Papua New Guinea Treasurer details K600 million stimulus package

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Papua New Guinea’s National Executive Council has announced that K600 million will start to flow to the health, security, agriculture, business and household sectors as a first step in the government’s K5.7 billion coronavirus Economic Stimulus Package. Treasurer Ian Ling-Stuckey said this is K100 million more than was initially planned.

War chest: oversubscribed COVID-19 bond will help Papua New Guinea fight virus

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The government’s COVID-19 bond was oversubscribed after the first week, according to Treasurer Ian Ling-Stuckey. He said over K1 billion was raised and that the money will help protect Papua New Guineans from the worst effects of the coronavirus pandemic.

Thinking about PNG’s COVID-19 economic response [opinion]

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Three academics, Dek Joe Sum, Maholopa Laveil and Stephen Howes, analyse Papua New Guinea’s monetary easing measures in response to COVID-19.

In brief: lease extension for Papua New Guinea’s Porgera mine refused and other business stories

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Papua New Guinea to take over Porgera Mine, Mining Minister is looking to restart Wafi-Golpu discussions and Shadow Treasurer urges the introduction of a supplementary budget. The business news you need to kickstart you week.

Opinion: Papua New Guinea’s confusing budget debate

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Amid claim and counter-claim, the true state of the Papua New Guinean economy is lost amid personality politics, argues Divine Word University’s Bernard Yegiora.

Supplementary budget imposes greater austerity on Papua New Guinea’s economy

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The Papua New Guinea government has brought down a supplementary Budget to address what it described as a ‘record budget deficit.’ The Minister for Treasury, Ian Ling-Stuckey, claimed it is necessary to get the Budget within sound fiscal limits.

In Brief: Papua New Guinea’s Treasurer warns of ‘big and painful’ cuts in Tuesday’s Supplementary Budget and other business stories

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Treasurer says Papua New Guinea’s Budget deficit far worse than expected, Phillipines to export 5,000 mt of high quality rice to PNG, and Paradise Foods sells its spice business. Your weekly digest of business news.

In Brief: US$13 million airport project announced in Mendi and other business stories

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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.

In brief: Details of US$500m Credit Suisse loan to Papua New Guinea revealed, and other business stories

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Treasury Minister outlines details of US$500 million loan deal, World Bank commends 2018 Budget, crucial meeting over the future of BCL’s exploration licence. Your weekly digest of the latest business news.