Waiting times on foreign exchange orders have been falling substantially on central bank interventions and other factors, senior representatives of BSP Financial Group, Kina Bank and Westpac Papua New Guinea reveal to Business Advantage PNG.
Papua New Guinea’s economy
Business Advantage PNG looks to the year ahead and considers what Papua New Guinea-focused businesses can expect in the coming 12 months.
The Governor of Bank of Papua New Guinea has forecast a recovery for the country’s economy of 2.5 per cent after the sharp contraction of 2020. But he says the national budget and PNG’s foreign exchange reserves will remain under pressure.
Papua New Guinea’s Prime Minister, James Marape, has outlined his government’s goals for 2021, including building up infrastructure, undertaking ‘Budget repair’ and exploring ways to invest in domestic businesses.
An overview of development aid in Papua New Guinea, including the country’s main aid donors and types of aid.
An overview of landowner companies in Papua New Guinea and the role they play in PNG’s economy.
An overview of Papua New Guinea’s state-owned or ‘Kumul’ enterprises and investment companies, including its national oil and mining companies, utilities, national airline and telecommunications company.
An overview of multilateral financial institutions with active programs in Papua New Guinea, including the IMF, World Bank, International Monetary Fund and Asian Development Bank.
An overview of Papua New Guinea’s government securities, including treasury bills, central bank bills, inscribed stock and the country’s sovereign bond.
An overview of Papua New Guinea’s stock exchange, PNGX, including how to buy and sell shares, listing rules and contact information.
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