The International Monetary Fund has confirmed signs of a turn around in the Papua New Guinea economy.
The Post Courier newspaper quotes IMF Deputy Managing Director, Agustin Carsten, as saying he is impressed by the country's progress in restoring macro-economic stability in the past few years.
He says the government has markedly reduced the budget deficit by tightening expenditure controls, the Reserve Bank has maintained policies which have helped reduce inflation, and best practices in expenditure management have been adopted.
Mr Carsten says the country now faces the challenge of building on those achievements to attain and sustain more rapid and broad-based economic growth to raise the living standards of all its people.
