Lending interest rate in Papua New Guinea
Papua New Guinea: Lending interest rate was 8.3% in 2024. ▼ Falling
Lending interest rate in Papua New Guinea, 1983–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
In 2024, lending interest rate in Papua New Guinea stood at 8.3%.
Compared with earlier readings it is down 1.1% on the previous year and down 11.6% over ten years.
Over the whole period, lending interest rate in Papua New Guinea peaked at 18.9% in 1999 and was at its lowest, 7.6%, in 2021.
That places Papua New Guinea 79th out of 148 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 42 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 12.2% | 10.6% | 14.6% | 7 |
| 1990s | 13.8% | 9.2% | 18.9% | 10 |
| 2000s | 12.5% | 9.2% | 17.5% | 10 |
| 2010s | 9.5% | 8.4% | 10.8% | 10 |
| 2020s | 8.0% | 7.6% | 8.4% | 5 |
Countries ranked near Papua New Guinea
More financial sector data for Papua New Guinea
- Reserves excluding gold, foreign exchange (SDR), annual growth rate -3.29 % change on previous year (2024)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0882 SDR per US$ of GDP (2024)
- Reserves excluding gold, foreign exchange (SDR), per capita 256.88 SDR per person (2024)
- Reserves excluding gold (SDR), annual growth rate -3.31 % change on previous year (2024)
- Reserves excluding gold (SDR), per capita 256.98 SDR per person (2024)
- Total reserves (gold at market value) (SDR), annual growth rate -2.2 % change on previous year (2024)
- Total reserves (gold at market value) (SDR), per capita 268.89 SDR per person (2024)
- Total reserves (gold at national valuation) (SDR), annual growth rate -2.55 % change on previous year (2024)
- Total reserves (gold at national valuation) (SDR), per capita 264.96 SDR per person (2024)
- Total reserves (gold at national valuation) 2.80 billion SDR (2024)
Frequently asked questions
- What is lending interest rate in Papua New Guinea?
- Lending interest rate in Papua New Guinea was 8.3% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest lending interest rate recorded in Papua New Guinea?
- The highest recorded value was 18.9% in 1999.
- What is the lowest lending interest rate recorded in Papua New Guinea?
- The lowest recorded value was 7.6% in 2021.
- How does Papua New Guinea rank for lending interest rate?
- Papua New Guinea ranks 79th out of 148 countries with data for 2024.
- Is lending interest rate rising or falling in Papua New Guinea?
- Over the last ten years it is down 11.6%. The long-run trend across the full record is falling.
- Where does this Papua New Guinea data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Lending interest rate (%). Statizoid updates them automatically from the source API.
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About this data
Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.