IMF gives Papua New Guinea access to about $125 million

FILE PHOTO: International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas/File Photo

Source: X00866

The International Monetary Fund will provide Papua New Guinea with immediate access to about $125 million, the IMF said in a statement on Friday following its executive board's second review that cited "authorities' strong commitment to reforms."

"The program will continue to support Papua New Guinea’s reform agenda, help protect the vulnerable and foster inclusive growth, with a focus maintained on strengthening debt sustainability, alleviating FX shortages, and enhancing governance and anti-corruption frameworks," the IMF wrote.

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By Reuters