Singh & Yiqun Wu & Yongzheng Yang, 2019. "Pacific Island Countries: In Search of a Trade Strategy," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(12), pages 56-80, September.
    2. International Monetary Fund, 2006. "Republic of Palau: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2006/110, International Monetary Fund.
    3. David Harrison & Biman Prasad, 2013. "The Contribution Of Tourism To The Development Of Fiji And Other Pacific Island Countries," World Scientific Book Chapters, in: Clement A Tisdell (ed.), Handbook of Tourism Economics Analysis, New Applications and Case Studies, chapter 32, pages 741-761, World Scientific Publishing Co. Pte. Ltd..
    4. Ms. Nita Thacker & Mr. Sebastian Acevedo Mejia & Mr. Roberto Perrelli, 2012. "Caribbean Growth in an International Perspective: The Role of Tourism and Size," IMF Working Papers 2012/235, International Monetary Fund.
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