Despite difficult political and economic circumstances, Papua New Guinea has made progress toward stabilization and structural reform under the program supported by the Stand-By Arrangement. Executive Directors welcomed these developments, and stressed the need to maintain fiscal and monetary...

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...

Papua New Guinea (PNG) is a fragile state, vulnerable to recurrent shocks. A third wave of the COVID-19 pandemic is straining the healthcare system. Widespread vaccine hesitancy has contributed to very low uptake of the vaccines with about only 2 percent of the population fully vaccinated. Real...