IMF Staff Country Reports

Papua New Guinea: Staff Report for the 2003 Article IV Consultation and Request for an Extension of Repurchase Expectations

Publication Date:

June 25, 2003

Electronic Access:

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Summary:

This paper assesses Papua New Guinea’s 2003 Article IV Consultation and a Request for an Extension of Repurchase Expectations. Since the mid-1990s, Papua New Guinea’s growth performance has been weak and poverty has increased owing to an unfavorable external environment, loose macroeconomic policies, and deep-seated structural impediments to growth. The IMF staff supports the authorities’ request to extend their repurchase expectations to the IMF in light of the weakness in Papua New Guinea’s balance-of-payments position and the deterioration in key external indicators mainly because of lower mineral exports over the medium term.

Series:

Country Report No. 2003/178

Subject:

Budget planning and preparation Expenditure External debt Government debt management Public debt Public financial management (PFM)