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International Monetary Fund. Asia and Pacific Dept
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).
International Monetary Fund. Asia and Pacific Dept

abroad by the parent bank and most of the associated financial infrastructure is not physically located in Nauru. Agency staff are accredited financial service providers and must abide by requirements of the licensing regime in the parent jurisdiction. Australian regulators supervise the operations of the agency. In addition, the government has put in place AML legislation and is looking forward to the outcome of the APG-FATAF mutual evaluation. In its previous assessment, the group noted that Nauru faces low risks of money laundering and terrorist financing. The