News

In brief: Papua New Guinea’s Central Bank increases Kina Facility Rate and other business stories

The Bank of Papua New Guinea has increased the Kina Facility Rate, Prime Minister Marape welcomes Telstra, and Phase II of the Central Banking Act gets green lighted. The business news you need today.
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Papua New Guinea’s economy set for medium term growth: IMF

Papua New Guinea's economy has weathered the COVID pandemic well, according to the International Monetary Fund's latest Article IV assessment, completed last week. While the assessment paints an improved picture over the medium term, it flags some key reforms that PNG's government still needs to address. 
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Supply chain causing major stress for Papua New Guinea’s businesses

Global supply chain issues are having a major impact on many businesses in Papua New Guinea. Business leaders tell Business Advantage PNG that delivery delays and higher costs are causing some projects to be slowed or even postponed in key sectors. There are signs, however, that the global situation is improving.
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In brief: Papua New Guinea’s Misima project goes for gold and other business stories

Kingston Resources announces strategic review of Misima gold project, Digicel takes PNG Government to court as Telstra takes control, and direct flights to Fiji and Solomons return. The business news you need today.
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