Republic of Nauru: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Nauru

2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Nauru

Volume/Issue: Volume 2022 Issue 028

Publication date: February 2022

ISBN: 9798400200304

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Topics covered in this book

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Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , TA GFS mission , Nauru agency , ESS TA mission , agency arrangement , authorities in Nauru , COVID-19 , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Pacific Islands , Australia and New Zealand , Global

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Summary

Early and decisive measures successfully prevented an outbreak of COVID-19 in Nauru, and as of January 2022 there have been no COVID-19 cases on the island. Strong pandemic policy measures supported the economy, which continued to expand in FY20 and FY21. Nauru’s remoteness and size constrain potential growth and it is severely exposed to the negative effects of climate change on sea levels and the ocean stock of tuna. Development challenges are exacerbated by limited capacity and a high incidence of non-communicable diseases (NCDs).