Papua New Guinea: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

June 26, 2020

Preview Citation

Format: Chicago

Papua New Guinea: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea, (USA: International Monetary Fund, 2020) accessed December 24, 2024

Summary

The COVID-19 pandemic erupted just as the government was beginning to implement wide-ranging fiscal, foreign exchange, structural, and governance measures under a Staff-Monitored Program (SMP). The authorities have reaffirmed their commitment to these reforms, but the impact of the crisis is generating balance of payments and fiscal gaps of 4 and 3 percent of GDP, respectively. In the near term, risks are primarily on the downside, especially if there is a widespread local outbreak of the virus. Papua New Guinea’s longer-term outlook remains positive, largely reflecting the likelihood of major resource sector projects.

Subject: COVID-19, Expenditure, External debt, Foreign exchange, Health, Public debt

Keywords: COVID-19, CR, Financial support, Global, Government, IMF financing support, IMF lending tracker, ISCR, PNG economy, PNG government, PNG Treasurer

Publication Details

Pages:

45
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2020/211
Stock No:

1PNGEA2020002
ISBN:

9781513548708
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports