Category: Country PFM Updates
This section provides recent country-level public financial management (PFM) updates, including IMF Article IV reports and related analysis.
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Papua New Guinea’s poor and deteriorating financial management: can it be turned around?
By David Fellows and John Leonardo[1] Background on Papua New Guinea (PNG) Papua New Guinea (PNG) is a lower-middle-income economy heavily dependent upon commodity exports. It has an extremely diverse social structure with fierce clan loyalties, characteristics that provide severe challenges to the effective working of government that have not yet been successfully addressed.[2] [3]The…