Republic of the Marshall Islands : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update
The 2018 Debt Sustainability Analysis (DSA) assesses that the Republic of the Marshall Islands (RMI) remains at high risk of debt distress. The ratios of the present value (PV) of external public and publicly-guaranteed (PPG) debt to GDP and to exp...
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| Online Access: | http://documents.worldbank.org/curated/en/377321537338257776/Marshall-Islands-Joint-Bank-Fund-Debt-Sustainability-Analysis-2018-Update http://hdl.handle.net/10986/30529 |
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okr-10986-305292021-05-25T09:18:30Z Republic of the Marshall Islands : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update International Development Association International Monetary Fund EXTERNAL DEBT PUBLIC DEBT PUBLIC SECTOR DEBT DEBT SUSTAINABILITY PUBLIC GUATANTEES GRACE AND MATURITY PERIOD The 2018 Debt Sustainability Analysis (DSA) assesses that the Republic of the Marshall Islands (RMI) remains at high risk of debt distress. The ratios of the present value (PV) of external public and publicly-guaranteed (PPG) debt to GDP and to exports are currently just below their respective policy-dependent indicative thresholds. The PV of the PPG debt-to-GDP ratio is expected to decline slightly in the near term, but to start increasing and exceed its indicative threshold in the medium to long term. Stress tests confirm the vulnerability of the debt position to lending terms as well as macroeconomic shocks. Although the RMI does not currently face debt servicing risks, helped by government revenue from fishing licenses and a stable flow of funds from the U.S. Compact grants until FY2023, a lack of fiscal buffers after FY2023 and risks from contingent liabilities call for a fiscal reform strategy. Containing the risk of debt distress requires continuation of grants to support the country’s large development needs, and implementation of fiscal and structural reforms to promote fiscal sustainability and growth. 2018-10-09T18:38:45Z 2018-10-09T18:38:45Z 2018-08-10 Report http://documents.worldbank.org/curated/en/377321537338257776/Marshall-Islands-Joint-Bank-Fund-Debt-Sustainability-Analysis-2018-Update http://hdl.handle.net/10986/30529 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Debt and Creditworthiness Study East Asia and Pacific Marshall Islands |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English |
| topic |
EXTERNAL DEBT PUBLIC DEBT PUBLIC SECTOR DEBT DEBT SUSTAINABILITY PUBLIC GUATANTEES GRACE AND MATURITY PERIOD |
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EXTERNAL DEBT PUBLIC DEBT PUBLIC SECTOR DEBT DEBT SUSTAINABILITY PUBLIC GUATANTEES GRACE AND MATURITY PERIOD International Development Association International Monetary Fund Republic of the Marshall Islands : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update |
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East Asia and Pacific Marshall Islands |
| description |
The 2018 Debt Sustainability Analysis
(DSA) assesses that the Republic of the Marshall Islands
(RMI) remains at high risk of debt distress. The ratios of
the present value (PV) of external public and
publicly-guaranteed (PPG) debt to GDP and to exports are
currently just below their respective policy-dependent
indicative thresholds. The PV of the PPG debt-to-GDP ratio
is expected to decline slightly in the near term, but to
start increasing and exceed its indicative threshold in the
medium to long term. Stress tests confirm the vulnerability
of the debt position to lending terms as well as
macroeconomic shocks. Although the RMI does not currently
face debt servicing risks, helped by government revenue from
fishing licenses and a stable flow of funds from the U.S.
Compact grants until FY2023, a lack of fiscal buffers after
FY2023 and risks from contingent liabilities call for a
fiscal reform strategy. Containing the risk of debt distress
requires continuation of grants to support the country’s
large development needs, and implementation of fiscal and
structural reforms to promote fiscal sustainability and growth. |
| format |
Report |
| author |
International Development Association International Monetary Fund |
| author_facet |
International Development Association International Monetary Fund |
| author_sort |
International Development Association |
| title |
Republic of the Marshall Islands : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update |
| title_short |
Republic of the Marshall Islands : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update |
| title_full |
Republic of the Marshall Islands : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update |
| title_fullStr |
Republic of the Marshall Islands : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update |
| title_full_unstemmed |
Republic of the Marshall Islands : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update |
| title_sort |
republic of the marshall islands : joint bank-fund debt sustainability analysis, 2018 update |
| publisher |
World Bank, Washington, DC |
| publishDate |
2018 |
| url |
http://documents.worldbank.org/curated/en/377321537338257776/Marshall-Islands-Joint-Bank-Fund-Debt-Sustainability-Analysis-2018-Update http://hdl.handle.net/10986/30529 |
| _version_ |
1764472256796295168 |