Forex, debt and governance: the IMF assesses Papua New Guinea’s progress

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A year ago, the International Monetary Fund commenced a program in Papua New Guinea, focused on improving government debt, foreign exchange shortages and governance. Business Advantage PNG sits down with the IMF’s Resident Representative in PNG, Sohrab Rafiq, to discuss progress on these three critical issues.

Opinion: Is Papua New Guinea’s kina really depreciating?

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Amid fears of further declines in the value of Papua New Guinea’s currency, the kina, economists Bobby Kunda and Stephen Howes analyse how the kina has been performing against all its key trading currencies – and come to some surprising conclusions.

Economic growth is key to easing foreign exchange crunch, says Bank of Papua New Guinea Chairman

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Chairman of the Bank of PNG, David Toua, talks exclusively about reforms to the central bank, the foreign exchange situation, interest rates and the phasing out of bank cheques.

Take it to the bank: new Digizen ID card to drive financial inclusion in Papua New Guinea

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Digizen ID, a new digital identification card developed specifically for PNG, could be a “game changer” for the vast majority of citizens who are locked out of financial services due to a lack of formal identification.

Better times ahead on foreign exchange, says Bank of Papua New Guinea Acting Governor

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September was another tough month for availability of foreign exchange in Papua New Guinea, but central bank Acting Governor Elizabeth Genia has moved to reassure business that the bank is committed to supporting the kina as it adjusts to a lower level against the US dollar. She’s also flagging better times ahead on forex.

Bank of PNG changes tack on foreign exchange, but will it follow through? [opinion]

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Three welcome recent speeches from representatives of Papua New Guinea’s central bank suggest that it is starting to set out its plans for reform of the country’s troubled foreign exchange system, observes Stephen Howes. He suggests what should happen next.

No hard devaluation of the kina, says Bank of Papua New Guinea Governor

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With a new strategy to manage Papua New Guinea’s foreign exchange shortages expected soon, the Bank of Papua New Guinea’s Acting Governor, Elizabeth Genia, has moved to reassure business leaders that a devaluation of the country’s currency is not on the cards.

State of Emergency declared to ‘maintain and stabilise’ Papua New Guinea’s fuel supply

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In direct response to the ongoing disruption of fuel supplies in Papua New Guinea, Petroleum Minister Kerenga Kua has declared an extraordinary 30-day State of Emergency.

Papua New Guinea’s currency flagged to continue ‘gentle’ fall

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The Papua New Guinea kina is starting to experience a very gradual erosion against its key trading currency, the US dollar.

Credit Corp PNG CEO explains why the company is on the cusp of a major transformation

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CEO Danny Robinson walks Business Advantage PNG through plans to become a niche commercial bank after the [bank] regulator recently fast-tracked the finance company’s application for a full banking licence in Papua New Guinea.