Exclusive: Central Bank Governor on forex, COVID-19 and the future of the kina

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Central Bank Governor, Loi Bakani, says Papua New Guinea is facing economic and financial challenges due to the outbreak of COVID-19. He speaks exclusively to Business Advantage PNG about how the Bank of PNG is responding.

The PNG 100 CEO Survey: Papua New Guinea’s chief executives ‘remain optimistic’

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Westpac Bank’s Senior Economist Justin Smirk identifies five key highlights from Business Advantage’s PNG 100 CEO Survey of chief executives in the country’s biggest companies. 

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?

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

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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.

What Papua New Guinea’s central bank is saying about the economy

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Ahead of this week’s expected Supplementary Budget, the Bank of Papua New Guinea’s September Monetary Policy Statement points to continued financial pressures, despite a strong trade performance. David James considers what it means for foreign exchange and domestic demand.

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.