Puma Energy head asks for help with foreign exchange to avoid fuel shortages, new World Bank report calls for reforms in PNG, Harbourside South development nears completion. Your business news in brief.
In brief: Outstanding foreign exchange orders almost K1.5 billion says Central Bank and other business stories
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19 Apr 2023 by Leave a Comment
Outstanding foreign exchange orders almost K1.5 billion according to Bank of PNG, Newmont makes offer for Newcrest Mining, and progress on Porgera gold mine. Your business news digest.
In brief: World Bank to fund new agriculture project in Papua New Guinea and other business stories
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4 Jul 2022 by 1 Comment
The World Bank announced new program and generous funding for Papua New Guinea agriculture sector, call centre launched for the 2022 elections and the Civil Aviation Development Investment Program eyes phase 2. The business news you need today.
In brief: World Bank report says GDP in Papua New Guinea is expected to grow and other business stories
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16 Mar 2022 by 1 Comment
The World Bank has released its economic update on Papua New Guinea, superannuation funds reject bank levy, and SNT Chair says Porgera will reopen next month. The business news you need today.
How to unleash the agriculture potential in Papua New Guinea’s Ramu and Markham valleys
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20 Oct 2021 by 3 Comments
Papua New Guinea’s fertile Markham and Ramu valleys have the potential to become a food basket for the Asia-Pacific region. An International Finance Corporation (IFC) study highlights how this could be achieved.
Papua New Guinea’s economy to return to pre-COVID levels in 2022 , says World Bank
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6 Oct 2021 by Leave a Comment
Papua New Guinea’s economic performance is projected to remain subdued for the rest of 2021 but rebound in 2022, according to the World Bank’s latest East Asia and Pacific Economic Update.
IFC looking at investment opportunities ‘even more actively’ in Papua New Guinea, says new country head
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3 Sep 2021 by 1 Comment
Markus Scheuermaier is the International Finance Corporation’s (IFC) new Resident Representative in Papua New Guinea. He shares his thoughts on how the IFC can make the most difference in PNG with Business Advantage PNG.
World Bank increases support for Papua New Guinea
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30 Jun 2021 by 3 Comments
The World Bank has approved US$100 million (K352 million) in concessional funding to support Papua New Guinea in its response to COVID-19, and ‘lay important foundations for a sustainable recovery’. The funding will not be without risk, however.
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.
COVID-19 hit to Papua New Guinea’s economy is giving rise to ‘new poor’, says World Bank
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20 Jan 2021 by 2 Comments
A new World Bank report on the economic and employment impact of COVID-19 on Pacific Island Countries has shown that the harm to Papua New Guinea’s economy, labour market and education has been extensive.
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