Public debt expected to fall in most Pacific countries -World Bank

Public debt in most Pacific countries is expected to fall in the next 12 months as countries move towards the gradual unwinding of COVID-19 stimulus and the fiscal situation improves, according to a World Bank report released on Tuesday. “In line with fiscal consolidation efforts, public debt is projected to decline during 2023- 2024 across the Pacific (except in Solomon Islands and Federated States of Micronesia),” the Pacific Economic Update said on Tuesday. This was particularly notable in tourist- dependent countries such as Fiji, Palau and Vanuatu.

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