Papua New Guinea: 2010 Article IV Consultation: Staff Report and Public Information Notice

June 10, 2010

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Papua New Guinea: 2010 Article IV Consultation: Staff Report and Public Information Notice, (USA: International Monetary Fund, 2010) accessed November 21, 2024

Summary

This 2010 Article IV Consultation highlights that real activity in Papua New Guinea was relatively unaffected by the global downturn, with growth easing to roughly 5 percent in 2009 from 7 percent in 2008. A number of factors contributed to this favorable outcome. The country’s financial sector was insulated from the turmoil in global capital markets and domestic credit continued to grow, albeit at a slower pace than in the preceding few years. Export demand also held up, as stimulus measures in other Asian countries supported demand for commodities, the country’s main export.

Subject: Banking, Commodity prices, Environment, External debt, Inflation, Non-renewable resources, Prices, Public debt

Keywords: Article IV consultation, Commodity prices, CR, Exchange rate, GDP, Global, IDA lending operation, Inflation, Inflation expectation, Inflation pressure, ISCR, Lapse of time procedure, Mineral revenue, Non-renewable resources, Rate of drawdown

Publication Details

Pages:

59
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/164
Stock No:

1PNGEA2010002
ISBN:

9781455204649
ISSN:

1934-7685

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