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Mr. Serkan Arslanalp, Mr. Robin Koepke, and Jasper Verschuur
This paper proposes an easy-to-follow approach to track merchandise trade using vessel data and applies it to Pacific island countries. Pacific islands rely heavily on imports and maritime transport for trade. They are also highly vulnerable to climate change and natural disasters that pose risks to ports and supply chains. Using satellite-based vessel tracking data from the UN Global Platform, we construct daily indicators of port and trade activity for Pacific island countries. The algorithm significantly advances estimation techniques of previous studies, particularly by employing ways to overcome challenges with the estimation of cargo payloads, using detailed information on shipping liner schedules to validate port calls, and applying country-specific information to define port boundaries. The approach can complement and help fill gaps in official data, provide early warning signs of turning points in economic activity, and assist policymakers and international organizations to monitor and provide timely responses to shocks (e.g., COVID-19).
Vybhavi Balasundharam, Ms. Leni Hunter, Iulai Lavea, and Mr. Paul G Seeds

MANAGEMENT, DIAGNOSTIC TOOLS, AND POTENTIAL CAPACITY DEVELOPMENT A. Examples of Support Measures and Considerations for Use V. SUMMARY AND CONCLUSIONS BOX 1. Political Economy of National Airlines FIGURE 1. Analysis of government support TABLES 1. A Snapshot of PFM practices in PICs 2. Simplified SOE Health Check Tool ANNEXES I. Pacific Island Airlines – Country Experiences II. Scope for a regional airline: History in the PICs and example from the Caribbean III: Lessons from Airlines in the African Small Island States IV: PIC coverage in SOE

Mr. Marc G Quintyn

Supervision 1 Type of Activity Countries Supervisory structures, governance and operations, and regulatory frameworks encompassing all sectors Africa: Botswana, Malawi, Mauritius, Namibia, and Swaziland Asia: Sri Lanka Europe: Moldova Governance and operations, legal frameworks, and supervisory capacity Middle East : Sudan (MFI) Western Hemisphere : Trinidad and Tobago (all) Regulatory framework(s) Western Hemisphere : Peru (all), Europe : Bulgaria (I), Kosovo (I),), Moldova (all), and Serbia (I) Pacific Islands : Federated

Vybhavi Balasundharam, Ms. Leni Hunter, Iulai Lavea, and Mr. Paul G Seeds
Pacific island countries (PICs) rely on national airlines for connectivity, trade, and tourism. These airlines are being struck hard by COVID-19. Losses will weigh on public sector balance sheets and pose risks to economic recovery. With a backdrop of tight fiscal space and increasing government debt, losses in airlines are adding to fiscal risks in some PICs. This paper discusses tools to evaluate and manage the fiscal risks from national airlines in the Pacific. We present a snapshot of the current state of Public Financial Management (PFM) practices in PICs and detail the best practices. This exercise would illustrate the areas in which PICs have scope to improve their risk management with regard to national airlines. We then discuss the use of diagnostic tools and capacity development to enhance monitoring and risk management. Greater transparency and accountability in the airlines, combined with rigorous oversight, would be the first step towards improved financial management of national airlines.
Vybhavi Balasundharam, Ms. Leni Hunter, Iulai Lavea, and Mr. Paul G Seeds

Bank , 2005 , “ Air Transport Infrastructure: The roles of Public and Private Sectors ,” Infrastructure Economics and Finance Network ( Washington : World Bank ). Annex I. Pacific Island Airlines – Country Experiences Air Kiribati Ltd . According to financial statements, Air Kiribati was unprofitable from 2014 to 2017. The 2018 Article IV Staff Report also noted that Air Kiribati was not profitable and had been receiving government subsidies. The government purchased a Dash 8 aircraft in 2017 (costing roughly 3 percent of GDP), and in 2018 the Cabinet

Mr. Serkan Arslanalp, Mr. Robin Koepke, and Jasper Verschuur

.S. army base in the atoll. Annex Charts I. Pacific Island Countries: Port Calls, January 2019–February 2021 Annex Charts II. Pacific Island Countries: Import Volume, January 2019–February 2021 2 Throughout the paper, we use Pacific island countries, Pacific islands, and small island states in the Pacific, interchangeably. The group includes (with country codes in parenthesis): Fiji (FJI), Kiribati (KIR), Marshall Islands (MHL), Federated States of Micronesia (FSM), Nauru (NRU), Palau (PLW), Samoa (WSM), Solomon Islands (SLB

International Monetary Fund. Asia and Pacific Dept
This 2017 Article IV Consultation highlights that over recent years, Tonga has enjoyed robust growth and macroeconomic stability. Growth continued to be strong at 2.7 percent in FY2017 following 3.4 percent in FY2016, supported by construction, agriculture, tourism, strong remittances, and strong private credit growth. Inflation spiked in FY2017 because of a new import tax and an increase in domestic food prices. The country’s external position weakened slightly owing to construction-related imports, with reserves supported by strong remittances and donor aid. The outlook for the Tongan economy is favorable, despite external headwinds. Real GDP growth is projected at 3.4 percent in FY2018, driven by construction, agriculture, and tourism.
International Monetary Fund. External Relations Dept.
The Economics of Demographics provides a detailed look at how the biggest demographic upheaval in history is affecting global development. The issue explores demographic change and the effects of population aging from a variety of angles, including pensions, health care, financial markets, and migration, and looks specifically at the impact in Europe and Asia. Picture This looks at global demographic trends, while Back to Basics explains the concept of the demographic dividend. Country Focus spotlights Kazakhstan, while People in Economics profiles Nobel prize winner Robert Mundell. IMF Economic Counsellor Raghuram Rajan argues for further change in India's style of government in his column, Straight Talk.