Papua New Guinea’s currency, the kina, has been steady this year after weakening against a number of major currencies in late 2020. Should it be devalued further? We asked Jonathan Prince, Treasurer at Westpac PNG, to consider the consequences.
Gradual devaluation of Papua New Guinea’s currency would be ‘helpful’, says banker
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9 Jun 2021 by 7 Comments
Foreign exchange rationing in Papua New Guinea: six years on
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21 Apr 2021 by Leave a Comment
Rohan Fox, Research Officer at the Development Policy Centre and former Lecturer at the University of Papua New Guinea, analyses PNG’s foreign exchange shortages and rationing, and explains why the problem doesn’t seem to be getting better.
We need more competition, says Bank South Pacific CEO
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11 Mar 2021 by Leave a Comment
Bank South Pacific has just announced its 2020 financial results amid tough trading conditions. CEO Robin Fleming talks to us about the bank’s plans for 2021, foreign exchange shortages, and the need for greater competition.
Papua New Guinea facing a ’triple crisis’, says World Bank economist
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3 Mar 2021 by Leave a Comment
Papua New Guinea has been dealing with a ’triple crisis’, according to Ilyas Sarsenov, Country Economist for the World Bank in PNG. Speaking at a Business Advantage PNG online briefing, he said that the economy has fallen well below previous growth forecasts.
Exclusive: Central Bank Governor on forex, COVID-19 and the future of the kina
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21 Apr 2020 by 6 Comments
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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24 Feb 2020 by Leave a Comment
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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17 Feb 2020 by Leave a Comment
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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13 Jan 2020 by Leave a Comment
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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4 Oct 2019 by Leave a Comment
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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20 May 2019 by Leave a Comment
Are Papua New Guinea’s foreign exchange shortages in the past? Take our poll to find out.
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