IMF Staff Country Reports

Papua New Guinea: Staff Report for the 2013 Article IV Consultation

Publication Date:

December 3, 2013

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2013 Article IV Consultation highlights that Papua New Guinea has achieved strong economic growth over the past decade, benefiting from high commodity prices, mineral investment inflows, sound macroeconomic policies, and financial sector stability. The current account deficit is expected to narrow sharply in 2013 as imports and income outflows decline with the winding down of liquefied natural gas project construction. The Bank of Papua New Guinea has kept the policy interest rate unchanged since early 2013 given weakening nonmineral sector demand, but has issued central bank bills and raised cash reserve requirements to absorb excess liquidity in the banking system.

Series:

Country Report No. 2013/339

Subject:

Budget planning and preparation Economic and financial statistics Expenditure External debt Government finance statistics National accounts Public debt Public financial management (PFM)