|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||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||
(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||
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]