Papua New Guinea’s economic performance has strengthened since the last Article IV Consultation. The country has significant underlying vulnerabilities. The economy is exposed to commodity price shocks, and mineral production is expected to decline over the medium to longer term. However,...

Papua New Guinea has seen solid economic growth over the past decade, supported by sound macroeconomic policies. This 2012 Article IV Consultation discusses that the financial sector in Papua New Guinea remains profitable and well capitalized, but vulnerabilities have increased. Executive...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

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,...

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...

Papua New Guinea (PNG) was only mildly impacted on the financial front during the global crisis. Although the financial sector in PNG has been a source of strength in 2000, vulnerabilities exist and need to be carefully managed. There are important steps needed to strengthen the regulation and...

This report describes Papua New Guinea's recent economic developments by assessing its output and price developments. The paper discusses the central government finances, tax and expenditure policies, the public sector reform program, and pension funds. The study also analyzes the institutional...

Papua New Guinea showed satisfactory performance under the Stand-By Arrangement. Executive Directors commended the macroeconomic stabilization and structural reform, and emphasized the need to maintain fiscal and monetary stances. They appreciated the improved governance, transparency, and...

This paper assesses Papua New Guinea’s 2003 Article IV Consultation and a Request for an Extension of Repurchase Expectations. Since the mid-1990s, Papua New Guinea’s growth performance has been weak and poverty has increased owing to an unfavorable external environment, loose macroeconomic...