Samoa: 2007 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion for Samoa

Volume/Issue: Volume 2007 Issue 185

Publication date: June 2007

ISBN: 9781451840742

$20.00

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , Industries - Hospitality Travel and Tourism , ISCR , CR , annex , regime , U , S , dollar , basket peg exchange rate regime , less developed country , credit growth , Samoan authorities , headline inflation , IMF staff estimate , Tourism , Imports , Credit , Pacific Islands

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Summary

Samoa has achieved a major economic transformation over the last decade and a half. This 2007 Article IV Consultation highlights that real per capita GDP in Samoa has increased by more than 3 percent per year on average, and external public debt has fallen below 40 percent of GDP. The external position benefited from the rapid growth of remittances and tourism receipts. Executive Directors have congratulated the authorities on Samoa’s impressive growth performance and economic transformation over the past decade, with Samoa now set to graduate from least developed country status.