Papua New Guinea

Papua New Guinea (PNG) is a fragile state with acute development needs, unstable social and political environment, and limited capacity. In the past decade, it faced multiple shocks, including natural disasters, that adversely affected growth, contributed to a sharp increase in public debt, and led to significant shortages of foreign exchange. To rebuild policy buffers and address the country’s long-standing structural challenges, the authorities have steadily implemented a multipronged reform agenda with extensive support from the IMF and other development partners.