Debt Management Performance Assessment : Papua New Guinea
At the request of the Government of Papua New Guinea (PNG), a mission comprised of Jeff Chelsky (PRMVP, mission lead), Tomas Magnusson (BDM, consultant), Greg Horman (BDM, consultant) and Tim Bulman (EAP, country economist), visited Port Moresby be...
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| Format: | Economic & Sector Work |
| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/12/18132169/papua-new-guinea-debt-management-performance-assessment-dempa http://hdl.handle.net/10986/16227 |
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okr-10986-16227 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ANNUAL BORROWING PLAN AUCTION AUCTIONS BALANCE SHEET BANK ACCOUNT BANK ACCOUNTS BANK BRANCH BANK DEPOSITS BEARER BONDS BID BIDS BONDS BORROWING PLAN BUDGET DEFICIT BUDGET DEFICITS BUDGET SURPLUSES CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL STOCK CASH BALANCE CASH BALANCES CASH FLOW CASH FLOWS CASH MANAGEMENT CENTRAL BANK CENTRAL BANK BILLS CENTRAL GOVERNMENT DEBT CENTRAL GOVERNMENT GUARANTEES COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL DEBT COMMODITY PRICE COMMODITY PRICES COMPETITIVE BIDDING CONTINGENT LIABILITIES COUPON CREDIT GROWTH CREDITOR CREDITORS CS CURRENCY CURRENCY COMPOSITION DEBT DEBT BURDEN DEBT CONTROLS DEBT DATA DEBT ISSUANCE DEBT MANAGEMENT DEBT MANAGEMENT ENTITY DEBT MANAGEMENT OPERATIONS DEBT MANAGEMENT STRATEGY DEBT RATIOS DEBT RECORDING DEBT REDUCTION DEBT REPORTING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT STOCK DEBT STRATEGY DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSIS DEBT TRANSACTIONS DEBTOR DEBTOR REPORTING SYSTEM DEBTORS DEFICIT FINANCING DEPOSIT DEPOSITS DERIVATIVES DEVELOPMENT BANK DISASTER RECOVERY DISBURSEMENTS DOMESTIC BORROWING DOMESTIC DEBT DOMESTIC DEBT ISSUANCE DOMESTIC DEBT MARKET DOMESTIC MARKET EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXTERNAL BORROWING EXTERNAL BORROWINGS EXTERNAL DEBT EXTERNAL DEBT SERVICE EXTERNAL FINANCING EXTERNAL LOANS FINANCES FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL POLICY FINANCIAL PRODUCTS FINANCIAL RISK FINANCING COST FISCAL DEFICIT FISCAL POLICY FIXED RATES FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN CURRENCY LOANS FOREIGN CURRENCY RISK FOREIGN CURRENCY RISKS FOREIGN DIRECT INVESTMENT FUNDING SOURCE FUTURE CASH FLOWS GLOBAL MARKETS GOVERNMENT BANK GOVERNMENT BORROWINGS GOVERNMENT FINANCES GOVERNMENT FINANCING GOVERNMENT REVENUE GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS HUMAN DEVELOPMENT HUMAN RESOURCE INFLATION INFLATION RATE INFORMATION SHARING INTEREST PAYMENTS INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERNAL AUDIT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRANSACTIONS INVESTING INVESTMENT POLICY ISSUANCE OF BONDS ISSUANCE OF T-BILLS LANDOWNERS LEGAL FRAMEWORK LENDER LENDERS LENDING POLICY LEVEL OF DEBT LEVEL OF RISK LIQUIDITY MANAGEMENT LIVING STANDARDS LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN CONTRACT LOAN GUARANTEES LOAN TERMS LOCAL CURRENCY LOCAL ECONOMY LOCAL GOVERNMENTS LONG-TERM LOANS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MACROECONOMIC VOLATILITY MARKET BORROWING MARKET PARTICIPANTS MATURITIES MATURITY MAXIMUM MATURITY MONETARY FUND MONETARY POLICY MONEY MARKET MONEY MARKET RATES NON-PERFORMING LOAN NON-PERFORMING LOANS NPL OUTSTANDING LOAN OVERDRAFT OVERDRAFTS PAYMENT OF DEBT PAYMENT ORDER PENSION PENSION SYSTEM POLICY DESIGN PORTFOLIO PRICE STABILITY PRICE VOLATILITY PRIMARY MARKET PRINCIPAL REPAYMENTS PRIVATE INVESTMENT PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC SECTOR DEBT RECEIPT RECEIPTS REGISTRY SYSTEM REPAYMENT RESERVE RESERVE REQUIREMENTS RESERVES RETAIL INVESTORS RISK MANAGEMENT RISK OF DEBT SECONDARY MARKET SECONDARY MARKET IN GOVERNMENT SECURITIES SECONDARY MARKET TRANSACTION SETTLEMENT SETTLEMENT OF TRANSACTIONS SHORT-TERM LIQUIDITY SOCIAL SECURITY SOURCE OF FUNDS STATUTORY REQUIREMENT STATUTORY REQUIREMENTS STOCKS T-BILL T-BILLS T-BONDS TECHNICAL ASSISTANCE TECHNICAL SUPPORT TELECOMMUNICATIONS TERM CREDIT TERM DEPOSITS TOTAL DEBT TRADING TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS TREASURY BONDS TRUST FUNDS USE OF DERIVATIVES |
| spellingShingle |
ACCOUNTING ANNUAL BORROWING PLAN AUCTION AUCTIONS BALANCE SHEET BANK ACCOUNT BANK ACCOUNTS BANK BRANCH BANK DEPOSITS BEARER BONDS BID BIDS BONDS BORROWING PLAN BUDGET DEFICIT BUDGET DEFICITS BUDGET SURPLUSES CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL STOCK CASH BALANCE CASH BALANCES CASH FLOW CASH FLOWS CASH MANAGEMENT CENTRAL BANK CENTRAL BANK BILLS CENTRAL GOVERNMENT DEBT CENTRAL GOVERNMENT GUARANTEES COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL DEBT COMMODITY PRICE COMMODITY PRICES COMPETITIVE BIDDING CONTINGENT LIABILITIES COUPON CREDIT GROWTH CREDITOR CREDITORS CS CURRENCY CURRENCY COMPOSITION DEBT DEBT BURDEN DEBT CONTROLS DEBT DATA DEBT ISSUANCE DEBT MANAGEMENT DEBT MANAGEMENT ENTITY DEBT MANAGEMENT OPERATIONS DEBT MANAGEMENT STRATEGY DEBT RATIOS DEBT RECORDING DEBT REDUCTION DEBT REPORTING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT STOCK DEBT STRATEGY DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSIS DEBT TRANSACTIONS DEBTOR DEBTOR REPORTING SYSTEM DEBTORS DEFICIT FINANCING DEPOSIT DEPOSITS DERIVATIVES DEVELOPMENT BANK DISASTER RECOVERY DISBURSEMENTS DOMESTIC BORROWING DOMESTIC DEBT DOMESTIC DEBT ISSUANCE DOMESTIC DEBT MARKET DOMESTIC MARKET EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXTERNAL BORROWING EXTERNAL BORROWINGS EXTERNAL DEBT EXTERNAL DEBT SERVICE EXTERNAL FINANCING EXTERNAL LOANS FINANCES FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL POLICY FINANCIAL PRODUCTS FINANCIAL RISK FINANCING COST FISCAL DEFICIT FISCAL POLICY FIXED RATES FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN CURRENCY LOANS FOREIGN CURRENCY RISK FOREIGN CURRENCY RISKS FOREIGN DIRECT INVESTMENT FUNDING SOURCE FUTURE CASH FLOWS GLOBAL MARKETS GOVERNMENT BANK GOVERNMENT BORROWINGS GOVERNMENT FINANCES GOVERNMENT FINANCING GOVERNMENT REVENUE GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS HUMAN DEVELOPMENT HUMAN RESOURCE INFLATION INFLATION RATE INFORMATION SHARING INTEREST PAYMENTS INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERNAL AUDIT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRANSACTIONS INVESTING INVESTMENT POLICY ISSUANCE OF BONDS ISSUANCE OF T-BILLS LANDOWNERS LEGAL FRAMEWORK LENDER LENDERS LENDING POLICY LEVEL OF DEBT LEVEL OF RISK LIQUIDITY MANAGEMENT LIVING STANDARDS LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN CONTRACT LOAN GUARANTEES LOAN TERMS LOCAL CURRENCY LOCAL ECONOMY LOCAL GOVERNMENTS LONG-TERM LOANS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MACROECONOMIC VOLATILITY MARKET BORROWING MARKET PARTICIPANTS MATURITIES MATURITY MAXIMUM MATURITY MONETARY FUND MONETARY POLICY MONEY MARKET MONEY MARKET RATES NON-PERFORMING LOAN NON-PERFORMING LOANS NPL OUTSTANDING LOAN OVERDRAFT OVERDRAFTS PAYMENT OF DEBT PAYMENT ORDER PENSION PENSION SYSTEM POLICY DESIGN PORTFOLIO PRICE STABILITY PRICE VOLATILITY PRIMARY MARKET PRINCIPAL REPAYMENTS PRIVATE INVESTMENT PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC SECTOR DEBT RECEIPT RECEIPTS REGISTRY SYSTEM REPAYMENT RESERVE RESERVE REQUIREMENTS RESERVES RETAIL INVESTORS RISK MANAGEMENT RISK OF DEBT SECONDARY MARKET SECONDARY MARKET IN GOVERNMENT SECURITIES SECONDARY MARKET TRANSACTION SETTLEMENT SETTLEMENT OF TRANSACTIONS SHORT-TERM LIQUIDITY SOCIAL SECURITY SOURCE OF FUNDS STATUTORY REQUIREMENT STATUTORY REQUIREMENTS STOCKS T-BILL T-BILLS T-BONDS TECHNICAL ASSISTANCE TECHNICAL SUPPORT TELECOMMUNICATIONS TERM CREDIT TERM DEPOSITS TOTAL DEBT TRADING TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS TREASURY BONDS TRUST FUNDS USE OF DERIVATIVES World Bank Debt Management Performance Assessment : Papua New Guinea |
| geographic_facet |
East Asia and Pacific Papua New Guinea |
| description |
At the request of the Government of
Papua New Guinea (PNG), a mission comprised of Jeff Chelsky
(PRMVP, mission lead), Tomas Magnusson (BDM, consultant),
Greg Horman (BDM, consultant) and Tim Bulman (EAP, country
economist), visited Port Moresby between November 22nd and
December 3rd to undertake a DeMPA exercise. The team met
with officials from the Department of Treasury, Bank of
Papua New Guinea, Department of Finance, Department of
National Planning and Monitoring, State Solicitor's
Office, Auditor General's Office, Independent Public
Business Corporation (IPBC), AUSAid, Asian Development Bank,
ANZ Bank, Nambawan Super, and Bank South Pacific (BSP). This
report reflects comments received from the PNG authorities
in February 2011. The mission found that, in a number of
areas, PNG meets or exceeds minimum DeMPA requirements.
Strengths include the quality of the debt management
strategy, the framework for domestic debt issuance,
coordination with monetary policy, and the legal framework
(except for the issuance of T-bills for which the law
contains no explicit borrowing purposes). Looking ahead,
the Government has expressed its intention, as part of the
2011 budget and its updated 2011 Medium-term Debt Management
Strategy, to remove the nominal cap on external debt,
replacing it with a cap of 30 percent of Gross Domestic
Product, or GDP. The commitment to allocate a portion of
excess government revenue to debt reduction will only apply
when the debt-to-GDP ratio exceeds 30 percent of GDP. At the
same time, the Government has reiterated its commitment to
reducing the exchange rate risks to its debt portfolio by
targeting 40 percent of total debt over the medium term for
the external portion of the portfolio. Interest rate risk
will be reduced through continued efforts to extend the
maturity of domestic debt. |
| format |
Economic & Sector Work |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Debt Management Performance Assessment : Papua New Guinea |
| title_short |
Debt Management Performance Assessment : Papua New Guinea |
| title_full |
Debt Management Performance Assessment : Papua New Guinea |
| title_fullStr |
Debt Management Performance Assessment : Papua New Guinea |
| title_full_unstemmed |
Debt Management Performance Assessment : Papua New Guinea |
| title_sort |
debt management performance assessment : papua new guinea |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2010/12/18132169/papua-new-guinea-debt-management-performance-assessment-dempa http://hdl.handle.net/10986/16227 |
| _version_ |
1764432562866880512 |
| spelling |
okr-10986-162272021-04-23T14:03:28Z Debt Management Performance Assessment : Papua New Guinea World Bank ACCOUNTING ANNUAL BORROWING PLAN AUCTION AUCTIONS BALANCE SHEET BANK ACCOUNT BANK ACCOUNTS BANK BRANCH BANK DEPOSITS BEARER BONDS BID BIDS BONDS BORROWING PLAN BUDGET DEFICIT BUDGET DEFICITS BUDGET SURPLUSES CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL STOCK CASH BALANCE CASH BALANCES CASH FLOW CASH FLOWS CASH MANAGEMENT CENTRAL BANK CENTRAL BANK BILLS CENTRAL GOVERNMENT DEBT CENTRAL GOVERNMENT GUARANTEES COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL DEBT COMMODITY PRICE COMMODITY PRICES COMPETITIVE BIDDING CONTINGENT LIABILITIES COUPON CREDIT GROWTH CREDITOR CREDITORS CS CURRENCY CURRENCY COMPOSITION DEBT DEBT BURDEN DEBT CONTROLS DEBT DATA DEBT ISSUANCE DEBT MANAGEMENT DEBT MANAGEMENT ENTITY DEBT MANAGEMENT OPERATIONS DEBT MANAGEMENT STRATEGY DEBT RATIOS DEBT RECORDING DEBT REDUCTION DEBT REPORTING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT STOCK DEBT STRATEGY DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSIS DEBT TRANSACTIONS DEBTOR DEBTOR REPORTING SYSTEM DEBTORS DEFICIT FINANCING DEPOSIT DEPOSITS DERIVATIVES DEVELOPMENT BANK DISASTER RECOVERY DISBURSEMENTS DOMESTIC BORROWING DOMESTIC DEBT DOMESTIC DEBT ISSUANCE DOMESTIC DEBT MARKET DOMESTIC MARKET EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXTERNAL BORROWING EXTERNAL BORROWINGS EXTERNAL DEBT EXTERNAL DEBT SERVICE EXTERNAL FINANCING EXTERNAL LOANS FINANCES FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL POLICY FINANCIAL PRODUCTS FINANCIAL RISK FINANCING COST FISCAL DEFICIT FISCAL POLICY FIXED RATES FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN CURRENCY LOANS FOREIGN CURRENCY RISK FOREIGN CURRENCY RISKS FOREIGN DIRECT INVESTMENT FUNDING SOURCE FUTURE CASH FLOWS GLOBAL MARKETS GOVERNMENT BANK GOVERNMENT BORROWINGS GOVERNMENT FINANCES GOVERNMENT FINANCING GOVERNMENT REVENUE GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS HUMAN DEVELOPMENT HUMAN RESOURCE INFLATION INFLATION RATE INFORMATION SHARING INTEREST PAYMENTS INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERNAL AUDIT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRANSACTIONS INVESTING INVESTMENT POLICY ISSUANCE OF BONDS ISSUANCE OF T-BILLS LANDOWNERS LEGAL FRAMEWORK LENDER LENDERS LENDING POLICY LEVEL OF DEBT LEVEL OF RISK LIQUIDITY MANAGEMENT LIVING STANDARDS LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN CONTRACT LOAN GUARANTEES LOAN TERMS LOCAL CURRENCY LOCAL ECONOMY LOCAL GOVERNMENTS LONG-TERM LOANS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MACROECONOMIC VOLATILITY MARKET BORROWING MARKET PARTICIPANTS MATURITIES MATURITY MAXIMUM MATURITY MONETARY FUND MONETARY POLICY MONEY MARKET MONEY MARKET RATES NON-PERFORMING LOAN NON-PERFORMING LOANS NPL OUTSTANDING LOAN OVERDRAFT OVERDRAFTS PAYMENT OF DEBT PAYMENT ORDER PENSION PENSION SYSTEM POLICY DESIGN PORTFOLIO PRICE STABILITY PRICE VOLATILITY PRIMARY MARKET PRINCIPAL REPAYMENTS PRIVATE INVESTMENT PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC SECTOR DEBT RECEIPT RECEIPTS REGISTRY SYSTEM REPAYMENT RESERVE RESERVE REQUIREMENTS RESERVES RETAIL INVESTORS RISK MANAGEMENT RISK OF DEBT SECONDARY MARKET SECONDARY MARKET IN GOVERNMENT SECURITIES SECONDARY MARKET TRANSACTION SETTLEMENT SETTLEMENT OF TRANSACTIONS SHORT-TERM LIQUIDITY SOCIAL SECURITY SOURCE OF FUNDS STATUTORY REQUIREMENT STATUTORY REQUIREMENTS STOCKS T-BILL T-BILLS T-BONDS TECHNICAL ASSISTANCE TECHNICAL SUPPORT TELECOMMUNICATIONS TERM CREDIT TERM DEPOSITS TOTAL DEBT TRADING TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS TREASURY BONDS TRUST FUNDS USE OF DERIVATIVES At the request of the Government of Papua New Guinea (PNG), a mission comprised of Jeff Chelsky (PRMVP, mission lead), Tomas Magnusson (BDM, consultant), Greg Horman (BDM, consultant) and Tim Bulman (EAP, country economist), visited Port Moresby between November 22nd and December 3rd to undertake a DeMPA exercise. The team met with officials from the Department of Treasury, Bank of Papua New Guinea, Department of Finance, Department of National Planning and Monitoring, State Solicitor's Office, Auditor General's Office, Independent Public Business Corporation (IPBC), AUSAid, Asian Development Bank, ANZ Bank, Nambawan Super, and Bank South Pacific (BSP). This report reflects comments received from the PNG authorities in February 2011. The mission found that, in a number of areas, PNG meets or exceeds minimum DeMPA requirements. Strengths include the quality of the debt management strategy, the framework for domestic debt issuance, coordination with monetary policy, and the legal framework (except for the issuance of T-bills for which the law contains no explicit borrowing purposes). Looking ahead, the Government has expressed its intention, as part of the 2011 budget and its updated 2011 Medium-term Debt Management Strategy, to remove the nominal cap on external debt, replacing it with a cap of 30 percent of Gross Domestic Product, or GDP. The commitment to allocate a portion of excess government revenue to debt reduction will only apply when the debt-to-GDP ratio exceeds 30 percent of GDP. At the same time, the Government has reiterated its commitment to reducing the exchange rate risks to its debt portfolio by targeting 40 percent of total debt over the medium term for the external portion of the portfolio. Interest rate risk will be reduced through continued efforts to extend the maturity of domestic debt. 2013-11-06T20:48:59Z 2013-11-06T20:48:59Z 2010-12 http://documents.worldbank.org/curated/en/2010/12/18132169/papua-new-guinea-debt-management-performance-assessment-dempa http://hdl.handle.net/10986/16227 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Debt Management Performance Assessment East Asia and Pacific Papua New Guinea |