Lower demand sees Papua New Guinea’s agricultural exports fall

Welcome,

The latest figures from the Bank of Papua New Guinea reveal the negative impact of the global pandemic on PNG’s agricultural sector. Exports of all the country’s major agricultural commodities fell in the 12 months to September 2020, although the falls were partly offset by improved prices in some cases.

Diversify and conquer: what the future holds for Credit Corp in Papua New Guinea

Welcome,

Peter Aitsi, Group Chief Executive Officer of Credit Corporation PNG, says the COVID-19 pandemic has had a significant impact on operations. He tells Business Advantage PNG that the company is moving to a more agile digital platform and diversifying its product range.

What’s on the agenda for Papua New Guinea business in 2021?

Welcome,

With the Marape government surviving a challenge late last year and vaccines for the COVID-19 virus starting to emerge, Business Advantage PNG considers what business in Papua New Guinea can expect from the year ahead.

Commodities update: palm oil reverses trend, LNG soars but oil continues to weaken

Welcome,

LNG prices continue to surge and are now up by over a third this year. But oil prices eased and cocoa prices also fell slightly. Business Advantage PNG’s monthly review of commodity and financial markets.

It’s time to devalue the kina, says Business Council

Welcome,

The Business Council of Papua New Guinea has present its latest macroeconomic outlook, which outlines the risks faced by PNG’s economy and what business needs to recover from the COVID-19 downturn.

In brief: Barrick removes Porgera mine’s production from guidance and other business stories

Welcome,

Porgera mine output is removed from Barrick’s full year guidance, Westpac announces new division for Westpac Pacific and Australia and New Zealand agree on a ‘trans-Tasman COVID-safe’ travel zone. The business news you need to kick-start your week.

Thinking about PNG’s COVID-19 economic response [opinion]

Welcome,

Three academics, Dek Joe Sum, Maholopa Laveil and Stephen Howes, analyse Papua New Guinea’s monetary easing measures in response to COVID-19.

How Papua New Guinea’s central bank plans to sell government debt

Welcome,

The Bank of Papua New Guinea is looking to sell government debt to international and local investors. Its Governor, Loi Bakani, outlines the challenges to Business Advantage PNG and their connection to PNG’s ongoing foreign exchange shortages.

Less than 5 per cent of Papua New Guinea businesses getting foreign exchange when they need it: poll

Welcome,

As far as business is concerned, Papua New Guinea’s foreign exchange challenges are far from over. That’s according to an exclusive Business Advantage PNG poll, which indicates the majority of businesses are still experiencing significant delays in meeting their foreign currency needs.

Digital ID, digital money: how the mobile phone can reach the unbanked in Papua New Guinea

Welcome,

Three quarters of Papua New Guinea’s population is excluded from the financial sector, but there are differing thoughts about how to include them. David James looks at some of the options being proposed for PNG and notes the mobile phone is the key to all of them.