Take our poll on foreign exchange shortages in Papua New Guinea

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Are Papua New Guinea’s foreign exchange shortages in the past? Take our poll to find out.

World Bank releases bullish assessment of Papua New Guinea economy

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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.

Opinion: What businesses must watch out for when dealing with foreign exchange

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There are many pitfalls for the unwary when dealing with other countries’ money says Stephen Massa, Head of the PNG Office for law firm Dentons.

In brief: Construction phase of Panguna mine to cost US$4-6 billion, and other business stories

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Bougainville Copper Ltd says Panguna mine could be operational by 2025-26, Foreign exchange injection this week, and Tolukuma gold mine may restart by year’s end. Your weekly digest of the latest business news. 

Opinion: complying with Papua New Guinea’s foreign exchange controls

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Businesses in Papua New Guinea must have strategies to manage the shortage of foreign currency, says Stephen Massa, Port Moresby Managing Partner of the law firm Dentons. He looks at some approaches but warns that businesses must pay attention to their legal obligations.

Copper down but palm oil up: a monthly review of commodities and financial markets

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Copper and cocoa prices have eased sharply over the last month, while palm oil prices have surged. Gas and oil prices are largely unchanged and precious metals prices have eased. Business Advantage PNG’s monthly overview of commodity and financial markets.

Why modernising Papua New Guinea’s bond markets may help solve the foreign exchange shortage

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The governor of the Bank of Papua New Guinea, Loi Bakani, says that the shortage of foreign exchange is ‘an issue based on supply and demand of foreign currency for kina.’ One way to increase demand for a nation’s currency is to modernise the bond markets. A World Bank report has looked at some options.

Top bankers set the record straight on Papua New Guinea’s foreign exchange shortage

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Papua New Guinea’s top two bankers, Loi Bakani, Governor of the Bank of Papua New Guinea and Robin Fleming, Chief Executive of Bank South Pacific, have asserted that the kina is not ‘controlled’. The shortage of foreign exchange is rather due to supply demand imbalances—but there is light at the end of the tunnel.

A weaker kina may make sovereign bond raising less risky, says economist

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The Papua New Guinea authorities should allow the currency to fall to its market level to make foreign bond raisings less risky says economist Rohan Fox. He tells Business Advantage PNG that domestic banks are reaching the limits of their capacity to take on government debt, which is increasing the pressure to raise capital internationally.

Moody’s bullish on longer term future of Papua New Guinea economy

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Moody’s recently downgraded its sovereign rating on Papua New Guinea to B2 from B1. But Christian de Guzman, a Senior Analyst in the Sovereign Risk Group for Moody’s Singapore tells Business Advantage PNG that the agency is ‘quite confident’ about the overall economy’s prospects over the medium-term.