The sharp fall of Papua New Guinea’s currency, the kina, over the past few months is a cause for concern, with Manufacturers Council of PNG CEO Chey Scovell describing it as a ‘real kick in the guts’ for local manufacturers.
Papua New Guinea Sovereign Wealth Fund coming in a nick of time
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25 Sep 2013 by
With Papua New Guinea’s Sovereign Wealth Fund (SWF) due to receive its first revenues next year, the Governor of the country’s central bank has given his approval. Meanwhile, the International Monetary Fund has sounded a note of caution.
People moves: new Treasurer, new director to PNGSDP and Bank of PNG board
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2 Apr 2014 by
O’Neill appoints Pruaitch as Treasurer, Somare appointed to PNGSDP and three new directors of Bank of PNG.
Five things we learned from Papua New Guinea Advantage 2013
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12 Sep 2013 by
The annual Papua New Guinea Advantage investment summit was held this week in Port Moresby. After two days of discussions, presentations, speeches, dinners and question-and-answer sessions, here are five observations.
In brief: Loan for Oil Search shares already signed and other stories
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26 Mar 2014 by Leave a Comment
Officials reveal loan share deal signed two weeks ago, Abbott/O’Neill sign a new trade treaty and Bank PNG board happy with economy. Your weekly digest of the latest business and economic news.
Papua New Guinea currency may fall another 10 per cent: ANZ
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28 Jan 2014 by Leave a Comment
The value of the Papua New Guinea’s currency, the kina, is expected to fall as much as ten per cent over the coming year, after stabilising for the last two months, according to Lead Pacific Economist at ANZ Bank, Daniel Wilson.
Papua New Guinea Government unfazed by foreign borrowing despite central bank concerns
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24 Jul 2013 by Leave a Comment
The Bank of Papua New Guinea argues that the government should fund its spending plans from the domestic banking system. Meanwhile, the government is ramping up its borrowing from foreign sources. Who is right?
New prudential rules for the finance industry – opportunity or expensive overhead?
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1 May 2013 by 2 Comments
Commercial lawyer Steven Kami says PNG’s superannuation and life insurance sectors are worried about the effect of the new prudential standards on corporate governance, and in particular the effect on eligible directors.
Fund Papua New Guinea budget deficit locally, urges Bakani
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9 Apr 2013 by
The Governor of the Bank of Papua New Guinea, Loi M Bakani, has urged the Papua New Guinea Government to fund its projected large deficits over the next few years from the high levels of liquidity in the domestic banking system.
Managing the boom
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3 Jun 2012 by Leave a Comment
Halfway through the building of its major liquefied natural gas project, Papua New Guinea finds itself in a strong fiscal position, but with some key challenges. After ten straight years of economic growth, culminating in an impressive 8.9% increase in GDP in 2011 (compared to a world average of 4%), Papua New Guinea’s economy is […]
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