International Monetary Fund Article IV

Institute of National Affairs executive director, Paul Barker made the comment when responding to question of the delay in releasing the International Monetary Fund (IMF) Report Article IV will hamper the Government’s bid for a sovereign bond.  

The PNG Government will make a trip to the United States for a road show this year, because the sovereign bond, when secured will support the 2017 National Budget.    

Prime Minister Peter O’Neill told Loop PNG that, the report is still with the Treasury Department for consultation.

“It is my understanding that IMF mission report is still being discussed between Treasury and IMF because of some discrepancies.”

“The report has not reached NEC and therefore cannot comment any further,” O’Neill said.        

Institute of National Affairs executive director, Paul Barker said it’s unheard for a country to delay the release of an International Monetary Fund (IMF) Report.

Institute of National Affairs executive director, Paul Barker made this comment in an interview in Port Moresby today.  

IMF Article IV was released in November 2016, but to date the National Government have not responded to the article.

“It’s not, Government refusing to release the report to the IMF, it’s a IMF staff report been to their board and approved at the end of November, and they have given an opportunity for the (PNG) government to respond to it,” said Barker, an economist.