01805cas a2200241 a 4500 AALejournalIMF021064 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513548708 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Asia and Pacific Dept. 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. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (45 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2020/211 Full text available on IMF http://elibrary.imf.org/view/journals/002/2020/211/002.2020.issue-211-en.xml IMF e-Library