Papua New Guinea: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea
Electronic Access:
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Summary:
The COVID-19 pandemic erupted just as the government was beginning to implement wide-ranging fiscal, foreign exchange, structural, and governance measures under a Staff-Monitored Program (SMP). The authorities have reaffirmed their commitment to these reforms, but the impact of the crisis is generating balance of payments and fiscal gaps of 4 and 3 percent of GDP, respectively. In the near term, risks are primarily on the downside, especially if there is a widespread local outbreak of the virus. Papua New Guinea’s longer-term outlook remains positive, largely reflecting the likelihood of major resource sector projects.
Series:
Country Report No. 2020/211
Subject:
COVID-19 Expenditure External debt Foreign exchange Health Public debt
Frequency:
regular
English
Publication Date:
June 26, 2020
ISBN/ISSN:
9781513548708/1934-7685
Stock No:
1PNGEA2020002
Pages:
45
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