Republic of the Marshall Islands Country Economic Memorandum and Public Expenditure Review : Maximizing Opportunities, Enhancing Sustainability
This joint Country Economic Memorandum (CEM) and Public Expenditure Review (PER) aims to support the Government of the Republic of the Marshall Islands (GoRMI) to identify a prioritized and sequenced set of reforms to drive increased economic growt...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/en/246541628631954712/Republic-of-the-Marshall-Islands-Country-Economic-Memorandum-and-Public-Expenditure-Review-Maximizing-Opportunities-Enhancing-Sustainability http://hdl.handle.net/10986/36124 |
| Summary: | This joint Country Economic Memorandum
(CEM) and Public Expenditure Review (PER) aims to support
the Government of the Republic of the Marshall Islands
(GoRMI) to identify a prioritized and sequenced set of
reforms to drive increased economic growth, resilience, and
fiscal sustainability. The study has two objectives. First,
to improve understanding of the challenges, opportunities,
and risks to achieving sustainable economic growth and job
creation in the Republic of the Marshall Islands (RMI).
Second, to improve the management of public resources to
support long-term economic development, fiscal
sustainability, and service delivery. The assessment aims to
balance the need for reform to drive higher prosperity and
resilience with GoRMI’s limited capacity to design and
implement reforms and provide public goods and services. The
reform priorities identified are also consistent with the
RMI’s National Strategic Plan 2020-30, which articulates the
nation’s vision to build a resilient, productive, and
self-supportive RMI. This Executive Summary is structured in
three sections. The first section provides a brief
background to RMI and the structure of the economy. The
second section summarizes the key issues and challenges to
achieving GoRMI’s long-term development objectives under
five themes: (i) the management of public finances; (ii)
public service delivery; (iii) the fisheries sector; (iv)
the labor market and labor mobility; and (v) disaster
resilience and climate change. The final section outlines
key recommendations under the same five themes. |
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