​PNG Surges Towards Economic Brilliance: Marape Woos IMF with Bold Reform Vision in Washington

Papua New Guinea has taken centre stage on the global economic front, as Prime Minister James Marape delivered a powerful pitch to the International Monetary Fund (IMF) in Washington, pledging unwavering commitment to economic reform, fiscal discipline, and debt sustainability.

At the IMF headquarters, Marape met with Deputy Managing Director Bo Li to showcase PNG’s reform successes—highlighting the clearance of the forex backlog, stabilisation of the kina, and revived investor confidence.

He declared PNG’s strategic shift away from commercial borrowing, aligning instead with credible partners like the IMF, World Bank, and ADB, all underpinned by transparency and discipline.

Bo Li and IMF staff applauded PNG’s "clarity of vision," projecting a GDP growth of 4.7% in 2025—driven by reforms and recovery across non-resource sectors.

IMF’s PNG representative, Sohrab Rafiq, stated that the government’s reform drive had already delivered measurable benefits, including a drop in public debt for the first time in over a decade.

Marape proposed further collaboration, including AI-powered transparency tools, renewable energy expansion, and regional gas supply initiatives.

He also stressed the importance of managing PNG’s Sovereign Wealth Fund with stronger governance and efficiency.

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