Papua New Guinea: 2010 Article IV Consultation: Staff Report and Public Information Notice
June 10, 2010
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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.
Subject: Banking, Commodity prices, Environment, External debt, Inflation, Non-renewable resources, Prices, Public debt
Keywords: article IV consultation, Commodity prices, CR, exchange rate, GDP, Global, IDA lending operation, Inflation, inflation expectation, inflation pressure, ISCR, lapse of time procedure, mineral revenue, Non-renewable resources, rate of drawdown
Pages:
59
Volume:
2010
DOI:
Issue:
164
Series:
Country Report No. 2010/164
Stock No:
1PNGEA2010002
ISBN:
9781455204649
ISSN:
1934-7685
