Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Cook Islands 05B 05B - 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 05B 05B - 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).

April 22, 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 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 05B 05B - Income support FJD
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
Kiribati 05B 05B - Income support AUD
Kiribati 09 09 - International Assistance Provided AUD
Kiribati 09A 09A - Swaps AUD
Kiribati 09B 09B - International loans/grants AUD
Kiribati 11 11 - Other Economic Measures AUD
Marshall Islands 05B 05B - Income support USD Office of the President and Cabinet. https://rmigov.info/?p=792 (accessed 3 September 2020). Office of the President and Cabinet. https://rmigov.info/?p=853 (accessed 3 September 2020). Office of the President and Cabinet. https://rmigov.info/?p=926 (accessed 3 September 2020).

No amount/estimate: As of August 7, 23 local businesses received financial assistance under the Pandemic (COVID-19) Economic Relief Program (PCERP).

Marshall Islands 09 09 - International Assistance Provided USD
Marshall Islands 09A 09A - Swaps USD
Marshall Islands 09B 09B - International loans/grants USD
Marshall Islands 11 11 - Other Economic Measures USD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020).

April, Since U.S. dollar is the legal tender of Marshall Islands, there is no monetary measure and no exchange rate and BOP measures.

Nauru 05B 05B - Income support AUD 5,600,000 3,737,188 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 October 2020).

May: (i) Containment efforts have been sizable and expenditures on keeping the national airline and other state-owned enterprises (SOEs) afloat have been significant at about 5.5% of 2019 GDP. The immigration department estimates AUD5.1 million liquidity injections to Nauru Airlines, and an estimated AUD0.5 million in budget support to SOEs in managing inventory from limited freight and cargo services; (ii) The government has also used its cash buffers for the repatriation of Nauruans abroad.

Nauru 09 09 - International Assistance Provided AUD
Nauru 09A 09A - Swaps AUD
Nauru 09B 09B - International loans/grants AUD
Nauru 11 11 - Other Economic Measures AUD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 October 2020).

April, The authorities have reprioritized expenditures and drawn down on cash buffers and general reserves to support the fiscal measures, including necessary medical expenditures.

Niue 05B 05B - Income support NZD
Niue 09 09 - International Assistance Provided NZD
Niue 09A 09A - Swaps NZD
Niue 09B 09B - International loans/grants NZD
Niue 11 11 - Other Economic Measures NZD
Palau 05B 05B - Income support USD 20,000,000 20,000,000 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 24 June 2020).

The government has also announced measures totaling USD20 million (8% of GDP) to mitigate economic and social hardship through targeted support to affected businesses and individuals. These include a new unemployment benefit scheme, temporary subsidies for utility bills, a new temporary job creation scheme for public works, and a lending scheme for the private sector.

Palau 09 09 - International Assistance Provided USD
Palau 09A 09A - Swaps USD
Palau 09B 09B - International loans/grants USD
Palau 11 11 - Other Economic Measures USD
Papua New Guinea 05B 05B - Income support PGK 500,000,000 146,748,063 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 May 2020).

No amount/estimate: The government has asked the superannuation funds to allow members who have been laid off from work due to COVID-19 to access their savings. On April 8, Superfunds announced that its members whose employment was terminated by their employer as a result of COVID-19 will be entitled to a one-off payment of 20% of the member’s contribution (PGK500 million support from superannuation savings to employees affected by the economic slowdown).

Papua New Guinea 09 09 - International Assistance Provided PGK