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.
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Papua New Guinea heading for negative growth this year, says World Bank
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13 Jul 2020 by 3 Comments
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.
Ripple effects: how the global pandemic is affecting oil and gas in Papua New Guinea
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6 Jul 2020 by Leave a Comment
The COVID-19 crisis has profoundly shaken the global oil and gas industry. With the medium term picture for LNG prices likely to heavily impact PNG’s economy and government finances, Business Advantage PNG looks at the sector’s prospects.
Fair split: finding an oil and gas model that works in Papua New Guinea
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1 Jul 2020 by Leave a Comment
Papua New Guinea is making changes to its approach to oil and gas projects, suggesting the country gets a worse share of revenues than other comparable nations. John Chambers, General Manager of Santos, considers some of the options used internationally.
Oil and gas prices recover: our monthly review of Papua New Guinea’s commodities and financial markets
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29 Jun 2020 by Leave a Comment
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.
Ready, set, sago: project suggests the key to a successful agribusiness in Papua New Guinea
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25 Jun 2020 by 2 Comments
The Sago Project in Gulf Province seeks to improve revenues from a crop already well known to smallholders. Sago Project co-founder Peter Uechtritz reveals to Business Advantage PNG the key ingredients for a successful agribusiness project in Papua New Guinea.
Papua New Guinea’s economy: an overview
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22 Jun 2020 by Leave a Comment
An overview of Papua New Guinea’s economy, including key industry sectors and GDP growth figures.
Oil change: Marape to alter Papua New Guinea’s oil and gas legislation
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15 Jun 2020 by 9 Comments
Prime Minister James Marape has introduced changes to Papua New Guinea’s oil and gas law, claiming it will benefit the country’s ‘national interest’. The changes may well represent a major shift in the way projects are developed in the future.
In brief: Papua New Guinea ‘will shortly be sending Exxon’ its final position for P’nyang and other business stories
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1 Jun 2020 by 1 Comment
Papua New Guinea’s Prime Minister, James Marape, talks about the delays in resources projects, Air Niugini through its subsidiary Link PNG could purchase up to 60 per cent of shares in PNG Air and K113,000,000 from the COVID-19 stimulus package will be used to improve food security and strengthen agriculture production.
No recession for Papua New Guinea post COVID-19, says Central Bank
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18 May 2020 by Leave a Comment
The Bank of Papua New Guinea in its latest Monetary Policy Statement is predicting that the Papua New Guinea economy will not go into recession this year and there will be a strong recovery next year. But it says that the COVID-19 pandemic has badly affected many of the key sectors in the economy.
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