Papua New Guinea’s government has announced its Budget deficit will balloon to more than K6 billion, the biggest in the nation’s history. Treasurer Ian Ling-Stuckey has announced a well-targeted stimulus, but the International Monetary Fund needs to come to the party.
In an emergency session of parliament last week, Prime Minister James Marape extended Papua New Guinea’s state of emergency, and the ramifications will be significant.
In a wide-ranging chat with Business Advantage PNG, the Managing Director of Papua New Guinea’s state-owned National Development Bank, Moses Liu, talks about becoming an emerging force in Papua New Guinea’s banking sector.
Commercial banks call for collaboration, communication and an awareness of risk if they are help finance what could be an infrastructure boom in Papua New Guinea.
YuTru, Papua New Guinea’s first digital identification or ‘trust framework’, will enable more people to access and participate in the online economy. In this exclusive interview with Business Advantage PNG, Tony Willenberg, consultant to the project, tells us how YuTru is progressing.
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.
In this exclusive interview, Bank South Pacific’s Chief Executive Officer, Robin Fleming, speaks with Business Advantage PNG about the real impact of Papua LNG and P’nyang, how power cuts are affecting mobile banking and the prospects for business in 2020.
Oil and gas have performed strongly, and there is also an upward trend in metals prices. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
Economists have cut forecasts for Papua New Guinea’s 2020 GDP growth but there is a consensus that the slowing will only prove to be temporary. David James explores three new views of PNG’s economy in 2020 and beyond.
What is the future of Papua New Guinea’s stock market? PNGX Chairman David Lawrence believes there is an opportunity to expand the country’s capital markets, while changes to the regulator are also expected. David James explores.