Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Cook Islands 02 02 - Credit creation NZD
Cook Islands 02A 02A - Financial sector lending/funding NZD
Cook Islands 02B 02B - Support policies for long-term lending NZD
Cook Islands 02C 02C - Loan guarantees NZD
Cook Islands 05 05 - Health and income support NZD 61,000,000 36,902,601 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. Breakdown as follows: (i) NZD5 million, Ministry of Health; (ii) NZD2.3 million support for self-isolation; (iii) NZD2 million small capital works program; (iv) NZD12 million major capital projects; (v) NZD0.97 million unemployment benefit; (vi) NZD22.51 million wage subsidy; (vii) NZD1 million child benefit payment; (vii) NZD0.87 million one-off welfare payment; (viii) NZD50 thousand redeployment program; (ix) NZD3.36 million business grants; (x) NZD2.32 million indirect costs (tax relief, TAU,etc).

Cook Islands 05A 05A - Health support NZD
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 02 02 - Credit creation USD
Federated States of Micronesia 02A 02A - Financial sector lending/funding USD
Federated States of Micronesia 02B 02B - Support policies for long-term lending USD
Federated States of Micronesia 02C 02C - Loan guarantees USD
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 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 02 02 - Credit creation FJD 60,000,000 27,228,172
Fiji 02A 02A - Financial sector lending/funding FJD 60,000,000 27,228,172 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

The Reserve Bank of Fiji raised its Natural Disaster and Rehabilitation Facility to FJD60 million to include businesses affected by epidemics or pandemics, renaming it the Disaster Rehabilitation and Containment Facility.

Fiji 02B 02B - Support policies for long-term lending FJD International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

No amount/estimate: The Reserve Bank of Fiji reduced the overnight policy rate to 0.25% from 0.5% on March 18 to counter the economic impact of COVID-19.

Fiji 02C 02C - Loan guarantees FJD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

No amount/estimate: The Reserve Bank of Fiji expanded the SME Credit Guarantee Scheme to assist small entities.

Fiji 05 05 - Health and income support FJD 1,210,900,000 549,509,893 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 1 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).

(i) March 26, 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; and effective March 2020, No amount/estimate: (ii) Temporary elimination of import excise duty (from 15%) on ethanol for production of hand sanitizers; (iii) Temporary elimination of import fiscal duties on certain products like glove, masks, disposable hair nets, hospital beds, etc.; (iv) Temporary elimination of the VAT on imports of certain products like vaccines, pharmaceutical products, etc.; (v) Temporary increase of the import fiscal duties (by 0.2/L on fuel (diesel and petrol); (vi) June 4, Government expanded its unemployment assistance; (vii) July 17, 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. The budget also entails a total of FJD100 million for unemployment assistance and a subsidy to Fiji Airways of FJD60 million to incentivize first 150,000 tourists in new fiscal year; (viii) As of September 11, 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; (ix) As of October 1, The Government has introduced several additional allocations amounting FJD50.9 million for the development of the sugar sector. [update]

Fiji 05A 05A - Health support FJD
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 02 02 - Credit creation AUD
Kiribati 02A 02A - Financial sector lending/funding AUD
Kiribati 02B 02B - Support policies for long-term lending AUD
Kiribati 02C 02C - Loan guarantees AUD
Kiribati 05 05 - Health and income support AUD 32,900,000 21,955,980 Asian Development Bank. https://www.adb.org/sites/default/files/publication/622976/pem-july-2020.pdf (accessed 26 July 2020).

June, The Government of Kiribati mobilized its COVID-19 preparedness and response plan, valued at AUD32.9 million. The bulk of the funding will be for social and financial support (37.2%), health preparedness (36.2%), food security (12.4%), and education (9.2%). The remaining funds will support transportation, public awareness campaign, and small infrastructure works to refurbish isolation centers. Grants and subsidies are expected to be provided to businesses as well as state-owned enterprises to continue basic support services to the public. There will also be grants for unemployed I-Kiribati impacted by COVID-19, including seafarers, fisheries observers, fruit pickers, and casual workers in the construction and tourism industries.

Kiribati 05A 05A - Health support AUD
Kiribati 05B 05B - Income support AUD
Kiribati 09 09 - International Assistance Provided AUD
Kiribati 09A 09A - Swaps AUD