Sound familiar? Papua New Guinea is attempting to nab a loan from the World Bank “rather than accepting the advice of the acknowledged crisis lender, the International Monetary Fund,” as it finds itself short on FX, the Financial Times (paywall) writes. The country gets USD “without the stigma of borrowing from the IMF” and the bank “occupies itself at a time that its core mission of development finance has been substantially eroded.” The World Bank is simply drawing itself into problems it cannot solve as the country pretends “that what is at heart a macroeconomic foreign exchange problem can be resolved through microeconomic intervention.”