IMF Staff Country Reports

Papua New Guinea: 2010 Article IV Consultation: Staff Report and Public Information Notice

Publication Date:

June 10, 2010

Electronic Access:

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Summary:

This 2010 Article IV Consultation highlights that real activity in Papua New Guinea was relatively unaffected by the global downturn, with growth easing to roughly 5 percent in 2009 from 7 percent in 2008. A number of factors contributed to this favorable outcome. The country’s financial sector was insulated from the turmoil in global capital markets and domestic credit continued to grow, albeit at a slower pace than in the preceding few years. Export demand also held up, as stimulus measures in other Asian countries supported demand for commodities, the country’s main export.

Series:

Country Report No. 2010/164

Subject:

Banking Commodity prices Environment External debt Inflation Non-renewable resources Prices Public debt