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Pacific Island Countries in the Era of COVID-19 : Macroeconomic Impacts and Job Prospects (Английский)

Pacific Island Countries (PICs) face strong headwinds from the COVID-19 crisis, despite to date having experienced few cases of COVID-19 domestically. Unlike the Global Financial Crisis in 2008, this crisis is a combination of supply and demand shocks. Pandemic mitigation measures such as social distancing, lockdowns, school closures, and mobility restrictions have disrupted labor force participation and production while also denting consumption and investment. Technology-driven adaptation in both production and consumption, the timely reallocation of labor between sectors and regions, along with policy support, could moderate the effects of the shock. The seven PICs examined in this report – Fiji, Kiribati, Papua New Guinea (PNG), Samoa, Solomon Islands, Tonga, and Vanuatu, are expected to see significant declines in GDP growth in 2020.

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