Papua New Guinea businesses still face serious forex delays, despite interventions

PNG banks and businesses tell Business Advantage PNG of considerable variation in wait times for foreign exchange, as the country's central bank acknowledges the economic damage caused. We look at the prospects for improvement.
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Economic update: Papua New Guinea’s decade of growth begins

As part of extensive in-country research for the newly-released 2024 edition of the Business Advantage PNG annual magazine, our editorial team spoke exclusively to dozens of Papua New Guinea business leaders to understand how they are preparing for imminent growth – and what challenges they face. Here’s what they told us.
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Forex, debt and governance: the IMF assesses Papua New Guinea’s progress

A year ago, the International Monetary Fund commenced a program in Papua New Guinea, focused on improving government debt, foreign exchange shortages and governance. Business Advantage PNG sits down with the IMF's Resident Representative in PNG, Sohrab Rafiq, to discuss progress on these three critical issues.
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Papua New Guinea faces higher fuel prices as shortages continue

Fuel buyers in Papua New Guinea have been warned to expect higher prices as the government negotiates with global suppliers to end shortages in the local market related to the winding back of Puma Energy's operations in the country. Meanwhile, short-term solutions are being put in place.
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Better times ahead on foreign exchange, says Bank of Papua New Guinea Acting Governor

September was another tough month for availability of foreign exchange in Papua New Guinea, but central bank Acting Governor Elizabeth Genia has moved to reassure business that the bank is committed to supporting the kina as it adjusts to a lower level against the US dollar. She's also flagging better times ahead on forex.
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