Papua New Guinea: 2025 Article IV Consultation, Fourth Reviews Under the Extended Arrangement Under the Extended Fund Facility and the Arrangement Under the Extended Credit Facility, Requests for a Waiver of Nonobservance of Performance Criterion, Modification of a Quantitative Performance Criterion, and First Review Under the Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

International Monetary Fund

No 2025/134, IMF Staff Country Reports from International Monetary Fund

Abstract: Papua New Guinea (PNG) is navigating a wide range of macroeconomic and social challenges. The economy was beset by a series of exogenous shocks over the past decade, including low commodity prices, droughts, earthquakes, and the COVID-19 pandemic, which adversely affected growth, contributed to foreign exchange shortages, and pushed up public debt. The outlook is positive, but the economy remains in a fragile state—including from further negative effects of climate change—and is facing significant development and climate adaptation gaps. This calls for a continued implementation of a multipronged reform agenda aimed at promoting inclusive, sustainable, and resilient growth.

Keywords: TA mission; ICAC oversight committee; emergency liquidity assistance framework; PNG agriculture commercialization; TA support; Climate change; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global; Asia and Pacific; Pacific Islands (search for similar items in EconPapers)
Pages: 164
Date: 2025-06-18
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