NA), Thomas PELIKA

International organization participation: ACP, APEC, AsDB, C, CP,
ESCAP, FAO, G-77, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO,
ILO, IMF, IMO, Intelsat, Interpol, IOC, ISO (correspondent), ITU, NAM,
Sparteca, SPC, SPF, UN, UNCTAD, UNESCO, UNIDO, UPU, WFTU, WHO, WIPO,
WMO, WTrO

Diplomatic representation in the US:
chief of mission: Ambassador Nagora Y. BOGAN
chancery: 3rd floor, 1615 New Hampshire Avenue NW, Washington, DC
20009
telephone: [1] (202) 745-3680
FAX : [1] (202) 745-3679

Diplomatic representation from the US:
chief of mission: Ambassador Arma Jane KARAER
embassy: Douglas Street, Port Moresby
mailing address: P. O. Box 1492, Port Moresby
telephone : [675] 321-1455
FAX: [675] 321-3423

Flag description: divided diagonally from upper hoist-side corner; the
upper triangle is red with a soaring yellow bird of paradise centered;
the lower triangle is black with five white five-pointed stars of the
Southern Cross constellation centered

Economy

Economy - overview: Papua New Guinea is richly endowed with natural
resources, but exploitation has been hampered by the rugged terrain
and the high cost of developing an infrastructure. Agriculture
provides a subsistence livelihood for the bulk of the population.
Mineral deposits, including oil, copper, and gold, account for 72% of
export earnings. Budgetary support from Australia and development aid
under World Bank auspices have helped sustain the economy. In 1995,
Port Moresby reached agreement with the IMF and World Bank on a
structural adjustment program, of which the first phase was
successfully completed in 1996. A second phase structural adjustment
loan will be negotiated in 1997. The structural adjustment program
includes liberalization of trade and investment policies, sustainable
development of the forestry sector, improvement of government planning
capacity and better delivery of public services. New gold and oil
projects are under development and planned to begin production in 1997
and 1998 respectively.

GDP: purchasing power parity - $10.7 billion (1996 est.)

GDP - real growth rate: 2.3% (1996 est.)

GDP - per capita: purchasing power parity - $2,400 (1996 est.)

GDP - composition by sector:
agriculture : 27%
industry: 42%
services: 31%

Inflation rate - consumer price index: 6% (1996 est.)

Labor force:
total: 1.941 million
by occupation: agriculture 64% (1993 est.)

Unemployment rate: NA%

Budget: