Papua New Guinea: Requests for an Arrangement under the Extended Credit Facility and an Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for the Papua New Guinea
March 29, 2023
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Papua New Guinea: Requests for an Arrangement under the Extended Credit Facility and an Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for the Papua New Guinea, (USA: International Monetary Fund, 2023) accessed November 26, 2024
Summary
Papua New Guinea (PNG) is a fragile state, vulnerable to natural disasters and terms of trade shocks. Low commodity prices in 2014-20, a severe drought in 2015-16, and a major earthquake in 2018 softened growth, led to shortages of FX, and contributed to a pre-pandemic build-up of public debt. The pandemic further increased public debt, which is now at high risk of distress, while development needs remain considerable.
Publication Details
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Pages:
102
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Volume:
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DOI:
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Issue:
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Series:
Country Report No. 2023/126
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Stock No:
1PNGEA2023001
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ISBN:
9798400237898
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ISSN:
1934-7685
