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Papua New Guinea: 2006 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion for Papua New Guinea
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2007: Issue 111
Language:
English
Publication Date:
21 Mar 2007
DOI:
https://doi.org/10.5089/9781451831726.002
ISBN:
9781451831726
ISSN:
1934-7685
Pages:
55
Keywords:
ISCR; CR; U.S. dollar; private sector; country authorities; broad money; exchange rate; debt service; government spending; spending outcome; mineral wealth; current account; central bank; Non-renewable resources; Budget planning and preparation; Asia and Pacific
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This 2006 Article IV Consultation highlights that Papua New Guinea is enjoying its fourth year of recovery and macroeconomic stability, but major challenges lie ahead. Sound macroeconomic policies over the past several years have reduced fiscal vulnerabilities, lowered inflation, spurred business confidence, and boosted growth. High prices for key export commodities have strengthened the fiscal and external positions. However, progress toward achieving the country’s Medium-Term Development Strategy objectives or Millennium Development Goals has been limited. Recent developments and the near-term outlook remain favorable.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund