A year ago, the International Monetary Fund commenced a program in Papua New Guinea, focused on improving government debt, foreign exchange shortages and governance. Business Advantage PNG sits down with the IMF’s Resident Representative in PNG, Sohrab Rafiq, to discuss progress on these three critical issues.
Forex, debt and governance: the IMF assesses Papua New Guinea’s progress
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13 Mar 2024 by Leave a Comment
Opinion: Is Papua New Guinea’s kina really depreciating?
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9 Feb 2024 by Leave a Comment
Amid fears of further declines in the value of Papua New Guinea’s currency, the kina, economists Bobby Kunda and Stephen Howes analyse how the kina has been performing against all its key trading currencies – and come to some surprising conclusions.
Economic growth is key to easing foreign exchange crunch, says Bank of Papua New Guinea Chairman
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31 Jan 2024 by Leave a Comment
Chairman of the Bank of PNG, David Toua, talks exclusively about reforms to the central bank, the foreign exchange situation, interest rates and the phasing out of bank cheques.
Take it to the bank: new Digizen ID card to drive financial inclusion in Papua New Guinea
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31 Jan 2024 by 3 Comments
Digizen ID, a new digital identification card developed specifically for PNG, could be a “game changer” for the vast majority of citizens who are locked out of financial services due to a lack of formal identification.
Better times ahead on foreign exchange, says Bank of Papua New Guinea Acting Governor
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11 Oct 2023 by 2 Comments
September was another tough month for availability of foreign exchange in Papua New Guinea, but central bank Acting Governor Elizabeth Genia has moved to reassure business that the bank is committed to supporting the kina as it adjusts to a lower level against the US dollar. She’s also flagging better times ahead on forex.
Bank of PNG changes tack on foreign exchange, but will it follow through? [opinion]
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26 Sep 2023 by Leave a Comment
Three welcome recent speeches from representatives of Papua New Guinea’s central bank suggest that it is starting to set out its plans for reform of the country’s troubled foreign exchange system, observes Stephen Howes. He suggests what should happen next.
No hard devaluation of the kina, says Bank of Papua New Guinea Governor
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21 Aug 2023 by Leave a Comment
With a new strategy to manage Papua New Guinea’s foreign exchange shortages expected soon, the Bank of Papua New Guinea’s Acting Governor, Elizabeth Genia, has moved to reassure business leaders that a devaluation of the country’s currency is not on the cards.
State of Emergency declared to ‘maintain and stabilise’ Papua New Guinea’s fuel supply
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2 Aug 2023 by 2 Comments
In direct response to the ongoing disruption of fuel supplies in Papua New Guinea, Petroleum Minister Kerenga Kua has declared an extraordinary 30-day State of Emergency.
Papua New Guinea’s currency flagged to continue ‘gentle’ fall
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5 Jul 2023 by Leave a Comment
The Papua New Guinea kina is starting to experience a very gradual erosion against its key trading currency, the US dollar.
In brief: Porgera’s Special Mining Lease application lodged and other business stories
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21 Jun 2023 by 1 Comment
Special Mining Lease application for the Porgera mine lodged, Japanese company JX Nippon to hold a stake of Papua LNG, and Papua New Guinea’s first green finance policy launched. Your business news in summary.
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