IMF Staff Country Reports

Papua New Guinea: Background Material

Publication Date:

August 17, 1995

Summary:

This Background Material paper describes developments in the mineral sector of Papua New Guinea during the 1990s. It examines causes and implications of the buildup in fiscal arrears. The paper highlights that one of the notable developments in 1994 was the emergence of large fiscal arrears, which had important effects on monetary and external developments during the second half of 1994 and early 1995. The paper also provides background information on the causes of these arrears and the actions taken by the authorities to settle them.

Series:

Country Report No. 1995/080

Subject:

Banking Commercial banks Credit Environment Financial institutions Gross fixed investment Imports International trade Money National accounts Non-renewable resources

Notes:

This background material on Papua New Guinea was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.