Papua New Guinea : Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

June 26, 2020

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The COVID-19 pandemic erupted just as the government was beginning to implement wide-ranging fiscal, foreign exchange, structural, and governance measures under a Staff-Monitored Program (SMP). The authorities have reaffirmed their commitment to these reforms, but the impact of the crisis is generating balance of payments and fiscal gaps of 4 and 3 percent of GDP, respectively. In the near term, risks are primarily on the downside, especially if there is a widespread local outbreak of the virus. Papua New Guinea’s longer-term outlook remains positive, largely reflecting the likelihood of major resource sector projects.

Series:

Country Report No. 2020/211

Subject:

Frequency:

regular

English

Publication Date:

June 26, 2020

ISBN/ISSN:

9781513548708/1934-7685

Stock No:

1PNGEA2020002

Format:

Paper

Pages:

45

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