Papua New Guinea: 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea

April 3, 2009

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Papua New Guinea: 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Summary

This 2008 Article IV Consultation highlights that GDP per capita for Papua New Guinea remains low. An unattractive investment environment, primarily owing to weak infrastructure, problems with governance, and high crime curtails development. Executive Directors have commended the authorities for saving the bulk of recent windfall mineral revenues and repaying public debt to improve the external debt position. They have also acknowledged the authorities’ policy of slowing exchange rate depreciation to moderate inflationary pressures.

Subject: Banking, Commodity prices, Environment, Expenditure, External debt, Inflation, Non-renewable resources, Prices, Public debt

Keywords: Authority, Collection arrangement, Commodity prices, CR, Development spending, GDP, Global, Inflation, ISCR, Non-renewable resources, PNG financial system, Policy credibility, Terms of trade, Windfall revenue

Publication Details

Pages:

63
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/112
Stock No:

1PNGEA2009001
ISBN:

9781451831764
ISSN:

1934-7685

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