Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Papua New Guinea 01 01 - Liquidity Support PGK
Papua New Guinea 01A 01A - Short-term lending PGK
Papua New Guinea 01B 01B - Support policies for short-term lending PGK IMF. (accessed 8 May 2020).

No amount/estimate: The Bank of Papua New Guinea (BPNG) has reduced the Cash Reserve Requirement to 7% from 10% to provide additional liquidity to the commercial banks.

Papua New Guinea 01C 01C - Forex operations PGK
Papua New Guinea 02 02 - Credit creation PGK
Papua New Guinea 02A 02A - Financial sector lending/funding PGK
Papua New Guinea 02B 02B - Support policies for long-term lending PGK
Papua New Guinea 02B1 02B1 - Interest rate adjustments PGK IMF. (accessed 1 May 2020).

No estimate/amount: (i) 30 March 2020, BPNG has reduced the Kina Facility Rate (KFR) – the main policy rate - by 200 basis points to 3% from 5% and has asked the commercial banks to reduce their respective Indicator Lending Rates; (ii) To encourage interbank activity, BPNG has increased the margin on central bank borrowing by 25 basis points to 100 basis points of both sides of KFR.

Papua New Guinea 02B2 02B2 - Other policies to support long-term lending PGK
Papua New Guinea 02C 02C - Loan guarantees PGK
Papua New Guinea 03 03 - Direct long-term lending PGK 600,000,000 176,097,676
Papua New Guinea 03A 03A - Long-term lending PGK 600,000,000 176,097,676 IMF. (accessed 8 May 2020).

The government has announced PGK600 million credit line to support businesses and individuals in coordination with the banks and financial institutions.

Papua New Guinea 03B 03B - Forbearance PGK IMF. (accessed 8 May 2020).

No amount/estimate: The government is working with the commercial banks to provide a 3-month buffer on loan repayments. To cover for the 3-month loan repayment holiday, BPNG will relax prudential standards relating to asset quality, capital adequacy and loan-loss provisioning.

Papua New Guinea 04 04 - Equity support PGK
Papua New Guinea 05 05 - Health and income support PGK 510,000,000 149,683,024
Papua New Guinea 05A 05A - Health support PGK 10,000,000 2,934,961 World Bank. (accessed 7 April 2020).

PGK10 million was released to the National Department of Health.

Papua New Guinea 05B 05B - Income support PGK 500,000,000 146,748,063
Papua New Guinea 05B1 05B1 - Tax and contribution deferrals and policy changes PGK 500,000,000 146,748,063 IMF. (accessed 1 May 2020).

No amount/estimate: The government has asked the superannuation funds to allow members who have been laid off from work due to COVID-19 to access their savings. On April 8, Superfunds announced that its members whose employment was terminated by their employer as a result of COVID-19 will be entitled to a one-off payment of 20% of the member’s contribution (PGK500 million support from superannuation savings to employees affected by the economic slowdown).

Papua New Guinea 05B2 05B2 - Tax and contribution rates reduction PGK
Papua New Guinea 05B3 05B3 - Subsidies to individuals and households PGK
Papua New Guinea 05B4 05B4 - Subsidies to businesses PGK
Papua New Guinea 05B5 05B5 - Indirect income support PGK
Papua New Guinea 05B6 05B6 - No breakdown (income support) PGK
Papua New Guinea 05C 05C - No breakdown (health and income support) PGK
Papua New Guinea 06 06 - Budget reallocation PGK
Papua New Guinea 07 07 - Central bank financing government PGK
Papua New Guinea 07A 07A - Direct lending and reserve drawdown PGK
Papua New Guinea 07B 07B - Secondary purchase: government securities PGK IMF. (accessed 8 May 2020).

No amount/estimate: BPNG has announced its intention to repurchase government securities in an open market quantitative easing program to provide liquidity to the holders of the instruments.

Papua New Guinea 08 08 - International Assistance Received PGK 2,372,075,604 696,195,000
Papua New Guinea 08A 08A - Swaps PGK
Papua New Guinea 08B 08B - International loans/grants PGK 2,372,075,604 696,195,000
Papua New Guinea 08B1 08B1 - Asian Development Bank PGK 1,049,587,960 308,050,000 ADB. Table A1.2: Sovereign Lending and Asian Development Fund Grant Operations (as of 12 December 2020); ADB. Table A1.4: Asia Pacific Disaster Response Fund and Technical Assistance (as of 9 January 2021) ADB. Table A1.5: Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases (as of 17 July 2020).

(i) 8 April 2020, TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases USD0.85 million for Papua New Guinea; (ii) 15 April 2020, USD0.08 million technical assistance under Strengthening Social Protection in the Pacific ; (iii) 24 April 2020, USD0.13 million technical assistance under Developing the Pacific Health Sector (Additional Financing); (iv) 5 June 2020, USD0.14 million technical assistance under Pacific Economic Management (Additional Financing); (v) 24 June 2020, USD0.5 million technical assitance under Support for Water and Sanitation Sector Management (Additional Financing); (vi) June 30, USD0.10 million techinal assistance under Quality Jobs and the Future of Work; (vii) 1 July 2020, USD0.15 million techical assistance under Promoting Digital Finance Solutions for Inclusive Finance among Partner Financial Institutions; (viii) 29 July 2020, USD3 million under COVID-19 Emergency Response; (ix) 10 August 2020, USD2.66 million under Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific; (x) 12 August 2020, USD0.06 million technical assitance under "Support for gender sensitive responses to COVID-19 in the Pacific Developing Member Countries; (xi) 2 December 2020, USD0.03 million technical assistnace under Promoting Transformative Gender Equality Agenda in Asia and the Pacific.; (xii) 8 December 2020, USD250 million COVID-19 Rapid Response Program. ; (xiii) 8 December 2020, USD50 million Health Services Sector Development Program. (xiv) 17 December 2020, USD0.35 million technical assistance under "Supporting MSMEs in the Pacific from the Effects of COVID-19 Pandemic".

Papua New Guinea 08B2 08B2 - Other PGK 1,322,487,644 388,145,000 World Bank. (accessed 20 April 2020). US Embassy in Georgia. (accessed 27 May 2020). United Nations MPTF. (accessed 28 May 2020). USAID. (accessed 29 May 2020). IMF. (9 June 2020). Club de Paris. (accessed 07 January 2021).

(i) 10 April 2020, USD20 million World Bank COVID-19 Emergency Response Project, IDA credit; (ii) 17 April 2020, USD1.2 million from USAID to prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, risk communication, infection prevention and control, and more; (iv) May 2020, USAID support to date increased to USD3.55 million; (v) 20 May 2020, USD995,593 UN COVID-19 Response & Recovery Fund for Integrating WASH, Nutrition, MNH interventions for COVID-19 Response in Western Province, Papua New Guinea; (vi) 9 June 2020, USD363.6 million to help cover balance of payments needs; (vii) 23 December 2020, Paris Club granted suspension of debt service due from 1 January to 30 June 2021.

Papua New Guinea 09 09 - International Assistance Provided PGK
Papua New Guinea 09A 09A - Swaps PGK
Papua New Guinea 09B 09B - International loans/grants PGK
Papua New Guinea 10 10 - No breakdown PGK 4,490,000,000 1,317,797,605 IMF. (accessed 8 May 2020).

On 2 April 2020, the PNG government announced a PGK5.6 billion economic stimulus package in the parliament. PGK4.49 billion is equal to PGK5.6 billion less PGK600 million credit line (see Measure 3), PGK500 million support from superannuation savings (see Non-Health in Measure 5), and PGK10 million for health (see Health in Measure 5).

Papua New Guinea 11 11 - Other Economic Measures PGK
Papua New Guinea 12 12 - Non-Economic Measures PGK
Papua New Guinea 12A 12A - Measures affecting travel and transport (local and international) PGK IMF. (accessed 8 May 2020).

(i) The government had started imposing containment measures since early February, including (a) a ban on travelers from Asian countries, (b) reduced international flights, (c) mandatory health declaration forms for incoming travelers and enhanced screening at designated ports of entries; (ii) April 2, the PNG parliament voted to shutdown the country and extended the state of emergency which started on March 24 for further two months.

Papua New Guinea 12B 12B - Measures affecting business and workplace PGK
Papua New Guinea 12C 12C - Others PGK