Papua New Guinea: Second 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
IMF Staff Country Reports, July 18, 2024
Source details
- Canonical URL
- Papua New Guinea: Second 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
Other formats
Bibliographic details
- Published: July 18, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400281105.002
Summary findings
- The paper presents Papua New Guinea’s Second Reviews under Extended Arrangement under the Extended Fund Facility under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria.
- The program performance recorded over the second review period continues to attest to the authorities’ strong commitment to reforms.
- Authorities have successfully advanced the implementation of their reform agenda while overcoming technical and institutional capacity constraints.
- The program will continue to support Papua New Guinea’s reform agenda, help protect the vulnerable, and foster inclusive growth.
Policy recommendations and priorities
- Fiscal consolidation should continue to address debt vulnerabilities.
- Create fiscal space to meet development and climate adaptation needs.
- Devise contingency plans to anticipate the possible materialization of fiscal risks, including from natural disasters.
- Maintain focus on:
- Strengthening debt sustainability.
- Alleviating foreign exchange shortages.
- Enhancing governance and anti-corruption frameworks.
Program objectives and scope
- Support for reforms aimed at more resilient, inclusive and sustainable growth.
- Continued assistance to protect vulnerable populations and foster inclusive growth through policy and institutional measures.
Thematic coverage (as listed)
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Credit
- Crime
- External debt
- Money
- Public debt
- Revenue administration
Keywords (as listed)
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Asia and Pacific
- Credit
- EFF arrangement
- monetary policy reform
- PNG kina
- Policy discussion
- reform agenda
Content in this bundle
- 1pngea2024001-print-pdf