The impact of the Global Economic Crisis on the Pacific region

At a macroeconomic level, the Global Economic Crisis has had less impact on many Pacific countries than on most other developing countries across the world. However, this does not imply that Pacific country economies are performing well. Economic growth rates for most countries in the Pacific region are expected to be low for 2009 and 2010 and the majority of economies are likely to contract on a per capita basis in these years. Policymakers should look at how the traditional economy and support systems in Pacifi c countries could be supported and strengthened to ensure they continue to provide resilience in times of crisis. At the same time, other forms of social support should be considered to work alongside these traditional systems in cases where they are not meeting current needs, particularly the needs of women and young people.

Document type: