Search Results

You are looking at 1 - 10 of 10 items for :

  • "long-term climate action plan" x
Clear All
International Monetary Fund. Asia and Pacific Dept
This 2019 Article IV Consultation with the Republic of Fiji highlights that economic activity slowed sharply in 2019 due to lower government spending, tighter domestic financial conditions, weak sentiment, and the global deceleration. The slowdown followed several years of relatively strong growth, boosted by reconstruction spending after a major cyclone in 2016, which resulted in rising external and fiscal imbalances. Fiscal space is now at risk and external vulnerabilities remain significant. Fiji has large investment needs to strengthen resilience to natural disasters and climate change. A key priority should be to rebuild fiscal buffers in a growth-friendly way to create space to respond to future natural disasters and to ensure public debt sustainability. Fiscal consolidation should focus on reining in current spending given limited scope for further revenue mobilization and the need for capital spending to improve resilience to climate change. Improvements in the business environment and in governance are essential to raise potential growth and boost private investment, and to enhance productivity and competitiveness.
International Monetary Fund. Asia and Pacific Dept

domestic and foreign investment and improve productivity and competitiveness. Tackling the gender gap in labor force participation in order to boost growth and make it more inclusive will remain a key priority. On improving data quality to better guide policy making, the authorities plan to publish quarterly national accounts and report fiscal outcomes according to the GFS 2014 standards in 2020, with support from the Pacific Financial Technical Assistance Center (PFTAC). On climate change, the authorities have submitted Fiji’s long-term climate action plan under the

International Monetary Fund. Western Hemisphere Dept.
On March 1, 2021, the IMF Executive Board approved a 36-month arrangement under the Extended Fund Facility (EFF) with access of SDR 1.23749 billion (335 percent of quota, equivalent to US$1.778 billion) to support the country’s response to the pandemic and its reform efforts toward strong, inclusive, and sustainable growth. The authorities’ proactive response to the COVID-19 crisis, combined with sustained export performance, have supported a robust recovery. The outlook remains subject to downside risks, amid tighter global financial conditions, higher commodity prices, and the threat of new COVID variants.
International Monetary Fund. Western Hemisphere Dept.

line ministries, by end-June 2022. The Secretariat will also implement, coordinate, and operate the National Climate Change Metrics System (SINAMECC) to facilitate compliance with the Plan’s reporting requirements and access to information to measure the progress in meeting the revised nationally determined contributions (NDCs). Moreover, we will set up the National Ambition Cycle aimed at establishing a data-driven, highly inclusive process to update NDCs and long-term climate action plans including the National Decarbonization Plan. The National Ambition Cycle

International Monetary Fund. Western Hemisphere Dept.
The new administration, which came into office in May 2022, has had to confront the aftermath of a cyberattack on several government systems as well as the impact of the commodity price shock, slowing trading partner growth, and tightening financial conditions. After a strong rebound in 2021, these global headwinds are weighing on activity. Meanwhile, as elsewhere, inflationary pressures are elevated.
International Monetary Fund. Western Hemisphere Dept.

Country Program (PPCN 2.0), which supports the country’s mitigation efforts by providing a mechanism for the voluntary adequate management of greenhouse gas emissions for public and private organizations. Moreover, we will establish a data-driven, highly inclusive process to update NDCs and long-term climate action plans including the new National Development Plan for the environmental sector, which was launched in October 2022. MINAE, through the Secretariat of Planning’s Environmental Sector ( Secretaria de Planificacion del Sector Ambiente (SEPLASA)) is coordinating