Bank of Papua New Guinea revises down growth expectations

Welcome,

In his latest Monetary Policy Statement, the Governor of the Bank of Papua New Guinea, Loi Bakani, forecasts GDP will decline by four per cent in 2020 but rebound slightly next year. He also expressed concerns about changes to the Central Banking Act.

What the International Monetary Fund is doing in Papua New Guinea

Welcome,

With Papua New Guinea’s government debt set to rise to over 40 per cent of GDP due of the COVID-19 crisis, the International Monetary Fund’s PNG Mission Chief, Scott Roger, explains how the IMF is helping the country get back on a sustainable financial course.

Papua New Guinea heading for negative growth this year, says World Bank

Welcome,

Presenting the latest World Bank economic update for Papua New Guinea, PNG country economist Ilyas Sarsenov says its government has responded well to the challenges of COVID-19 but hard choices lie ahead.

Headed for recession: bank and rating agencies’ bleak forecast for Papua New Guinea in 2020

Welcome,

Economists are forecasting a recession in PNG in 2020 as the country struggles to deal with the global crisis caused by the outbreak of the COVID-19 virus. The ratings agency Standard & Poor’s has also downgraded the country’s debt.

Ratings agency reveals how Papua New Guinea will manage its debt

Welcome,

Papua New Guinea’s Government is set to rely heavily on concessional finance from multilateral institutions, according to ratings agency Moody’s. The agency is maintaining a B2 rating for PNG debt but has some surprising revelations about the country’s finances.

Blast from the past: Papua New Guinea’s economy in 2020

Welcome,

The year 2020 looks like being a watershed year for Papua New Guinea, with a number of transformative projects awaiting the green light and a new government seeking to implement an ambitious agenda.

Papua New Guinea heading into a forex squeeze – World Bank

Welcome,

A new World Bank report details a worsening of Papua New Guinea’s economic prospects and finances. It says that the country is ‘steadily’ losing foreign exchange.

Boardroom briefing: world’s longest commercial flight, commodity prices weak and how to get innovative ideas

Welcome,

Qantas has completed the world’s longest commercial flight, many commodity prices below cost of production, and how to foster innovation. Readings from around the world on business, leadership and management.

World Bank releases bullish assessment of Papua New Guinea economy

Welcome,

The Papua New Guinean economy is set to surge in 2019 and stabilize in subsequent years, according to a report by the World Bank. David James takes a closer look.

Economic update: slow but steady resurgence in the Papua New Guinea economy

Welcome,

Papua New Guinea is getting its house in order as it anticipates a period of stronger economic growth, driven in part by significant new investment in mineral production and infrastructure. In the first of a two-part series, Andrew Wilkins discusses its economy with business leaders and assesses where it is most likely to head.