Papua New Guinea: Fifth Reviews Under the Extended Arrangement Under the Extended Fund Facility and the Arrangement Under the Extended Credit Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Second Review Under the Resilience and Sustainability Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

International Monetary Fund

No 2025/336, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Papua New Guinea’s Fifth Reviews under the Extended Arrangement under the Extended Fund Facility and the Arrangement under the Extended Credit Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Second Review under the Resilience and Sustainability Facility Arrangement. The IMF-supported programs will continue to support Papua New Guinea’s homegrown reform agenda, focusing on strengthening debt sustainability, alleviating foreign exchange shortages, fostering good governance, and building climate resilience, while protecting the vulnerable and promoting inclusive and sustainable growth. Papua New Guinea’s economic outlook remains positive as structural reforms continue to bear fruit. Growth is projected to reach 4.5 percent in 2025, driven by increased production in the resource sector and resilient growth in the non-resource sector supported by improvements in access to foreign exchange and favorable agricultural production. Program performance has remained satisfactory, with the authorities displaying a sustained commitment to reforms. Building resilience to climate-related risks is crucial for achieving high and inclusive growth.

Keywords: headline inflation; Policy discussion; conducive policy environment; Eff arrangement; Papua New Guinean authorities; finance opportunity; Anti-money laundering and combating the financing of terrorism (AML/CFT); Climate change; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 106
Date: 2025-12-16
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