The global economic meltdown that has been triggered by the COVID-19 virus outbreak has hit Papua New Guinea hard. What are the implications for the country’s business and financial sectors?
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With the first case of COVID-19 in PNG announced at the weekend, there are warnings there could be essential-item shortages and changed working conditions, but business has been preparing for its arrival.
The economic fallout from the coronavirus (COVID-19) is creating havoc across world markets and economies. According to the ratings agency Fitch, Papua New Guinea’s formal economy will be affected, but the story could be different for its informal and local economy.