After the coronavirus (COVID-19) arrived in Papua New Guinea this weekend, Prime Minister James Marape acted swiftly to shut the country down for 14 days – but what does that mean in practice?
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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.
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The rapid spread of the coronavirus COVID-19 has disrupted global economic activity and led to a fall in financial markets. But the story is very different for big companies in Papua New Guinea, although there will be some adverse impacts, especially in the oil and gas sector.
While Australia prepares its domestic interventions, it needs to spare some thought for the Pacific as well, say Alexandre Dayant and Jonathan Pryke from the Lowy Institute’s The Interpreter
As Papua New Guinea’s near neighbour, Australia, sees panic buying and mass event cancellations, PNG’s government and state-owned entities are using its global head start to set up a raft of new measures.