May 2021

Post n°217
Published on 05/18/2021

Despite significant international financial support, low-income countries (LICs) are likely to be more affected by the crisis than advanced or emerging countries. Strengthening the IMF's financial safety net for LICs is in everyone's interest, in order to prevent these countries from becoming weak links in global risks, such as those related to health or climate change.

Chart 1: Average per capita GDP growth
Chart 1: Average per capita GDP growth Source: IMF (WEO, REO, April 2021)
Post n°216
Published on 05/12/2021

By Grâce Constant, Andréa Tran Van Hong and Marie Rouger 

In the face of the Covid-19 crisis, New Caledonia’s economy, which is highly dependent on nickel, is showing some resilience thanks to the buoyant global nickel market, while French Polynesia’s economy is being harder hit by the lockdown measures due to the high weight of tourism. The impact of the crisis is nonetheless being limited by non-market services, which are a key source of resilience in both territories.

Chart 1: Economic characteristics of the French overseas collectivities in the Pacific Ocean
Chart 1: Economic characteristics of the French overseas collectivities in the Pacific Ocean Source: Institut National de la Statistique et des Études Économiques (INSEE – French National Institute for Statistics and Economic Research).
Post n°215
Published on 05/07/2021

By Florian Bonnet, Hippolyte d’Albis and Aurélie Sotura

Over the past century, income disparities per adult between départements have been steadily decreasing. The low-income diagonal, which used to be very marked from the north-west to the south-east, has given way to a "low population density diagonal" which now runs from the north-east to the south-west.

Chart 1. Gini coefficient of income per adult between the 90 départments, 1922-2015
Chart 1. Gini coefficient of income per adult between the 90 départments, 1922-2015 Sources: tax records and authors' calculations
Post n°214
Published on 05/05/2021

By Mathilde Gerardin and Jean-François Ouvrard

In the Monthly Business Survey (MBS) carried out at the end of February/beginning of March 2021, business leaders were asked about the organisational costs associated with COVID and their ability to pass them on to their selling prices. These costs may be high for some sectors but their ability to pass them on to prices appears to be generally limited. Ultimately, the direct and indirect impact on the general level of consumer prices should therefore be small, between 0.1 and 0.3 percentage point, but these costs could affect the margins of some companies.

Chart 1: Direct impact on selling prices of the additional costs generated by the health measures
Chart 1: Direct impact on selling prices of the additional costs generated by the health measures Source: The Banque de France's monthly business survey