Between 2007 and 2013, falling participation by both men and women contributed to a 2 percentage point overall decline. Our falling participation rate stands out among advanced economies. While the United States was roughly in the middle of the pack among 32 economies as of 1995, in 2018 we ranked near the bottom (figure 6).
At the global level, we should support policies that address structural imbalances over the medium term including supportive monetary conditions, accelerating financial sector reform, and rebalancing global demand. Papua New Guinea, as a small open economy, was able to navigate the negative impact of the global financial crisis and grew by 5½ percent in 2009.