Papua New Guinea: Staff Report for the 2013 Article IV Consultation

International Monetary Fund

No 2013/339, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2013 Article IV Consultation highlights that Papua New Guinea has achieved strong economic growth over the past decade, benefiting from high commodity prices, mineral investment inflows, sound macroeconomic policies, and financial sector stability. The current account deficit is expected to narrow sharply in 2013 as imports and income outflows decline with the winding down of liquefied natural gas project construction. The Bank of Papua New Guinea has kept the policy interest rate unchanged since early 2013 given weakening nonmineral sector demand, but has issued central bank bills and raised cash reserve requirements to absorb excess liquidity in the banking system.

Keywords: ISCR; CR; government; PNG government; PNG LNG project; financing needs; LNG prices decline; IMF TA recommendation; resource revenue; PFTAC mission; Budget planning and preparation; Global; Pacific Islands; Policy discussion; LNG revenue increase; Government finance statistics (search for similar items in EconPapers)
Pages: 68
Date: 2013-12-03
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=41080 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2013/339

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().