Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Federated States of Micronesia 01 01 - Liquidity Support USD
Federated States of Micronesia 01A 01A - Short-term lending USD
Federated States of Micronesia 01B 01B - Support policies for short-term lending USD
Federated States of Micronesia 01C 01C - Forex operations USD
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 02B1 02B1 - Interest rate adjustments USD
Federated States of Micronesia 02B2 02B2 - Other policies to support long-term lending USD
Federated States of Micronesia 02C 02C - Loan guarantees USD
Federated States of Micronesia 03 03 - Direct long-term lending USD
Federated States of Micronesia 03A 03A - Long-term lending USD
Federated States of Micronesia 03B 03B - Forbearance USD
Federated States of Micronesia 04 04 - Equity support 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
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 06 06 - Budget reallocation USD
Federated States of Micronesia 07 07 - Central bank financing government USD
Federated States of Micronesia 07A 07A - Direct lending and reserve drawdown USD
Federated States of Micronesia 07B 07B - Secondary purchase: government securities USD
Federated States of Micronesia 08 08 - International Assistance Received USD 47,764,600 47,764,600
Federated States of Micronesia 08A 08A - Swaps USD
Federated States of Micronesia 08B 08B - International loans/grants USD 47,764,600 47,764,600
Federated States of Micronesia 08B1 08B1 - Asian Development Bank USD 28,940,000 28,940,000 ADB. Table A1.2: Sovereign Lending and Asian Development Fund Grant Operations (as of 12 December 2020); ADB. Table A1.4: Asia Pacific Disaster Response Fund and Technical Assistance (as of 9 January 2021) ADB. Table A1.5: Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases (as of 17 July 2020).

(i) 31 March 2020, USD0.47 million under the COVID-19 Emergency Response; (ii) 8 April 2020, USD0.47 million under the TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Disease; [update as of July 17]; (iii) 15 April 2020, USD0.02 million technical assistance under Strengthening Social Protection in the Pacific ; (iv) 17 April 2020, USD6 million under the Pacific Disaster Resilience Program (Phase 2); (v) 24 April 2020, USD0.13 million technical assitance under Developing the Pacific Health Sector (Additional Financing); (vi) 5 June 2020, USD0.14 million technical assistance under Pacific Economic Management (Additional Financing); (vii) 29 July 2020, USD1.03 million under COVID-19 Emergency Response; (viii) 10 August 2020, USD0.35 million under Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific; (ix) 12 August 2020, USD0.23 million technical assitance under "Support for gender sensitive responses to COVID-19 in the Pacific Developing Member Countries; (x) 12 November 2020, USD14 million CPRO "Health Expenditure and Livelihood Support Program"; (xi) 11 December 2020, USD6 million Pacific Disaster Resilience Program (Phase 3); (xii) 17 December 2020, USD0.10 million technical assistance under "Supporting MSMEs in the Pacific from the Effects of COVID-19 Pandemic".

Federated States of Micronesia 08B2 08B2 - Other USD 18,824,600 18,824,600 The National Government of the Federated States of Micronesia. https://gov.fm/index.php/component/content/article/35-pio-articles/news-and-updates/308-president-panuelo-vice-president-george-receive-ambassador-cantor-7-700-000-via-an-act-demonstrating-that-the-united-states-cares-for-the-fsm-us-enduring-partnership?Itemid=177 (accessed 20 April 2020); US Embassy in Georgia. https://ge.usembassy.gov/the-united-states-is-assisting-pacific-island-countries-to-respond-to-covid-19-april-22/ (accessed 27 May 2020). United Nations MPTF. http://mptf.undp.org/factsheet/project/00121529 (accessed 29 May 2020). US Federal Aviation Administration. https://www.faa.gov/airports/aip/2020_aip_grants/media/FY20-AIP-Grants-Announced.pdf (accesed 18 September 2020).

(i) 27 March 2020, USD7.7 million supplemental funding signed by Trump under the CARES Act through the US DOI Office of Insular Affairs’ Technical Assistance Program; (ii) 30 March 2020, USD27.6 thousand awarded by US HHS Office of the Assistant Secretary for Preparedness and Response (iii) 1 April 2020, USD1.26 million allocated by US Department of Health and Human Services; (iv) 8 April 2020, USD3.11 million awared by US HHS Health Resources and Services Administration to to support 5 health center grantees in Chuuk (1), Kosrae (2), Pohnpei (1), and Yap (1); (v) 14 April 2020, the Honorable Livingston A. Taulung, Secretary of the Federated States of Micronesia’s (FSM) Department of Health & Social Affairs and Chair of the COVID-19 Task Force, received His Excellency Huang Zheng, Ambassador of the People’s Republic of China (China) in a handover ceremony wherein the Ambassador presented, on behalf of the people and Government of China, medical supplies and a cash donation of USD100,000 to assist the FSM in combatting the COVID-19 Pandemic; (iv) April 2020, The Joint Economic Management Committee, comprised of U.S. and Micronesian government representatives, approved USD1.65 million for Yap and USD1.40 million for Chuuk in prior-year unallocated Compact sector grant funding to be used for health-related COVID-19 preparedness and planning. For Kosrae, USD1.2 million in Compact infrastructure sector grant assistance was approved for construction of a 24-unit COVID quarantine facility. In addition, USD417 thousand in prior-year Compact Infrastructure Maintenance Fund assistance has been provided to Chuuk to assist with hospital infrastructure preparedness; (v) 13 May 2020, USD300,000 from UN COVID-19 Response & Recovery Fund to Support COVID-19 Contingency Plan for Federated States of Micronesia; (iv) 1 September 2020, USD1.66 million Airport Improvement Program from the US Federal Aviation Administration.

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 10 10 - No breakdown 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.

Federated States of Micronesia 12 12 - Non-Economic Measures USD
Federated States of Micronesia 12A 12A - Measures affecting travel and transport (local and international) USD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

(ii) The national and state governments have introduced travel restrictions; banning or requiring 14-day self-quarantine prior to entry into the Federated States of Micronesia; and restricting residents from traveling abroad; (i) November 30, relaxed outward travel restrictions, allowing residents to travel abroad.

Federated States of Micronesia 12B 12B - Measures affecting business and workplace USD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

The state of Chuuk closed schools.

Federated States of Micronesia 12C 12C - Others USD