Waiting times on foreign exchange orders have been falling substantially on central bank interventions and other factors, senior representatives of BSP Financial Group, Kina Bank and Westpac Papua New Guinea reveal to Business Advantage PNG.
Papua New Guinea banks report substantial fall in forex waiting times
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15 Aug 2024 by 2 Comments
Day 1 report from the 2024 Papua New Guinea Investment Conference
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13 Aug 2024 by Leave a Comment
Day 1 of the 2024 Business Advantage PNG Investment Conference featured top speakers from across the business sector, including Kumul Petroleum Holdings’ Wapu Sonk, Bank of Papua New Guinea Chairman David Toua and the IMF’s Sohrab Rafiq, who spoke of the positive impact of the central bank’s new approach to managing foreign exchange.
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
Treasurer reinstated and Bank of Papua New Guinea appoints new Financial Analysis and Supervision Unit (FASU) Director.
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 2 Comments
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.
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