Around the world: PNG politics/A-G speaks/currency wars/Davos


World 01Honeymoon over for PNG Government?

According to the Lowy Institute’s Informer blog the honeymoon period is now over for the O’Neill Government and ‘it’s business as usual in PNG politics.’

Interview with new Attorney-General

Papua New Guinea’s new attorney-general, Kerenga Kua, tells Radio Australia he wants to ensure transparency in the fight against corruption in his country.

Currency wars

With the kina already trading at high levels, the last thing PNG needs is the global currency war increasingly feared by analysts. In the wake of the global financial crisis, several of the world’s larger economies appear determined to drive down their currencies to make their exports cheaper, risking retaliatory action from their competitors, reports the UK’s Daily Telegraph.

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The consensus from the annual World Economic Forum in Davos seemed to be that the Eurozone crisis is under control, for the time being at least.

According to The Economist,

‘the general mood was at its most upbeat since January 2007 … Relief that most experts judged the financial crisis to be over at last outweighed concern that economic growth and job creation seems likely to remain sub-par for the forseeable future.’