Papua New Guinea: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea

May 25, 2011

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Format: Chicago

Papua New Guinea: 2011 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, 2011) accessed December 22, 2024

Summary

Papua New Guinea showed solid economic growth, supported by greater political stability, fiscal framework, and a healthy banking sector. Executive Directors encouraged the authorities to consider tighter macroeconomic policies in the face of rising inflation pressures and also stressed the need of a tight fiscal policy. They welcomed the Sovereign Wealth Funds (SWF), and considered it important to integrate the use of resources in the SWF into the budget and macroeconomic framework, supported by strong fiscal institutions. Directors observed that Liquefied Natural Gas (LNG) and other resource projects provide an opportunity to raise long-term growth and living standards.

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

Keywords: Commodity prices, CR, Exchange rate, Financing activity, Global, Inflation, ISCR, Net acquisition, Net incurrence, Non-renewable resources, PNG authorities, Trust accounts closing balance

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/117
Stock No:

1PNGEA2011001
ISBN:

9781455281589
ISSN:

1934-7685

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