Foreign exchange has gone from being a big business problem to becoming a major impediment for all businesses in Papua New Guinea. What does the future hold for this and other challenges facing business?
Economy & Investment
Oil and gas prices both fell this month, with LNG dropping particularly sharply, while gold and cocoa are holding their own in a tough market for commodities.
Westpac Bank’s Senior Economist Justin Smirk identifies five key highlights from Business Advantage’s PNG 100 CEO Survey of chief executives in the country’s biggest companies.
A new World Bank report details a worsening of Papua New Guinea’s economic prospects and finances. It says that the country is ‘steadily’ losing foreign exchange.
As talks between ExxonMobil and Papua New Guinea’s State Negotiating Team over the P’nyang gas project reach their nominated ‘walk away’ deadline today, the Prime Minister, James Marape, has said he is confident that LNG will help underpin economic growth in the country for the next decade.
Although the extractive sector continues to be responsible for the bulk of Papua New Guinea’s exports, the latest Papua New Guinea Extractive Industries Transparency Initiative report has found that revenues to government remain comparatively small. Here’s what you need to know.
With experts forecasting slow economic growth in 2020, Papua New Guinea’s economy may be facing a temporary loss of momentum. David James examines two new economic reports and what they may mean for business.
The Bank of Papua New Guinea is looking to sell government debt to international and local investors. Its Governor, Loi Bakani, outlines the challenges to Business Advantage PNG and their connection to PNG’s ongoing foreign exchange shortages.
The Papua New Guinea Government has tabled its 2020 Budget, forecasting a big deficit designed to stimulate growth in the non-resources sector of the economy.
Oil and palm oil prices have strengthened but LNG continues to fall. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.