Papua New Guinea introduces supplementary budget to address financial challenges

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With Papua New Guinea’s Mid-year Economic and Fiscal Outlook predicting government debt will rise to 55 per cent of GDP, its government has announced a supplementary budget to address numerous fiscal challenges. There are also moves for the central bank to print money to fund budget shortfalls.

No recession for Papua New Guinea post COVID-19, says Central Bank

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The Bank of Papua New Guinea in its latest Monetary Policy Statement is predicting that the Papua New Guinea economy will not go into recession this year and there will be a strong recovery next year. But it says that the COVID-19 pandemic has badly affected many of the key sectors in the economy.

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

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

LNG’s role in Papua New Guinea’s foreign exchange challenges

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The lack of foreign exchange is having a deep impact on Papua New Guinea’s financial system. A new World Bank report shows that mining is the biggest generator of foreign exchange in PNG, but what about LNG projects?