Recent developments in the Papua New Guinea’s resources sector should boost confidence, according to international ratings agency Fitch Solutions. Its latest outlook on the country, however, warns of ‘policy uncertainty and ongoing risks to social stability’.
Fitch Solutions downgrades growth projections for Papua New Guinea, St Barbara Ltd unveils promising feasibility study for its Simberi gold mine, and Kina Bank introduces fee-free account. The news in brief.
Two new reports have outlined the revenue challenges being faced by Papua New Guinea’s government in the face of the COVID-19 pandemic.
Papua New Guinea’s trade is likely to be sharply affected by the COVID-19 crisis and the closure of international borders, according to a report by the National Research Institute. It makes suggestions about how PNG’s traded sector can be supported.
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.
The economic fallout from the coronavirus (COVID-19) is creating havoc across world markets and economies. According to the ratings agency Fitch, Papua New Guinea’s formal economy will be affected, but the story could be different for its informal and local economy.
With experts forecasting slow economic growth in 2020, Papua New Guinea’s economy may be facing a temporary loss of momentum. David James examines two new economic reports and what they may mean for business.
Economists have cut forecasts for Papua New Guinea’s 2020 GDP growth but there is a consensus that the slowing will only prove to be temporary. David James explores three new views of PNG’s economy in 2020 and beyond.
Papua New Guinea’s Prime Minister has announced a US$13 million airport in Mendi and Moody’s has changed the country’s issuer ratings from negative to stable. Your weekly digest of the latest business news.
Financial analysts Fitch Solutions is forecasting higher economic growth for Papua New Guinea next year. But it says the kina is overvalued, which may pose problems in the future if the the Government’s proposed sovereign bond issue is successful.
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