The recent decision by the International Monetary Fund (IMF) to approve US$918 million (K3.2 billion) in new funding to Papua New Guinea is helping to fast-track a solution to the country’s chronic foreign exchange shortages. Business Advantage PNG spoke with Sohrab Rafiq, the IMF’s new PNG representative, to learn more.
New forex strategy promises gradual return to a floating currency in Papua New Guinea: IMF
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9 May 2023 by Leave a Comment
Fiscal consolidation in Papua New Guinea: some promising signs, but will it be sustained?
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27 Mar 2023 by 1 Comment
Will Papua New Guinea eliminate its fiscal deficit by 2027? Devpolicy’s Kingtau Mambon and Alyssa Leng analyse debt, budget deficit and ‘glimmers of hope’ to answer this pressing question.
Papua New Guinea’s economy set for medium term growth: IMF
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20 Jul 2022 by 2 Comments
Papua New Guinea’s economy has weathered the COVID pandemic well, according to the International Monetary Fund’s latest Article IV assessment, completed last week. While the assessment paints an improved picture over the medium term, it flags some key reforms that PNG’s government still needs to address.
What the International Monetary Fund is doing in Papua New Guinea
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15 Jul 2020 by 1 Comment
With Papua New Guinea’s government debt set to rise to over 40 per cent of GDP due of the COVID-19 crisis, the International Monetary Fund’s PNG Mission Chief, Scott Roger, explains how the IMF is helping the country get back on a sustainable financial course.
Explainer: Papua New Guinea’s stimulus package relying on overstretched IMF
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6 Apr 2020 by 1 Comment
Papua New Guinea’s government has announced its Budget deficit will balloon to more than K6 billion, the biggest in the nation’s history. Treasurer Ian Ling-Stuckey has announced a well-targeted stimulus, but the International Monetary Fund needs to come to the party.
Stimulate or stagnate: steering Papua New Guinea’s economy through the COVID-19 crisis
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30 Mar 2020 by 2 Comments
The global economic meltdown that has been triggered by the COVID-19 virus outbreak has hit Papua New Guinea hard. What are the implications for the country’s business and financial sectors?
IMF report says Papua New Guinea Government taking initiative but challenges remain considerable
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16 Jan 2018 by Leave a Comment
A report on the state of the Papua New Guinea economy by the International Monetary Fund (IMF) says the Government has taken some ‘bold steps’ in its economic management. But it contends that the challenges are considerable and would be best managed with an ‘active’ approach to macroeconomic management.
What the IMF says will solve PNG’s problems
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8 Feb 2017 by Leave a Comment
The IMF’s report on Papua New Guinea has suggested that the PNG Government has responded to pressures on the budget and foreign exchange shortages. But it says that more attention should be given to the deals offered to foreign mining companies.
In brief: Trump election bad for exporters says Chamber President, and other business stories
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15 Nov 2016 by Leave a Comment
Leahy predicts pressure on kina after Trump election, ban on beche-de-mer to be lifted and financing boost for SMEs. Your weekly digest of the latest business news.
Analysis: lingering questions for 2016 Papua New Guinea budget, APEC and public debt
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10 Feb 2016 by Leave a Comment
The 2016 Budget was one of emergency for PNG. Adjusting to a 20% collapse in revenue caused by plummeting commodity prices and an economic slow-down, the government has implemented harsh expenditure cuts.The Lowy Institute’s Jonathan Pryke examines the budgetary impact of holding the APEC summit in Port Moresby in 2018.
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