The Business Council of Papua New Guinea has present its latest macroeconomic outlook, which outlines the risks faced by PNG’s economy and what business needs to recover from the COVID-19 downturn.
No recession for Papua New Guinea post COVID-19, says Central Bank
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18 May 2020 by Leave a Comment
The Bank of Papua New Guinea in its latest Monetary Policy Statement is predicting that the Papua New Guinea economy will not go into recession this year and there will be a strong recovery next year. But it says that the COVID-19 pandemic has badly affected many of the key sectors in the economy.
In brief: Barrick removes Porgera mine’s production from guidance and other business stories
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11 May 2020 by Leave a Comment
Porgera mine output is removed from Barrick’s full year guidance, Westpac announces new division for Westpac Pacific and Australia and New Zealand agree on a ‘trans-Tasman COVID-safe’ travel zone. The business news you need to kick-start your week.
War chest: oversubscribed COVID-19 bond will help Papua New Guinea fight virus
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11 May 2020 by 2 Comments
The government’s COVID-19 bond was oversubscribed after the first week, according to Treasurer Ian Ling-Stuckey. He said over K1 billion was raised and that the money will help protect Papua New Guineans from the worst effects of the coronavirus pandemic.
Thinking about PNG’s COVID-19 economic response [opinion]
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4 May 2020 by 1 Comment
Three academics, Dek Joe Sum, Maholopa Laveil and Stephen Howes, analyse Papua New Guinea’s monetary easing measures in response to COVID-19.
Exclusive: Central Bank Governor on forex, COVID-19 and the future of the kina
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21 Apr 2020 by 6 Comments
Central Bank Governor, Loi Bakani, says Papua New Guinea is facing economic and financial challenges due to the outbreak of COVID-19. He speaks exclusively to Business Advantage PNG about how the Bank of PNG is responding.
Forex squeeze: is Papua New Guinea’s stable kina a liability?
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1 Apr 2020 by Leave a Comment
As a thinly traded currency, the kina has been protected from some of the volatility affecting world markets in the wake of COVID-19, but that presents its own set of problems.
Blast from the past: Papua New Guinea’s economy in 2020
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6 Mar 2020 by Leave a Comment
The year 2020 looks like being a watershed year for Papua New Guinea, with a number of transformative projects awaiting the green light and a new government seeking to implement an ambitious agenda.
Waiting for the party to begin: the future of Papua New Guinea’s National Development Bank
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10 Mar 2020 by Leave a Comment
In a wide-ranging chat with Business Advantage PNG, the Managing Director of Papua New Guinea’s state-owned National Development Bank, Moses Liu, talks about becoming an emerging force in Papua New Guinea’s banking sector.
LNG’s role in Papua New Guinea’s foreign exchange challenges
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17 Feb 2020 by Leave a Comment
The lack of foreign exchange is having a deep impact on Papua New Guinea’s financial system. A new World Bank report shows that mining is the biggest generator of foreign exchange in PNG, but what about LNG projects?
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