Renegotiating terms or refinancing are proving to be the best way to deal with the shock caused by COVID-19 according to Mark Baker, Managing Director of ANZ Bank Papua New Guinea. In an exclusive interview he tells Business Advantage PNG that improving confidence is the big challenge.
Reform is in the air in Papua New Guinea, with the country’s resources sector facing major legislative changes. On the other hand, the government faces its own reform challenges if it is to secure the funding it needs to address its budget deficit.
The Asian Development Bank is looking to provide as much as US$800 million (K2.8 billion) in new funding to support Papua New Guinea’s budget, according to its Country Director, David Hill.
The National Executive Council has given the nod to Papua New Guinea’s first special economic zone. Project Director Peter KenGemar tells Business Advantage PNG about how it could boost local jobs and investment
Kina Bank appoints two women to its executive team, Mayur Resources gets a new Non-Executive Director, Newcrest announces changes to its Board of Directors, Pacific Trade Invest appoints new marketing executive.
Looking at the trade-off between savings lives and saving money, female leaders offer citizens the best quality of life, and when will COVID stop? Readings from around the world on business, leadership and management.
Papua New Guinea’s Prime Minister talks business during Independence dinner, Tari Airport reopens and Treasurer Ian Ling-Stuckey on the Central Banking Act. The business news you need to know to kickstart your week.
Speaking at a Business Advantage PNG webinar, two of the region’s largest infrastructure investment funds – the Asian Development Bank and the new Australian Infrastructure Finance Facility for the Pacific – have announced major support for road and electricity projects in Papua New Guinea, with more to come.
Papua New Guinea’s agriculture sector has been adversely affected by the impact of COVID-19. But according to a report by ANZ Research, exports of agricultural commodities may rebound sharply next year.
With Papua New Guinea’s Mid-year Economic and Fiscal Outlook predicting government debt will rise to 55 per cent of GDP, its government has announced a supplementary budget to address numerous fiscal challenges. There are also moves for the central bank to print money to fund budget shortfalls.