Treasurer reinstated and Bank of Papua New Guinea appoints new Financial Analysis and Supervision Unit (FASU) Director.
People moves: Treasury, Bank of Papua New Guinea, World Bank, Datec PNG, IFC and Port Moresby Nature Park
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2 Jul 2024 by Leave a Comment
Papua New Guinea businesses still face serious forex delays, despite interventions
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23 May 2024 by 1 Comment
PNG banks and businesses tell Business Advantage PNG of considerable variation in wait times for foreign exchange, as the country’s central bank acknowledges the economic damage caused. We look at the prospects for improvement.
Economic update: Papua New Guinea’s decade of growth begins
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9 Apr 2024 by 1 Comment
As part of extensive in-country research for the newly-released 2024 edition of the Business Advantage PNG annual magazine, our editorial team spoke exclusively to dozens of Papua New Guinea business leaders to understand how they are preparing for imminent growth – and what challenges they face. Here’s what they told us.
Forex, debt and governance: the IMF assesses Papua New Guinea’s progress
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13 Mar 2024 by Leave a Comment
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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9 Feb 2024 by Leave a Comment
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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31 Jan 2024 by Leave a Comment
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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31 Jan 2024 by 3 Comments
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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11 Oct 2023 by 2 Comments
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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26 Sep 2023 by Leave a Comment
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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21 Aug 2023 by Leave a Comment
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.
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