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Economy/Investment

SME credit fund role part of our Papua New Guinea social responsibility, says Kina Bank CEO

24 Apr 2018 by 1 Comment
Kina Bank is working with the Australian government and other donors to set up a credit fund for small and medium sized business. CEO Greg Pawson has told business leaders in Port Moresby the scheme is part of the bank’s corporate responsibility.
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Standard & Poor’s lowers Papua New Guinea’s rating

24 Apr 2018 by Leave a Comment
S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to 'B' from 'B+', but it believes the outlook is 'stable'. The agency points to bigger than expected fiscal deficits because of 'a loss of revenue and reconstruction costs after a recent earthqu
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How Maori landowners access development finance 

18 Apr 2018 by Leave a Comment
Accessing finance to develop land in Papua New Guinea is the biggest stumbling block to creating wealth, jobs and an economic base for future generations. In New Zealand, Maori economic development is forging ahead, with the active support of banks and investors. In the second of a two-part series, Kevin McQuillan examines NZ banks’ lending criteria.
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Accessing traditional land for development: How it’s done in New Zealand

10 Apr 2018 by 2 Comments
Accessing customary land for development in Papua New Guinea continues to be a challenge, while difficulties remain with securing finance against that land. Meanwhile, in New Zealand, Maori landowners are forging ahead with joint ventures, using leases as security and pooling financial resources. Kevin McQuillan investigates how it's done, in the first of a two-part series.
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Transparency Initiative report calls for improved systems in extractive sector in Papua New Guinea

4 Apr 2018 by Leave a Comment
The Extractive Industries Transparency Initiative Report for 2016 has found that improvements are being made to registry and payment systems, but more needs to be done. It notes that budgeting to government revenues remains difficult because of the industry’s volatility and the relatively small number of companies paying full tax.
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Moody’s puts a negative rating on Papua New Guinea’s sovereign debt

3 Apr 2018 by Leave a Comment
The ratings agency Moody’s has affirmed Papua New Guinea’s B2 rating, but downgraded it from ‘negative from stable’, citing higher government liquidity risks, increased gross borrowing requirements and limited funding sources. It points to a growing reliance on short-term debt.
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