Papua New Guinea: 2006 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion for Papua New Guinea

March 21, 2007

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Papua New Guinea: 2006 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion for Papua New Guinea, (USA: International Monetary Fund, 2007) accessed December 22, 2024

Summary

This 2006 Article IV Consultation highlights that Papua New Guinea is enjoying its fourth year of recovery and macroeconomic stability, but major challenges lie ahead. Sound macroeconomic policies over the past several years have reduced fiscal vulnerabilities, lowered inflation, spurred business confidence, and boosted growth. High prices for key export commodities have strengthened the fiscal and external positions. However, progress toward achieving the country’s Medium-Term Development Strategy objectives or Millennium Development Goals has been limited. Recent developments and the near-term outlook remain favorable.

Subject: Budget planning and preparation, Environment, Expenditure, External debt, Non-renewable resources, Public debt, Public financial management (PFM)

Keywords: Asia and Pacific, Broad money, Budget planning and preparation, Central bank, Country authorities, CR, Current account, Debt service, Exchange rate, Government spending, ISCR, Mineral wealth, Non-renewable resources, Private sector, Spending outcome, U.S. dollar

Publication Details

Pages:

55
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/111
Stock No:

1PNGEA2007001
ISBN:

9781451831726
ISSN:

1934-7685

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