Kiribati


Book Description

Kiribati comprises tiny islands scattered across a vast area of ocean with few natural resources and located in a challenging environment. This report provides an analysis of the Kiribati economy with particular reference to how the I-Kiribati have learned to live within the limited resources available to them.




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


Book Description

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


Book Description

This 2017 Article IV Consultation highlights that Fiji’s economy is recovering well after Tropical Cyclone Winston and is expected to record its eighth consecutive year of expansion in 2017. Growth is expected to pick up to about 4 percent in 2017, underpinned by reconstruction activities, a vibrant tourism sector, and the recovery of agriculture production. The growth momentum is projected to continue in the coming years. Inflation declined sharply in recent months as the supply of food items started to normalize and is projected to remain about 3 percent. Risks to the economic outlook are largely related to external developments.




Republic of Palau


Book Description

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.




Kiribati


Book Description

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.