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IMF Reaches Staff-Level Agreement with Papua New Guinea on the Second Reviews of the Extended Credit Facility and the Extended Fund Facility
- IMF staff and the Papua New Guinea authorities reached a staff-level agreement on the completion of the second reviews of the Extended Credit Facility (ECF) and Extended Fund Facility (EFF).
- Papua New Guinea’s outlook remains positive, with economic growth increasing to 4.6 percent in 2024. The authorities continue to advance their homegrown economic reforms. All performance criteria for the second reviews have been met and the structural reform agenda is advancing.
- Completion of the reviews is pending the IMF Executive Board approval, which would allow the disbursement of SDR 94.75 million (or about US$ 127 million).[..]