LNG prices have surged clawing back earlier losses, while the oil price is steady and cocoa is also strong: Business Advantage PNG’s monthly overview of commodity and financial markets.
Economy & Investment
Two new reports have outlined the revenue challenges being faced by Papua New Guinea’s government in the face of the COVID-19 pandemic.
Papua New Guinea has a ‘tax mobilisation challenge’ if it is to deal with the financial challenges resulting from the COVID-19 crisis, according to a new Asian Development Bank report.
COVID-19 may have impacted the progress of Papua New Guinea’s rollout of the UN’s Sustainable Development Goals, but Prime Minister James Marape has made it clear that sustainability and progress go hand in hand, and business must play a role.
With Papua New Guinea’s government debt set to rise to over 40 per cent of GDP due of the COVID-19 crisis, the International Monetary Fund’s PNG Mission Chief, Scott Roger, explains how the IMF is helping the country get back on a sustainable financial course.
Presenting the latest World Bank economic update for Papua New Guinea, PNG country economist Ilyas Sarsenov says its government has responded well to the challenges of COVID-19 but hard choices lie ahead.
Oil and LNG prices have recovered to some extent and copper has also bounced back. Palm oil prices have strengthened but cocoa is weaker. Business Advantage PNG’s monthly overview of commodity and financial markets.
Oil Search, Papua New Guinea’s biggest company, has been suspended from trading on PNGX, the country’s stock exchange, amidst claims that it did not follow proper procedure in its recent capital raising – claims the company is refuting.
The oil price has been extremely weak but the fall in LNG prices has stabilised and palm oil is up: a monthly review of Papua New Guinea’s commodities and financial markets. Business Advantage PNG’s monthly overview of commodity and financial markets.
Papua New Guinea’s trade is likely to be sharply affected by the COVID-19 crisis and the closure of international borders, according to a report by the National Research Institute. It makes suggestions about how PNG’s traded sector can be supported.