Papua New Guinea: 2006 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion for Papua New Guinea

International Monetary Fund

No 2007/111, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2006 Article IV Consultation highlights that Papua New Guinea is enjoying its fourth year of recovery and macroeconomic stability, but major challenges lie ahead. Sound macroeconomic policies over the past several years have reduced fiscal vulnerabilities, lowered inflation, spurred business confidence, and boosted growth. High prices for key export commodities have strengthened the fiscal and external positions. However, progress toward achieving the country’s Medium-Term Development Strategy objectives or Millennium Development Goals has been limited. Recent developments and the near-term outlook remain favorable.

Keywords: ISCR; CR; U.S. dollar; private sector; country authorities; broad money; exchange rate; debt service; government spending; spending outcome; mineral wealth; current account; central bank; Non-renewable resources; Budget planning and preparation; Asia and Pacific (search for similar items in EconPapers)
Pages: 55
Date: 2007-03-21
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