Papua New Guinea: 2007 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion for Papua New Guinea

March 12, 2008

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Papua New Guinea: 2007 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion for Papua New Guinea, (USA: International Monetary Fund, 2008) accessed September 19, 2024

Summary

Papua New Guinea’s economic performance has strengthened since the last Article IV Consultation. The country has significant underlying vulnerabilities. The economy is exposed to commodity price shocks, and mineral production is expected to decline over the medium to longer term. However, macroeconomic vulnerabilities have intensified, in particular, the potential for higher unproductive fiscal spending to raise demand pressures and spur inflation. Prudent fiscal policies are welcomed. Implementation of the multi-donor technical assistance plan is encouraged. The authorities are encouraged to accelerate the structural reforms and improve infrastructure.

Subject: Banking, Economic and financial statistics, Environment, Expenditure, External debt, Monetary statistics, Non-renewable resources, Public debt

Keywords: Central bank, CR, Fiscal policy, Global, IBRD loan, IDA lending operation, IMF staff estimate, ISCR, Loan, Monetary policy, Monetary statistics, Non-renewable resources, Pressures building, Prudent fiscal policy, Revenue inflow, Sc

Publication Details

Pages:

73
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/098
Stock No:

1PNGEA2008002
ISBN:

9781451831757
ISSN:

1934-7685

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