Papua New Guinea
Papua New Guinea

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2000-10-26

Total Pages: 55

ISBN-13: 1451831633

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Papua New Guinea showed satisfactory performance under the Stand-By Arrangement. Executive Directors commended the macroeconomic stabilization and structural reform, and emphasized the need to maintain fiscal and monetary stances. They appreciated the improved governance, transparency, and efficiency of the public sector, as indicated by the recent assessment of Papua New Guinea's observance of the code on fiscal transparency. They indicated the need to strengthen the technical and managerial capacity of the National Statistical Office, and noted the potential role of technical assistance in improving statistics.

Papua New Guinea
Papua New Guinea

Author: International Monetary Fund. Asia and Pacific Dept

Publisher: International Monetary Fund

Published: 2013-12-03

Total Pages: 68

ISBN-13: 1475556217

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This 2013 Article IV Consultation highlights that Papua New Guinea has achieved strong economic growth over the past decade, benefiting from high commodity prices, mineral investment inflows, sound macroeconomic policies, and financial sector stability. The current account deficit is expected to narrow sharply in 2013 as imports and income outflows decline with the winding down of liquefied natural gas project construction. The Bank of Papua New Guinea has kept the policy interest rate unchanged since early 2013 given weakening nonmineral sector demand, but has issued central bank bills and raised cash reserve requirements to absorb excess liquidity in the banking system.

Papua New Guinea
Papua New Guinea

Author: International Monetary Fund. Asia and Pacific Dept

Publisher: International Monetary Fund

Published: 2023-03-29

Total Pages: 102

ISBN-13:

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Papua New Guinea (PNG) is a fragile state, vulnerable to natural disasters and terms of trade shocks. Low commodity prices in 2014-20, a severe drought in 2015-16, and a major earthquake in 2018 softened growth, led to shortages of FX, and contributed to a pre-pandemic build-up of public debt. The pandemic further increased public debt, which is now at high risk of distress, while development needs remain considerable.