Former IMF Representative Celebrates Papua New Guinea’s Economic Growth and Progress [Video]

Farewell to a Visionary: Sohrab Rafiq Reflects on His Tenure at the IMF in Papua New Guinea

Papua New Guinea has witnessed significant strides in its economic landscape, and at the heart of this transformation has been Sohrab Rafiq, the International Monetary Fund’s (IMF) Resident Representative in the country since early 2023. As Rafiq prepares to leave his post, he took the time to share his insights on the positive impacts of the IMF’s programs in a thought-provoking interview with Africazine.

During his time in PNG, Rafiq has been instrumental in helping the nation navigate challenges related to economic growth, government finances, inflation, and foreign exchange availability. His latest reflection highlights a period of positive improvement in these critical areas, demonstrating a bright outlook for the island nation.

Rafiq noted that the government has made commendable efforts to bolster its financial position, which resulted in not only improved public service delivery but also a more robust international risk profile. The ongoing efforts to enhance economic stability are paving the way for attracting international investments and fostering sustainable development. According to Rafiq, “The commitment from the government to implementing key reforms is commendable, and it sets a solid foundation for future growth.” This sentiment speaks to the potential of PNG to thrive in the global economic landscape.

One of the focal points of the interview was the noticeable progress in inflation control and foreign exchange availability, which were recent challenges for the country. Rafiq applauded the government’s initiatives that address these issues, emphasizing their importance in ensuring economic resilience and stability.

For those interested in hearing Rafiq’s full insights and reflections on his tenure, the exclusive interview can be watched here. His departure marks not just a farewell, but also an optimistic moment for PNG as it continues its journey toward economic modernization and prosperity.

Papua New Guinea’s ongoing evolution is a testament to the power of collaboration between nations and institutions, and it is evident that with proactive leadership, the country is well-positioned to seize opportunities on the international stage.

Stay tuned as Papua New Guinea embraces the future with optimism and continued development!

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