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

International Monetary Fund

No 2020/211, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; PNG economy; government; PNG government; financial support; IMF financing support; PNG Treasurer; IMF lending tracker; COVID-19; Global (search for similar items in EconPapers)
Pages: 45
Date: 2020-06-26
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