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Economy/Investment

US$200 million in finance for private sector climate change projects

10 Aug 2016 by 4 Comments
Climate change is the ‘single greatest threat to the livelihoods, security and wellbeing of the peoples of the Pacific’, according to the Pacific Islands Forum Secretariat (PIFS). But the region is showing leadership and there are opportunities for Papua New Guinea to gain access to climate finance.
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Papua New Guinea’s mid-year economic report paints gloomy picture, with some positives

2 Aug 2016 by Leave a Comment
The Papua New Guinea government has released its Mid-Year Economic and Fiscal Outlook Report. GDP growth is expected to be weak, tax revenue is lower than expected and public debt is rising above the legislated limit.
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A weaker kina may make sovereign bond raising less risky, says economist

27 Jul 2016 by 4 Comments
The Papua New Guinea authorities should allow the currency to fall to its market level to make foreign bond raisings less risky says economist Rohan Fox. He tells Business Advantage PNG that domestic banks are reaching the limits of their capacity to take on government debt, which is increasing the pressure to raise capital internationally.
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Survival of Papua New Guinea industry threatened unless greater protection, say business figures

13 Jul 2016 by Leave a Comment
There is a growing call for greater protection of Papua New Guinea industry to respond to allegedly unfair international competition. A number of manufacturers tell Business Advantage PNG that most countries have used protectionism to foster their domestic industries and it is time for PNG to do the same.
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Papua New Guinea government facing ‘difficult’ cash flow challenge says ADB

6 Jul 2016 by Leave a Comment
The Papua New Guinea government faces challenges in managing its cash flow, according to Yurendra Basnett, PNG Country Economist for the Asian Development Bank (ADB). The ADB’s Outlook 2016 paper on the Asian region says PNG’s debt servicing costs are likely to rise. ‘Cash-flow management is growing more difficult for the government as commercial banks reach their […]
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Higher government spending could reduce Papua New Guinea’s debt burden, says economist Satish Chand

27 Jun 2016 by Leave a Comment
Papua New Guinea's debt levels relative to the size of its economy could actually go down if the government increased spending, according to Satish Chand, Professor of Finance in the School of Business at the University of New South Wales. Mounting an argument that goes against conventional wisdom, he contends that as long as the government investment is well managed and receives a strong return, the long term benefits will outweigh the short term risks.
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Papua New Guinea’s 2015 agriculture exports less than half 2011 levels

22 Jun 2016 by 3 Comments
Papua New Guinea’s agriculture export income in 2015 was less than half 2011 levels, according to data from Bank Papua New Guinea’s latest Quarterly Economic Bulletin. Income from palm oil exports was at its lowest level since 2009, coffee sales were less than half the level of four years ago and income from rubber exports almost halved in a year.
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Warnings that proposed changes to Papua New Guinea’s Land Act could harm economy

15 Jun 2016 by 7 Comments
During May, forums were run in Port Moresby, Lae, Mt Hagen and Kokopo to solicit public responses to the Papua New Guinea government's new land bill. The intent of the new bill is to protect the rights of customary landowners, by extinguishing any State leases, mortgages or sub-leases held by non-citizens. But the consequences for PNG industry and the economy could be dire, some observers are saying.
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