IMF Executive Board Concludes 2016 Article IV Consultation with Papua New Guinea
IMF News, December 23, 2016
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Bibliographic details
- Published: December 23, 2016
Executive Board action
- On November 29, 2016, the Executive Board of the International Monetary Fund concluded the 2016 Article IV consultation with Papua New Guinea.
- The Board considered and endorsed the staff appraisal without a meeting.
- Press Release reference: Press Release No. 16/580
Scope and mandate of the Article IV consultation
- Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system.
- The IMF’s appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country.
- IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials.
- Upon its return, the staff submits a report to the IMF’s Executive Board for discussion. The Board’s views are subsequently summarized and transmitted to the country authorities.
Publication status
- The authorities need more time to consider the publication of the staff report and the related press release.
Media contact
- PRESS OFFICER: Andrew Kanyegirire
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
Press Release No. 16/580 — December 23, 2016