The Government’s Mid-year Economic and Fiscal Outlook (MYEFO) statement has indicated that it is in the ‘advanced stages’ of negotiating the country’s first sovereign bond later this year. The strategy is being adopted to solve the nation’s foreign exchange shortages, but it does carry risks.
MYEFO report says Government wants to bring forward sovereign bond raising to solve forex shortages
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28 Aug 2018 by 1 Comment
Sharp rise in use of mobile financial services in Papua New Guinea
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17 Jul 2018 by Leave a Comment
The Governor of the Bank of Papua New Guinea, Loi Bakani, has told an APEC conference on improving financial literacy that the use of mobile phones for financial services is increasing sharply. But he said there is a need to strengthen consumer digital financial literacy and awareness in the country.
Bank of Papua New Guinea’s quarterly report indicates economy patchy
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6 Mar 2018 by Leave a Comment
The Bank of Papua New Guinea’s latest Quarterly Economic Bulletin points to a ‘slight improvement’ in economic activity in the September quarter driven by higher government expenditure and a marginal increase in private sector lending. It records an improvement in exports and commodity prices and a slowing in the increase of inflation, but lower employment levels.
Papua New Guinea must promote its financial system to the world, say financiers
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11 Oct 2017 by Leave a Comment
Leading financiers have called for better international marketing of the country’s financial system and assets. They told the Business Advantage Papua New Guinea Investment Conference, that it is an important step towards creating more mature financial markets.
Governor of Bank of PNG tells conference higher food production critical
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13 Sep 2017 by 4 Comments
Diversification of the Papua New Guinea economy is critical to maintaining economic growth according to Loi Bakani, the Governor of the Bank of Papua New Guinea. He told the PNG Investment Conference in Sydney that a particular area of concern is the high level of food imports.
In brief: Employment Act review underway, and other business stories
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5 Sep 2017 by Leave a Comment
Employment and IR laws under review, Police Commissioner appeals for end to blockade of Highlands Highway, and new Agriculture Minister promises to pursue K20m for coffee borer repair. Your weekly digest of the latest business news.
In brief: No new taxes, says Prime Minister, and other business stories
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22 Aug 2017 by Leave a Comment
O’Neill says Supplementary Budget won’t contain any new taxes, Oil Search MD says oil and gas sector could earn K60 billion over the next seven years, and central bank prepares to use block chain technology. Your weekly digest of the latest business news.
Join us in Sydney: Thomas, Pesce headline outstanding line-up for 2-in-1 investment conference
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26 Jul 2017 by Leave a Comment
We are really excited about the program we have put together for our first investment conference in two years, which includes two heavyweight keynote speakers plus an impressive cross-section of PNG and international business leaders.
Five questions to economist Rohan Fox on Papua New Guinea’s exchange rates and APEC 2018
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13 Jun 2017 by 4 Comments
Papua New Guinea needs greater flexibility in the exchange rate, Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics, explains to Business Advantage PNG. He believes APEC will be a boost to the economy but not enough to spark a general recovery.
Papua New Guinea economy stabilising, but financial stresses remain says Bank of PNG
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5 Jun 2017 by 1 Comment
The Papua New Guinea economy is gradually stabilising as it adjusts to the impact of the PNG LNG project, according to the Bank of PNG’s latest Monetary Policy Statement. Real economic growth is predicted to be 2.8 per cent, the kina has been steady, and the 2016 balance of payments was in surplus. But there are financial stresses, as David James reports.
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