Papua New Guinea’s growth depends on Papua LNG going ahead, says S&P

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In an exclusive interview with Business Advantage PNG, ratings analyst Rebecca Hrvatin, says PNG’s fiscal imbalances will improve—provided the Papua LNG project continues as planned.

Sovereign bond issue will ‘test’ Papua New Guinea’s market access, says Standard & Poor’s

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The Papua New Guinea government has begun spruiking its sovereign bond issue with a series of meetings with investors in Singapore, Hong Kong, London and the US, led by Treasurer Charles Abel. However, while Standard and Poor’s has given the issue a ‘B’ stable rating, others say the government may have to offer a premium to attract investors.

PM insists Papua New Guinea economy strong despite critics

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The Prime Minister Peter O’Neill has criticised external commentators for ‘bias’ when assessing the PNG economy. Speaking at the 34th Australia Papua New Guinea Business Forum in Brisbane, he expressed optimism about the proposed Papua LNG project but said the economy has to be diversified to avoid boom and bust cycles.

Standard & Poor’s lowers Papua New Guinea’s rating

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S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to ‘B’ from ‘B+’, but it believes the outlook is ‘stable’. The agency points to bigger than expected fiscal deficits because of ‘a loss of revenue and reconstruction costs after a recent earthqu

Excess kina liquidity may open up opportunities for local companies in Papua New Guinea

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The lack of availability of foreign exchange is creating imbalances within the Papua New Guinea financial system, according to a report by Kina Securities. It says there is a build up of liquidity in kina, which may have implications for the financial strategies of domestic companies.

Papua New Guinea’s banks face high economic risks, reflecting debt and resource reliance, says ratings agency, S&P Global

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The economic risks faced by the three main commercial banks in Papua New Guinea are very high, says ratings agency S&P Global Ratings. But Associate Director Andrew Mayes tells Business Advantage PNG, credit risk is ‘well-managed’.

Papua New Guinea interest rates likely to remain stable and inflation to fall, say research groups

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Interest rates are likely to remain at 6.26 per cent for the rest of 2017, and inflationary pressures are expected to moderate, according to the latest economic analysis by Singapore-based BMI Research, a unit of Fitch Group.

Releasing more land key to increasing Papua New Guinea home ownership

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Demand for housing in Papua New Guinea is strong but there is a shortage of supply, according to the latest survey by Hausples, a Port Moresby-based real estate technology company.

Higher commodity prices the key to improving Papua New Guinea credit ratings, says Standard & Poor’s Global Ratings

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High debt and deficit levels are why the ratings agency S&P has kept its Papua New Guinea country rating at B+/B, with a negative outlook. S&P Director, Craig Michaels, tells Business Advantage PNG higher commodity prices are the key to lifting the rating.

Cocoa surges but oil and gas prices remain weak: a monthly review of Papua New Guinea commodity and financial markets

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The big mover this month was the cocoa price which was up 6.6 per cent for the month according to Kina Securities. Otherwise commodity prices moved sideways or weakened. Business Advantage PNG’s monthly overview of commodity and financial markets.