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Cover IMF Staff Country Reports
Samoa: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Samoa
International Monetary Fund. Asia and Pacific Dept
This paper discusses Samoa’s Request for Disbursement Under the Rapid Credit Facility. Samoa has shown resilience to multiple past economic shocks, underpinned by the authorities’ strong commitment to support the economy, and financial assistance provided by the international community. The global coronavirus disease 2019 pandemic has exacerbated the impact of the measles outbreak of late-2019 on Samoa’s economy. The border closure, combined with a sudden stop of tourist arrivals and decline in remittances, has led to a precipitous fall in two vital sources of foreign earnings and resulted in an urgent balance of payments need. Beyond the immediate response, the authorities will continue to implement structural reforms, with policies appropriately balanced between safeguarding debt sustainability and promoting economic growth. They also need to continue their efforts to enhance spending efficiency, strengthen social protection programs and safety nets, further improve tax administration, strengthen public financial management, and safeguard financial stability. Addressing vulnerability to climate change remains a key medium-term challenge to create a fiscal buffer.
Keywords:
ISCR; CR; remittance inflow; IMF financing support; fund Support; response package; Samoan authorities; IMF disbursement; Credit; COVID-19; Balance of payments need; Loans; Global; Australia and New Zealand
Cover IMF Staff Country Reports
Statement by Mr. Nigel Ray, Executive Director, and Mr. Tui Siliva, Advisor to the Executive Director, on Samoa April 24, 2020
International Monetary Fund. Asia and Pacific Dept

implementation of planned economic and fiscal measures. Policy Response to COVID-19 The authorities are fully committed to protecting Samoan citizens, providing necessary support to vulnerable businesses and households, and maintaining macroeconomic stability. To this end, Samoa was an early mover in restricting inbound travel and mobilized resources to begin health screening at borders. On April 7, Parliament passed the Government’s response package and the Second Supplementary appropriation of SAT$66.3 million (about 3 percent of GDP), to bolster health spending

Keywords:
ISCR; CR; remittance inflow; IMF financing support; fund Support; response package; Samoan authorities; IMF disbursement; Credit; COVID-19; Balance of payments need; Loans; Global; Australia and New Zealand; initiatives on public financial management; fund assistance; Balance of payments assistance
Cover IMF Staff Country Reports
Front Matter
International Monetary Fund. Asia and Pacific Dept
Keywords:
ISCR; CR; remittance inflow; IMF financing support; fund Support; response package; Samoan authorities; IMF disbursement; Credit; COVID-19; Balance of payments need; Loans; Global; Australia and New Zealand
Cover IMF Staff Country Reports
IMF Executive Board Approves a US$22.03 Million Disbursement to Samoa to Address the Covid-19 Pandemic
International Monetary Fund. Asia and Pacific Dept

Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Samoa

Keywords:
ISCR; CR; remittance inflow; IMF financing support; fund Support; response package; Samoan authorities; IMF disbursement; Credit; COVID-19; Balance of payments need; Loans; Global; Australia and New Zealand; balance of payments gap; Executive Board discussion; urgent balance of payments; IMF emergency support; U.S. dollar