IMF Staff Country Reports

Papua New Guinea: 2025 Article IV Consultation, Fourth Reviews Under the Extended Arrangement Under the Extended Fund Facility and the Arrangement Under the Extended Credit Facility, Requests for a Waiver of Nonobservance of Performance Criterion, Modification of a Quantitative Performance Criterion, and First Review Under the Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

June 18, 2025

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International Monetary Fund. Asia and Pacific Dept "Papua New Guinea: 2025 Article IV Consultation, Fourth Reviews Under the Extended Arrangement Under the Extended Fund Facility and the Arrangement Under the Extended Credit Facility, Requests for a Waiver of Nonobservance of Performance Criterion, Modification of a Quantitative Performance Criterion, and First Review Under the 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 2025, 134 (2025), accessed July 20, 2025, https://doi.org/10.5089/9798229014366.002

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Summary

Papua New Guinea (PNG) is navigating a wide range of macroeconomic and social challenges. The economy was beset by a series of exogenous shocks over the past decade, including low commodity prices, droughts, earthquakes, and the COVID-19 pandemic, which adversely affected growth, contributed to foreign exchange shortages, and pushed up public debt. The outlook is positive, but the economy remains in a fragile state—including from further negative effects of climate change—and is facing significant development and climate adaptation gaps. This calls for a continued implementation of a multipronged reform agenda aimed at promoting inclusive, sustainable, and resilient growth.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Climate change, Crime, Environment, External debt, Foreign exchange, Public debt

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asia and Pacific, Climate change, Emergency liquidity assistance framework, Global, ICAC oversight committee, Pacific Islands, PNG agriculture commercialization, TA mission, TA support

Publication Details

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