TY - BOOK ID - 136603208 TI - Republic of the Marshall Islands: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands. PY - 2021 SN - 1513582976 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Marshall Islands, Republic of the KW - Money and Monetary Policy KW - International Economics KW - Public Finance KW - Exports and Imports KW - Diseases: Contagious KW - Statistics KW - Natural Disasters KW - Monetary Policy KW - International Agreements and Observance KW - International Organizations KW - International Lending and Debt Problems KW - Debt KW - Debt Management KW - Sovereign Debt KW - National Government Expenditures and Related Policies: General KW - Health Behavior KW - Climate KW - Natural Disasters and Their Management KW - Global Warming KW - Monetary economics KW - International institutions KW - Public finance & taxation KW - International economics KW - Infectious & contagious diseases KW - Econometrics & economic statistics KW - Natural disasters KW - Monetary policy KW - International organization KW - Public debt KW - External debt KW - COVID-19 KW - Health KW - Environment KW - Debt sustainability analysis KW - International agencies KW - Debts, External KW - Debts, Public KW - Fiscal policy KW - Communicable diseases UR - https://www.unicat.be/uniCat?func=search&query=sysid:136603208 AB - Strong and timely containment measures have successfully prevented a domestic COVID-19 outbreak but have also weighed on economic activity. The real GDP is estimated to have contracted by 3.3 percent in FY2020 and is projected to further decline by another 1.5 percent in FY 2021 due to continued travel restrictions. Economic activity is expected to pick up in FY2022, as COVID-related restrictions will be relaxed gradually. The government is currently negotiating the renewal of Compact of Free Association (COFA) financial provisions with the United States, but terms remain uncertain. The government is considering to repeal the SOV Act and a bill on establishing a Digital Economic Zone was submitted to the Parliament recently. ER -