Papua New Guinea: 2005 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 099

Publication date: March 2006

ISBN: 9781451831702

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Inflation , Public Finance , Business and Financial , Natural Resources , ISCR , CR , government , PNG government , core government function , minority equity share , price , private sector credit , monetary policy tool , government's strategy , Non-renewable resources , Global

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Summary

Papua New Guinea’s 2005 Article IV Consultation reports that the economy continues to perform well as the recovery maintains its momentum and the authorities adhere to disciplined fiscal and monetary policies. The central government budget has been estimated to be once more in surplus in 2005, as mining and petroleum revenue remain strong and overall expenditure is kept in check, resulting in a further reduction in public sector debt. Monetary policy has achieved a favorable combination of relatively low interest rates and inflation.