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.

Foreign exchange shortages still biting business in Papua New Guinea

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The Bank of Papua New Guinea expects a ‘windfall’ from higher international commodity prices to alleviate some of the country’s foreign exchange shortages. However, anecdotal evidence suggests the forex situation is actually getting worse.

Latest Central Bank figures indicate Papua New Guinea’s economy is rebounding

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Recently released data from Papua New Guinea’s central bank indicates the country’s economy bounced back significantly in the September 2021 quarter on the back of a massive increase in export receipts due to higher commodity prices. While private sector employment and sales also rose, the bank warns inflation is also on the march.

Election time: Papua New Guinea in 2022 [opinion]

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What can we expect from Papua New Guinea’s 2022 National Elections? And what are the major challenges facing the winner?  Stephen Howes considers.

In brief: new resources projects moving forward Prime Minister Marape tells resources industry and other business stories

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New resources projects moving forward, Prime Minister Marape tells resources industry, Fortescue’s CEO visits the Purari hydropower project and the ADB welcomes changes to Kumul Consolidated Holdings legislation. The business news you need today.