IMF Reaches Papua New Guinea Deal
The International Monetary Fund has reached a staff level agreement with Papua New Guinea that could unlock about 189 million dollars in funding. The country met most quantitative performance criteria despite expectations of slowing economic growth.
The IMF reached a staff-level agreement with Papua New Guinea on Tuesday, unlocking up to $189 million in funding. The payout depends on final approval from the IMF executive board. Total IMF funding to the country will reach $1.19 billion if cleared.
