The Bank of Papua New Guinea, the country’s central bank, is undergoing notable changes. Its Chairman, David Toua, comments on what’s behind the changes, the challenges faced by the bank and the road ahead for foreign exchange.
Opinion: reforms and new responsibilities at the Bank of Papua New Guinea
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22 May 2023 by Leave a Comment
New forex strategy promises gradual return to a floating currency in Papua New Guinea: IMF
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9 May 2023 by Leave a Comment
The recent decision by the International Monetary Fund (IMF) to approve US$918 million (K3.2 billion) in new funding to Papua New Guinea is helping to fast-track a solution to the country’s chronic foreign exchange shortages. Business Advantage PNG spoke with Sohrab Rafiq, the IMF’s new PNG representative, to learn more.
Opinion: How exposed is Papua New Guinea’s economy to a tiny cluster of companies?
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14 Feb 2023 by 2 Comments
Papua New Guinea relies heavily on a limited number of taxpayers. Paul Barker, Executive Director of industry-funded think tank, the Institute of National Affairs, considers the implications for government expenditure and PNG’s foreign exchange situation.
2023: what can Papua New Guinea business expect from the year ahead?
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18 Jan 2023 by Leave a Comment
Business Advantage PNG looks to the year ahead and considers what Papua New Guinea-focused businesses can expect in the coming 12 months.
What does Papua New Guinea business want from the new Marape government?
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5 Oct 2022 by Leave a Comment
With its majority established in Parliament and its ministry appointed, Papua New Guinea’s Marape government is now getting back to the business of running the country. Key business leaders tell Business Advantage PNG what they think its priorities should be.
Analysis: Papua New Guinea’s ‘stuck’ exchange rate
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11 May 2022 by 3 Comments
Is Papua New Guinea’s kina exchange rate stuck? Stephen Howes, Director of the Development Policy Centre and a Professor of Economics at the Crawford School, considers if the kina really is a ‘floating’ currency and calls for foreign exchange reforms to stimulate PNG’s economy.
Gradual devaluation of Papua New Guinea’s currency would be ‘helpful’, says banker
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9 Jun 2021 by 7 Comments
Papua New Guinea’s currency, the kina, has been steady this year after weakening against a number of major currencies in late 2020. Should it be devalued further? We asked Jonathan Prince, Treasurer at Westpac PNG, to consider the consequences.
Foreign exchange rationing in Papua New Guinea: six years on
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21 Apr 2021 by Leave a Comment
Rohan Fox, Research Officer at the Development Policy Centre and former Lecturer at the University of Papua New Guinea, analyses PNG’s foreign exchange shortages and rationing, and explains why the problem doesn’t seem to be getting better.
We need more competition, says Bank South Pacific CEO
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11 Mar 2021 by Leave a Comment
Bank South Pacific has just announced its 2020 financial results amid tough trading conditions. CEO Robin Fleming talks to us about the bank’s plans for 2021, foreign exchange shortages, and the need for greater competition.
Papua New Guinea facing a ’triple crisis’, says World Bank economist
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3 Mar 2021 by Leave a Comment
Papua New Guinea has been dealing with a ’triple crisis’, according to Ilyas Sarsenov, Country Economist for the World Bank in PNG. Speaking at a Business Advantage PNG online briefing, he said that the economy has fallen well below previous growth forecasts.
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