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The Central Bank of Samoa is the nation's reserve bank and, as such, it acts as a bank to the Government and the commercial banks.
What's NewUN Digital Finance Task Force Release Report "People's Money: Harnessing Digitalization to Finance a Sustainable Future"The UN Secretary General in December 2018 established the Digital Financing Task Force to recommend and catalyse ways to harness digitalization in accelerating financing of the SDGs. On the 26th August 2020 (NY time), the Task Force report “People’s Money: Harnessing Digitalization to Finance a Sustainable Future” was officially launched. Read more »Micro, Small and Medium-sized Enterprises (MSME) workshop detailsThe Central Bank of Samoa (CBS) in partnership with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the United Nations Capital Development Fund (UNCDF), will be co-hosting a workshop on the 18th Aug 2020, at the Lava Hotel to launch and discuss the report on Micro, Small and Medium-sized Enterprises (MSME) Access to Finance in Samoa. This report is the culmination of an assessment conducted by Mr. John Harding which was initiated in late 2019. Due to the COVID-19 global pandemic the opportunity to conduct a further assessment on MSME impacts from the COVID-19 pandemic was also undertaken. As such, an additional COVID-19 supplementary report and recommendations was commissioned and will also be released and discussed at the workshop. Both reports will be available on the CBS and ESCAP websites following the workshop. These studies were undertaken with financial support from the Government of Canada, through Global Affairs Canada. Read more »Economic Consequences of Covid-19: The outlook so farIn these extraordinary times as the loss of lives from the Coronavirus (Covid-19) pandemic continues to rise globally, the necessary measures undertaken to protect human lives and contain the further widespread of this greatest health crisis of our time, will also have a severe impact on the global economy. According to the International Monetary Fund’s latest World Economic Outlook (WEO) released on 16 April 2020, the world economy is predicted to contract sharply by -3.0 percent in 2020, a major downward revision from the 3.3 percent real growth for 2020 that was projected in their January 2020 WEO Update. This notable turnaround reflects the immediate impact of weakened global demand and the adverse effects of the Covid-19 pandemic on the global economy as various containment measures and subsequent disruptions to international travel and trade were implemented in February and March. Read more » |
key statisticsAugust 2020
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