IMF Staff Country Reports

Papua New Guinea: First Reviews under Extended Arrangement under the Extended Fund Facility and an Arrangement under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Publication Date:

December 6, 2023

Electronic Access:

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

Summary:

Background. On March 22, 2023, the IMF Executive Board approved 38-month Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements with Papua New Guinea to help address a protracted balance of payments need manifested in foreign exchange shortages and to support the authorities’ reforms to address long-standing structural impediments to inclusive growth. While ambitious, the program is focused on macro-critical conditionality, supported by capacity development (CD), and informed by a Country Engagement Strategy, in line with the IMF’s Strategy for Fragile and Conflict-Affected States (FCS).

Series:

Country Report No. 2023/385

Subject:

Debt sustainability analysis External debt Foreign exchange International organization Monetary policy Public debt Revenue administration

Frequency:

regular