IMF Staff Country Reports

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

December 17, 2024

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International Monetary Fund. Asia and Pacific Dept "Papua New Guinea: Third Reviews under Extended Arrangement under the Extended Fund Facility and an Arrangement under the Extended Credit Facility, Request for Extension, Rephasing of Access, and Modification of Quantitative Performance Criteria, and Request for an Arrangement under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea", IMF Staff Country Reports 2024, 344 (2024), accessed March 21, 2025, https://doi.org/10.5089/9798400295386.002

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Summary

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 longstanding structural impediments to inclusive growth. Despite socio-political challenges, the authorities have made progress in implementing reforms, demonstrating continued commitment to the program’s objectives.

Subject: Climate change, Climate finance, Environment, External debt, Public debt

Keywords: Asia and Pacific, Climate change, Climate finance, EFF arrangement, EFF program, Global, Government plan, Pacific Islands, PNG agriculture commercialization, PNG government, RSF arrangement, RSF reform agenda

Publication Details

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