Papua New Guinea’s economic outlook remains favorable. Growth is expected to soften to 3.0 percent this year, due to the normalization of LNG production, but is projected to rebound to 5.0 percent in 2024, spurred by the expected reopening of Porgera gold mine and by sustained growth in the agriculture and service sectors. Inflation—after significantly declining in the past year due to fiscal measures and lower imported inflation, is projected to rise, reaching 3.5 percent by end-2023 and 5.0 percent by end-2024.

Country Report No. 2023/375

Policy Paper No. 2023/049

Country Report No. 2023/370

Cameroon IMF Extended Credit Facility Extended Fund Facility Article IV

Good morning and welcome to our conference on “Fiscal Policy in an Era of High Debt”. Since the mid-1970s, global public debt has tripled to reach 92 percent of GDP by the end of 2022. So, debt levels had been rising for some time.

Thank you, President Biden, for inviting me to join the leaders. And let me go straight to where we are in the world economy. First, the good news. The global economy has been surprisingly resilient in 2023. But the recovery from the two consecutive shocks – the pandemic and the war – remains slow and uneven, and divergence in economic fortunes across the world continues to grow.

Country Report No. 2023/371

A staff team from the International Monetary Fund (IMF) led by Mr. Dmitry Gershenson visited Tunis, Tunisia, during November 13-16, 2023 to discuss Libya’s economic and financial developments, the macroeconomic outlook, and the country’s policy and reform priorities.

A staff team from the International Monetary Fund (IMF) team, led by Ms. Vera Martin, IMF mission chief for Zambia, visited Lusaka from October 25th to November 8th, 2023, to discuss progress on economic and financial policies to in the context of the second Review under the Extended Credit Facility (ECF) arrangement. The