Papua New Guinea: Fourth Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria

International Monetary Fund

No 2001/184, IMF Staff Country Reports from International Monetary Fund

Abstract: 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 stances, and accelerate structural reforms. They cautioned the authorities to remain vigilant over financial developments and implement additional corrective actions, if needed. They agreed that the country has completed the fourth review under the Stand-by Arrangement, and approved a waiver.

Keywords: ISCR; CR; world commodity price; government; interest rate development; expenditure restraint; world interest rates; government interest bill; executive board discussion; Structural reforms; Currencies; Public sector; Australia and New Zealand; Global (search for similar items in EconPapers)
Pages: 74
Date: 2001-10-23
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