Papua New Guinea: 2011 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, May 25, 2011
Source details
- Canonical URL
- Papua New Guinea: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea
Other formats
Bibliographic details
- Published: May 25, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455281589.002
Key findings
- Papua New Guinea showed solid economic growth.
- Growth was supported by greater political stability, a fiscal framework, and a healthy banking sector.
- Directors observed that Liquefied Natural Gas (LNG) and other resource projects provide an opportunity to raise long-term growth and living standards.
Macroeconomic and fiscal policy recommendations
- Executive Directors encouraged the authorities to consider tighter macroeconomic policies in the face of rising inflation pressures.
- Directors stressed the need for a tight fiscal policy.
Sovereign Wealth Fund (SWF) guidance
- Directors welcomed the Sovereign Wealth Funds (SWF).
- It was considered important to integrate the use of resources in the SWF into the budget and macroeconomic framework.
- Integration should be supported by strong fiscal institutions.
Themes and subject areas covered
- Commodity prices
- Environment
- External debt
- Inflation
- Non-renewable resources
- Prices
- Public debt
_ Source: Papua New Guinea: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea — May 25, 2011._