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International Monetary Fund. Asia and Pacific Dept
This 2017 Article IV Consultation highlights Nauru’s growth and a substantial improvement in government revenue in recent years thanks to processing of asylum seekers by the Australian Regional Processing Center (RPC), fishing license fees, and residual phosphate mining. In the near term, GDP growth is projected to be moderate at 4 percent in fiscal year 2017 (ending June 30) mainly due to a slowdown in phosphate exports and limited expansion of the RPC. The medium-term outlook is vulnerable to scaling down of the RPC following the expected transfer of refugees to other countries, which will produce a substantial decline in RPC revenue.
International Monetary Fund. Asia and Pacific Dept

Context and Pre-Pandemic Landscape 1. Nauru’s size and location pose challenges for economic growth and development . Nauru is a remote island nation in the Pacific, with a land area of about 21 square kilometers and a population of approximately 12,000 people in 2021. Its size and remoteness constrain potential growth and raise its reliance on food and fuel imports. The revenue base—comprising sales of fishing licenses, residual phosphate mining and, since FY2012, revenues associated with the Australian Regional Processing Center (RPC) for asylum seekers

International Monetary Fund. Asia and Pacific Dept

On March 24, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the first Article IV consultation 1 with Nauru after the country became the 189 th IMF member country in April 2016 (see Press Release No. 16/167 ). Nauru’s growth and government revenue have improved substantially in recent years owing to the Australian Regional Processing Center (RPC) to process asylum seekers, in addition to fishing license fees, and residual phosphate mining. In the near term, GDP growth is projected to moderate to 4 percent in FY2017 (ending June

International Monetary Fund. Asia and Pacific Dept

advice and ongoing support. The authorities look forward to continued close engagement with the IMF. Context : With a population of around 12,500, Nauru is the world’s smallest island nation and one of the most isolated countries in the world . Located in the Pacific Ocean, 42 kilometers south of the equator, Nauru is a significant distance from international markets. A coral reef surrounds the entire island, which is dotted with pinnacles. A rich deposit of phosphate was discovered in the early 1900s and phosphate mining has been a significant source of economic

International Monetary Fund. Asia and Pacific Dept

that Nauru’s economic performance has improved in recent years driven by the Australian Regional Processing Center (RPC) to process asylum seekers, revenues from fishing license fees, and residual phosphate mining. However, Nauru continues to face daunting challenges in sustaining growth and ensuring fiscal sustainability due its limited sources of growth and income. The country is also vulnerable to climate change, its antiquated infrastructure hampers trade and growth, and its health indicators are worse than peers due to the high incidence of non