PublicDisclosureAuthorizedPublicDisclosureAuthorizedPublicDisclosureAuthorizedPublicDisclosureAuthorizedPacificEconomicUpdateBckonTrck?inEductionThImprtivofInvstinMrch2024ThePacificEconomicUpdateprovidesanalysisof11Pacificislandcountries(PIC-11):FederatedStatesofMicronesia(FSM),Fiji,Kiribati,MarshallIslands,Nauru,Palau,Samoa,SolomonIslands,Tonga,Tuvalu,andVanuatu.1ContentsExecutivesummary4Prefaceandacknowledgements7Acronyms8Listoffigures10Listoftables10Listofboxes10Part1:Economicoverview:SlowglobalrecoveryandenduringchallengesinthePacific111.1Globalandregionalcontext121.2Recenteconomicdevelopments161.2.1Growth161.2.2Inflation221.2.3Fiscalanddebtdynamics251.2.4Monetarypolicyandthefinancialsector271.2.5Externalsector281.3Pacificeconomicoutlook301.3.1Growthoutlook301.3.2Medium-termgrowthprospects351.3.3Inflation361.3.4Externalsector381.3.5Risks391.3.6Policyconsiderations41Part2:Investinginpeople:ThePacific’smostvaluableasset522.1Theregion’sbasiclearningdeficit532.2Betterteachingisneededtoimprovestudentlearning552.2.1Someeducationsystemsarestrugglingtoattractenoughteachers562.2.2Manyteachersarenotusingeffectiveteachingpracticesandakeyunknowniswhether56teachersmasterthecontenttheyareteaching2.2.3Teacherbehavioroftendoesnotsupportlearning592.2.4Morethanhalfofteachersexpectedtobeemployedin2035havealreadybeenrecrui...
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