No recession for Papua New Guinea post COVID-19, says Central Bank

Welcome,

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.

War chest: oversubscribed COVID-19 bond will help Papua New Guinea fight virus

Welcome,

The government’s COVID-19 bond was oversubscribed after the first week, according to Treasurer Ian Ling-Stuckey. He said over K1 billion was raised and that the money will help protect Papua New Guineans from the worst effects of the coronavirus pandemic.

Exclusive: Central Bank Governor on forex, COVID-19 and the future of the kina

Welcome,

Central Bank Governor, Loi Bakani, says Papua New Guinea is facing economic and financial challenges due to the outbreak of COVID-19. He speaks exclusively to Business Advantage PNG about how the Bank of PNG is responding.

Forex squeeze: is Papua New Guinea’s stable kina a liability?

Welcome,

As a thinly traded currency, the kina has been protected from some of the volatility affecting world markets in the wake of COVID-19, but that presents its own set of problems.

Waiting for the party to begin: the future of Papua New Guinea’s National Development Bank

Welcome,

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.

LNG’s role in Papua New Guinea’s foreign exchange challenges

Welcome,

The lack of foreign exchange is having a deep impact on Papua New Guinea’s financial system. A new World Bank report shows that mining is the biggest generator of foreign exchange in PNG, but what about LNG projects?

Papua New Guinea heading into a forex squeeze – World Bank

Welcome,

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.

Five questions for YuTru’s Tony Willenberg

Welcome,

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.

In brief: Papua New Guinea’s Treasurer announces a deal to address forex issues and other business stories

Welcome,

Treasurer Ian Ling-Stuckey announces a deal with the Bank of Papua New Guinea to improve the availability of forex in the country, the Australian Government and the International Monetary Fund pledge to help PNG in its medium term revenue strategy, and Lihir Gold Mining Limited to pay K54 million directly to landowners. Your weekly digest of business news.

Financial services: a sector profile

Welcome,

A profile of the financial services sector in Papua New Guinea, including information on banks, finance companies, capital markets, superannuation and insurance.

To access this post, you must purchase Individual Subscription or Corporate Subscription.