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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.

New zealand generalNew zealandMarshall islandsSolomon islandsRepublic of the marshall islandsMatthew lewisLucy craymerWorld bankFederated statesPacific economic updatePublic debtPacific countriesFederated states of micronesiaAcross the pacificSolomon islandsEpendent countries