Republic of the Marshall Islands: Staff Report for the 2011 Article IV Consultation

Download or read book Republic of the Marshall Islands: Staff Report for the 2011 Article IV Consultation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-12-02 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy of the Republic of the Marshall Islands has experienced a strong recovery with a 5.2 percent growth in 2010 following strong improvement in the fisheries sector and a moderate recovery in exports. The financial sector remained focused on consumer lending and contributed little to overall economic growth. Although the financial sector remained profitable, much of the rapid growth in credit has been in consumer loans. The authorities are monitoring high levels of household debt and intend to begin work on strengthening the regulatory framework.