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Asia and Pacific > Samoa

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Cover Technical Assistance Reports
Samoa: Technical Assistance Report-Central Bank Risk Management
International Monetary Fund. Monetary and Capital Markets Department
This report provides an overview of the assistance provided by the IMF to the Central Bank of Samoa on enhancing its risk management in line with international best practices for central banks.
Keywords:
Central banking; risk management; central bank governance; central bank independence; Samoa.; Board audit committee; enterprise risk management framework; IMF executive director; IMF's Monetary; CD recipient; risk management committee; Operational risk; Internal audit; Central bank risk management; Anti-money laundering and combating the financing of terrorism (AML/CFT); Auditing
Cover Policy Papers
Review of the Climate Macroeconomic Assessment Program Pilots
International Monetary Fund. Fiscal Affairs Dept. and International Monetary Fund. Strategy, Policy, & Review Department
This paper reviews the two Climate Macroeconomic Assessment Program (CMAP) pilots and proposes a way forward. It builds on the experience of the previous six Climate Change Policy Assessment (CCPA) pilots, and the recent rollout of the World Bank’s Country Climate and Development Report (CCDR). It also accounts for early experience with countries requesting support under the Fund’s Resilience and Sustainability Trust (RST). Based on the lessons from pilots and recent developments, staff proposes to streamline the CMAP to focus on the Fund’s comparative advantages in the areas of mitigation, PFM and macro-fiscal impact of climate change policies, provide a streamlined CMAP in exceptional circumstances, and expand more targeted CD in particular in support of RSF countries. This focused and tailored approach would benefit members as it is more agile, allows the Fund to serve more members within the same resource envelope and enhance synergies with other Fund products and the World Bank’s CCDR.
Keywords:
climate diagnostic assessment; resilience to climate change; climate risks; national climate strategies; mitigation; adaptation; PFM; disaster risk financing; macro-fiscal impact of climate change; CMAP; CCPA; CMAP pilot; climate policy ASSESSMENT tool; CMAP template; pilot country authorities; program pilot; Climate change; Climate policy; Climate finance; Global
Cover Policy Papers
Implementation Plan in Response to the Board-Endorsed Recommendations from the IEO Evaluation Report on IMF Engagement with Small Developing States
International Monetary Fund
This paper presents a Management Implementation Plan (MIP) with actions to take forward the Board-endorsed recommendations from the Independent Evaluation Office (IEO)’s report on IMF Engagement with Small Developing States (SDS). The actions in the MIP are broad in scope, touching on all modalities of the Fund’s engagement with SDS, and seek to be comprehensive, self-reinforcing, cost-effective, and designed to be adopted as a package. The MIP aims to support a targeted and effective recalibration of engagement with SDS; enhance IMF’s surveillance and capacity development in SDS members; strengthen the Fund’s lending engagement with SDS, in line with the applicable policy frameworks; and secure an effective, well-tailored and more continuous staff presence in SDS.
Keywords:
Capacity development; climate; lending; policy frameworks; training; small developing states; staffing; surveillance; SDS staff guidance note; SDS member; SDS-SGN update; presence in SDS; IMF's transparency policy; Climate change; Budget planning and preparation; Financial sector; Caribbean; Global; Central America
Cover IMF Staff Country Reports
Samoa: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Samoa
International Monetary Fund. Asia and Pacific Dept
This 2023 Article IV Consultation highlights that the Samoan economy has begun recovering after a three-year recession driven by the coronavirus disease 2019 (COVID-19) pandemic. A rebound in economic activity has followed the lifting of domestic COVID-19restrictions in July and the pickup in visitor inflows when borders reopened in August. Economic growth is projected to remain above trend in FY2024 and FY2025 as tourism inflows and the domestic economy normalize. Higher tourism receipts and resilient remittances are also projected to narrow the current account deficit. The central government has maintained surpluses despite the pandemic, helped by buoyant tax revenue—including due to improvements in tax administration—and grant inflows. Credit growth has slowed after accelerating early in the pandemic, with lending to businesses declining and modest growth in household borrowing driven by the lending of public financial institutions. Private sector advantage has increased in recent years, with financial system credit to the private sector reaching 94.6 percent of gross domestic product.
Keywords:
APG follow-up assessment; policy area; U.S. dollar; inflation development; development opportunity; Natural disasters; Stress testing; Credit; Global; Asia and Pacific; Australia and New Zealand; Pacific Islands