Papua New Guinea: 2022 Article IV and the Staff Monitored Program — Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea
IMF Staff Country Reports, September 20, 2022
Source details
- Canonical URL
- Papua New Guinea: 2022 Article IV and the Staff Monitored Program — Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea
Other formats
Bibliographic details
- Published: September 20, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400221262.002
Macroeconomic outlook and performance
- Real GDP in 2022 is projected to exceed its 2019 level.
- The medium-term outlook is positive, supported by investment in and revenues from the resource sector.
- The war in Ukraine is impacting PNG through higher commodity prices and higher inflation.
- Higher commodity prices are leading to a stronger balance of payments and higher fiscal revenues because PNG is a large commodity producer.
Key risks and vulnerabilities
- Risks remain skewed to the downside and include:
- A worsening health situation given the low vaccination rate.
- Volatility in commodity prices.
- Political instability.
Thematic focus areas (as listed)
- Debt sustainability analysis
- Economic and financial statistics
- External debt
- External sector statistics
- Government finance statistics
- Monetary policy
- Public debt
- International organization
Tags and keywords (as listed)
- Asia and Pacific
- bank PNG
- cashflow management
- Debt sustainability analysis
- External sector statistics
- Global
- Government finance statistics
- Pacific Islands
- PNG government
- PNG LNG project
- PNG parliament
- Western Hemisphere
Papua New Guinea: 2022 Article IV and the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea — September 20, 2022.
Content in this bundle
- 1pngea2022002