Papua New Guinea: 2005 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea
IMF Staff Country Reports, March 13, 2006
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- Canonical URL
- Papua New Guinea: 2005 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea
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Bibliographic details
- Published: March 13, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451831702.002
Economic performance and outlook
- The economy "continues to perform well" as "the recovery maintains its momentum."
- Mining and petroleum revenue remain strong, supporting overall fiscal outcomes.
- The central government budget "has been estimated to be once more in surplus in 2005."
Fiscal policy and public debt
- Authorities "adhere to disciplined fiscal ... policies."
- Overall expenditure is "kept in check," contributing to fiscal consolidation.
- The fiscal stance and strong resource revenues have resulted in "a further reduction in public sector debt."
Monetary policy and financial conditions
- Monetary policy "has achieved a favorable combination of relatively low interest rates and inflation."
- The policy mix supports stable macroeconomic conditions and the recovery.
Key subject areas and keywords (as listed in the publication)
- Subject: Budget planning and preparation; Environment; Expenditure; External debt; Fiscal policy; Non-renewable resources; Public debt
- Keywords: core government function; CR; Global; government; government's strategy; ISCR; minority equity share; monetary policy tool; Non-renewable resources; PNG government; price; private sector credit