How Cooks turned around debt crisis

With their far-flung territories and distance from global economic hubs, the Pacific islands face significant hurdles in delivering social and infrastructure services to their people. Adding to this challenge are these countries’ narrow economic bases, which limit their ability to collect domestic revenues; their reliance on mostly imported inputs; and their vulnerability to disasters and extreme climate change, the impacts of which can drive up public spending.

With their far-flung territories and distance from global economic hubs, the Pacific islands face significant hurdles in delivering social and infrastructure services to their people. Adding to this challenge are these countries’ narrow economic bases, which limit their ability to collect domestic revenues; their reliance on mostly imported inputs; and their vulnerability to disasters and extreme climate change, the impacts of which can drive up public spending.