Samoa Economic Reform Program

The Samoa Economic Reform Program aims to support the Government of Samoa (GoS) fiscal consolidation as it recovers from the impacts of external shocks. It will also help to build Samoa's economic resilience against future shocks. In order to build economic resilience, a healthy and stable macroeconomic situation, strengthened Public Financial Management (PFM) systems and an open competitive private sector led economy are needed. This program will assist to achieve those requirements through the program centres on a Joint Policy Action Matrix (JPAM) which is a matrix of economic, structural and PFM reforms negotiated between officials from World Bank, Asian Development Bank, New Zealand, Australian and the GoS. Australia and other development partners then incentivise specific policy actions drawn from the JPAM. The program and initiative is an extension of an activity under Samoa Governance and Economic Stability Initiative (INJ406) but has been now set out as a separate initiative to improve performance reporting. The total value of this investment is $5.5 million over 5 years, starting 2012-13.