Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Cook Islands 05 05 - Health and income support NZD 61,380,000 37,132,486 Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).

The Government’s COVID-19 Economic Response Plan with a total value of NZD61 million has three objectives. The first is to stimulate demand through support to local business to ensure that the economy is able to continue to operate, even at a reduced level, during this period of extreme uncertainty surrounding COVID-19. The second is to support the livelihoods of those that are likely to be most affected by the economic fallout, including those required to self-isolate, those that lose their jobs and the elderly and infirm. The third objective is to achieve the first two objectives in a fiscally responsible manner that does not undermine the Government’s ability to undertake further fiscal intervention over the longer-term, should that prove necessary.

Cook Islands 05A 05A - Health support NZD 7,300,000 4,416,213

(i) NZD5 million, Ministry of Health; (ii) NZD2.3 million support for self-isolation.

Cook Islands 05B 05B - Income support NZD 54,080,000 32,716,273
Cook Islands 05B1 05B1 - Tax and contribution deferrals and policy changes NZD
Cook Islands 05B2 05B2 - Tax and contribution rates reduction NZD
Cook Islands 05B3 05B3 - Subsidies to individuals and households NZD 25,400,000 15,366,001 Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).

(iv) NZD0.97 million unemployment benefit; (ii) NZD22.51 million wage subsidy; (iii) NZD1 million child benefit payment; (iv) NZD0.87 million one-off welfare payment; (v) NZD50 thousand redeployment program.

Cook Islands 05B4 05B4 - Subsidies to businesses NZD 3,360,000 2,032,668 Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).

(i) NZD3.36 million business grants.

Cook Islands 05B5 05B5 - Indirect income support NZD 14,000,000 8,469,449 Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).

(i) NZD2 million small capital works program; (ii) NZD12 million major capital projects.

Cook Islands 05B6 05B6 - No breakdown (income support) NZD 11,320,000 6,848,155 Ministry of Finance and Economic Management. http://www.mfem.gov.ck/images/MFEM_Documents/COVID-19/Cook_Islands_Economic_Response_to_COVID-19.pdf (accessed 13 April 2020).

NZD11.32 million indirect costs (tax relief, TAU,etc).

Cook Islands 05C 05C - No breakdown (health and income support) NZD
Cook Islands 09 09 - International Assistance Provided NZD
Cook Islands 09A 09A - Swaps NZD
Cook Islands 09B 09B - International loans/grants NZD
Cook Islands 11 11 - Other Economic Measures NZD
Federated States of Micronesia 05 05 - Health and income support USD 35,000,000 35,000,000
Federated States of Micronesia 05A 05A - Health support USD 20,000,000 20,000,000 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

To address the emergency caused by COVID-19, the national government has prepared a USD20 million (or about 5% of GDP) COVID-19 Response Framework, in order to develop quarantine and isolation facilities across the nation, provide mandatory infection control training for all first responders, and increase testing capacity and ventilators for each island state in the Federated States of Micronesia.

Federated States of Micronesia 05B 05B - Income support USD 15,000,000 15,000,000
Federated States of Micronesia 05B1 05B1 - Tax and contribution deferrals and policy changes USD
Federated States of Micronesia 05B2 05B2 - Tax and contribution rates reduction USD
Federated States of Micronesia 05B3 05B3 - Subsidies to individuals and households USD
Federated States of Micronesia 05B4 05B4 - Subsidies to businesses USD
Federated States of Micronesia 05B5 05B5 - Indirect income support USD
Federated States of Micronesia 05B6 05B6 - No breakdown (income support) USD 15,000,000 15,000,000 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

22 April 2020, The government approved the economic stimulus package of USD15 million (about 3.8% of GDP). The package includes measures to support affected businesses, including wage subsidies, debt relief, as well as social security tax and other tax rebates.

Federated States of Micronesia 05C 05C - No breakdown (health and income support) USD
Federated States of Micronesia 09 09 - International Assistance Provided USD
Federated States of Micronesia 09A 09A - Swaps USD
Federated States of Micronesia 09B 09B - International loans/grants USD
Federated States of Micronesia 11 11 - Other Economic Measures USD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

(i) No monetary policy response. With the U.S. dollar its legal tender, the FSM does not have a central bank; and (ii) No exchange rate policy response, given that U.S. dollar is the legal tender of the FSM.

Fiji 05 05 - Health and income support FJD 1,210,900,000 549,509,893
Fiji 05A 05A - Health support FJD WTO. https://www.wto.org/english/tratop_e/covid19_e/trade_related_goods_measure_e.htm (accessed 1 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 October 2020).

Effective March 2020, No amount/estimate: (i) Temporary elimination of import excise duty (from 15%) on ethanol for production of hand sanitizers; (ii) Temporary elimination of import fiscal duties on certain products like glove, masks, disposable hair nets, hospital beds, etc.; (iii) Temporary elimination of the VAT on imports of certain products like vaccines, pharmaceutical products, etc.;

Fiji 05B 05B - Income support FJD 210,900,000 95,707,025
Fiji 05B1 05B1 - Tax and contribution deferrals and policy changes FJD
Fiji 05B2 05B2 - Tax and contribution rates reduction FJD WTO. https://www.wto.org/english/tratop_e/covid19_e/trade_related_goods_measure_e.htm (accessed 1 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 October 2020).

(i) No amount/estimate: Temporary increase of the import fiscal duties (by 0.2/L on fuel (diesel and petrol) effective March 2020; (ii) 17 July 2020, a second fiscal package was announced as part of the FY2020-21 budget for the fiscal year beginning in August, consisting of sizeable tax and tariff cuts. Other measures of this package can be found in 5B3 and 5B4.

Fiji 05B3 05B3 - Subsidies to individuals and households FJD 100,000,000 45,380,287 RNZ. https://www.rnz.co.nz/international/pacific-news/427654/fiji-govt-assures-hotel-staff-of-covid-19-benefits (accessed 8 October 2020); Fiji Village. https://www.fijivillage.com/news/Ministry-working-to-avail-funds-to-help-additional-number-of-Fijians-requiring-social-welfare-assistance-54xrf8/ (accessed 11 September 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 October 2020).

(i) 4 June 2020, The Government expanded its unemployment assistance; (ii) 17 July 2020, The aforementioned budget in 5B2 also entails a total of FJD100 million for unemployment assistance; (iii) As of 11 September 2020, the Permanent Secretary for Poverty Alleviation of the Ministry of Women, Children and Poverty Alleviation is working to avail funds to help additional number of Fijians requiring social welfare assistance after the effects of COVID-19; (iv) 5 October 2020, regarding the 26 March 2020 supplementary budget, the Government reassured workers from parts of the economy (such as tourism) that have since opened up that they can report for work and receive aid on top of their salaries; (v) As of 8 October 2020, Authorities also announced a new hiring subsidy program under which the government will pay the minimum wage of FJD2.68 per hour and the remainder will be paid by the employers.

Fiji 05B4 05B4 - Subsidies to businesses FJD 110,900,000 50,326,738 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 October 2020).

(i) 17 July 2020, The aforementioned budget in 5B2 also entails a subsidy to Fiji Airways of FJD60 million to incentivize first 150,000 tourists in new fiscal year; (ii) As of 1 October 2020, The Government has introduced several additional allocations amounting FJD50.9 million for the development of the sugar sector.

Fiji 05B5 05B5 - Indirect income support FJD
Fiji 05B6 05B6 - No breakdown (income support) FJD
Fiji 05C 05C - No breakdown (health and income support) FJD 1,000,000,000 453,802,868 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 October 2020).

(i) 26 March 2020, A supplementary budget (FJD1 billion) was announced in response to the COVID-19 pandemic. Supplemental expenditures on public health, lump sum payments through the Fiji National Provident Fund (FNPF), tax and tariff reductions, and loan repayment holidays aimed at protecting public health, supporting the economy, and ensuring food security. An Agricultural Response Package to ensure food security has also been announced. It includes the scaling up of the existing Home Gardening program and a new Farm Support Package which aims at boosting the production of short-term crops through seeds and materials distribution.

Fiji 09 09 - International Assistance Provided FJD
Fiji 09A 09A - Swaps FJD
Fiji 09B 09B - International loans/grants FJD
Fiji 11 11 - Other Economic Measures FJD US Embassy in Fiji, Kiribati, Nauru, Tonga, and Tuvalu. https://fj.usembassy.gov/united-states-and-fiji-sign-trade-and-investment-framework-agreement/ (accessed 29 October 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 14 December 2020).

(i) 16 October 2020, The Fijian Government and the United States signed Trade and Investment Framework Agreement (TIFA), first of its kind with the United States to promote trade and investment ties between the two countries; (ii) 25 November 2020, Tourism Fiji held the first ever virtual Fijian Tourism Expo (FTE) to promote tourism and business activities in the country. The Expo is aimed at bringing together potential investors from Australia, New Zealand and leading industrialists in Fiji. [update]