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15 Sep 2023
Nauru: Staff Concluding Statement of the 2023 Article IV Mission
Nauru’s external position was moderately weaker than the level implied by fundamentals and desirable policies in FY2022. Rising imports, driven by the high transportation costs, led to a current account balance (CAB) of -0.5 percent of GDP in FY2022. The reserve coverage is equivalent to 3.5 months of imports in FY2022, above the reserve adequacy ratio of 2.8 months, but it is expected to decline over the medium term.
