## Papua New Guinea: 2022 Article IV and the Staff Monitored Program — Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

_IMF Staff Country Reports, September 20, 2022_

## Source details

**Canonical URL:** [Papua New Guinea: 2022 Article IV and the Staff Monitored Program — Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea](https://www.imf.org/en/publications/cr/issues/2022/09/20/papua-new-guinea-2022-article-iv-and-the-staff-monitored-program-press-release-staff-report-523626)

## Other formats

- [Markdown version](/en/publications/cr/issues/2022/09/20/papua-new-guinea-2022-article-iv-and-the-staff-monitored-program-press-release-staff-report-523626/index.md)
- [Structured JSON version](/en/publications/cr/issues/2022/09/20/papua-new-guinea-2022-article-iv-and-the-staff-monitored-program-press-release-staff-report-523626/index.json)
- [Bundle manifest](/en/publications/cr/issues/2022/09/20/papua-new-guinea-2022-article-iv-and-the-staff-monitored-program-press-release-staff-report-523626/bundle-manifest.json)

## Bibliographic details
- Published: September 20, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400221262.002

---

### Macroeconomic outlook and performance
- Real GDP in 2022 is projected to exceed its 2019 level.
- The medium-term outlook is positive, supported by investment in and revenues from the resource sector.
- The war in Ukraine is impacting PNG through higher commodity prices and higher inflation.
  - Higher commodity prices are leading to a stronger balance of payments and higher fiscal revenues because PNG is a large commodity producer.

### Key risks and vulnerabilities
- Risks remain skewed to the downside and include:
  - A worsening health situation given the low vaccination rate.
  - Volatility in commodity prices.
  - Political instability.

### Thematic focus areas (as listed)
- Debt sustainability analysis
- Economic and financial statistics
- External debt
- External sector statistics
- Government finance statistics
- Monetary policy
- Public debt
- International organization

### Tags and keywords (as listed)
- Asia and Pacific
- bank PNG
- cashflow management
- Debt sustainability analysis
- External sector statistics
- Global
- Government finance statistics
- Pacific Islands
- PNG government
- PNG LNG project
- PNG parliament
- Western Hemisphere

*Papua New Guinea: 2022 Article IV and the Staff Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea — September 20, 2022.*

---

## Content in this bundle

- **1pngea2022002**
  - [1pngea2022002 (Markdown version)](/-/media/files/publications/cr/2022/english/1pngea2022002.pdf.md){rel="alternate" type="text/markdown"}
  - [1pngea2022002 (PDF)](/-/media/files/publications/cr/2022/english/1pngea2022002.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2022/09/20/papua-new-guinea-2022-article-iv-and-the-staff-monitored-program-press-release-staff-report-523626_