BOJ dissenter Sato backs gradual rate increases without a fixed timetable
The policymaker opposed September's increase but said future moves should depend on consumption and income, according to a media report.
Papua New Guinea funding deal awaits IMF board approval
The staff-level agreement could unlock up to $189 million, including an immediate payment and financing for climate measures.
The International Monetary Fund said on October 6 that its staff had agreed with Papua New Guinea on final funding reviews that could release up to $189 million. The deal covers the ECF, EFF and RSF arrangements and remains subject to executive board approval.
A board endorsement would allow an immediate disbursement of about $82 million, plus climate financing of up to about $107 million. The IMF said those payments would bring cumulative funding disbursed to about $1.19 billion.
The fund projects 2026 real GDP growth at 3.1%, compared with 6.2% in 2025. It cited LNG production leveling off, El Nino's effects on agriculture and mining, and increased import costs caused by the Middle East war. Its forecast also puts headline inflation at 4.8%, an increase.
For end-June 2026, the IMF said every indicative target was met, while one quantitative performance criterion was missed. The government fell short of its first-half fiscal deficit target but approved a supplementary budget in September. It continues to aim for a 2026 deficit of 1.6 billion Papua New Guinea kina ($345.28 million).