Papua New Guinea heading into a forex squeeze – World Bank

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A new World Bank report details a worsening of Papua New Guinea’s economic prospects and finances. It says that the country is ‘steadily’ losing foreign exchange.

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In brief: World Bank releases new economic outlook for Papua New Guinea and other business stories

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The World Bank predicts slower GDP growth for Papua New Guinea, P’nyang could still be on the table and fibre optic cable landing to start in Vanimo. The business news you need to kick-start your week. Resources Patrick Pouyanne, CEO of the French oil and gas company Total, has said that ExxonMobil and PNG need […]

Papua New Guinea loses 12 places in World Bank’s doing business 2020 rankings

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Papua New Guinea slipped 12 places in the World Bank’s ranking of ease of doing business, but are there any positive signs? David James analyses the report.

Papua New Guinea’s economy remains broadly positive despite slow economic growth forecast for 2020

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Economists have cut forecasts for Papua New Guinea’s 2020 GDP growth but there is a consensus that the slowing will only prove to be temporary. David James explores three new views of PNG’s economy in 2020 and beyond.

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: new guidelines for Kumul Petroleum Holdings and other business news

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Kumul Petroleum Holding Limited has been asked to cease exploration, drilling and greenfield investments, the World Bank has released an economic update signalling economic slowdown in Asian and Pacific economies, and K92 Mining has released its Q3 results above budget. Your weekly digest of business news.

In Brief: Government to review resource laws next year, and other business stories

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Review of Mining Act next year, acting Tax Commissioner warns of criminal action against companies not forwarding taxes to government and wholesale internet prices may drop by two-thirds. Your weekly digest of business news.

World Bank offers cautious appraisal of Papua New Guinea’s economy

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The World Bank has released its latest half-yearly appraisal of Papua New Guinea’s economy. It confirms PNG’s economy contracted last year but predicts it will bounce back over the next three years, subject to some ‘rising uncertainties’.

How to deal with resource sector volatility in Papua New Guinea

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The World Bank has released a new report, which provides a bullish assessment on economic growth in Papua New Guinea. But it says the country’s dependence on natural resources is not generating sufficient jobs to absorb its growing population.

In Brief: Bougainville referendum postponed until October and other business stories

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Bougainville’s independence referendum deferral, Papua New Guinea ranked 109 out of 190 in the World Bank’s 2019 Ease of Doing Business Report and possible changes to the Foreign Investment Regulatory Bill. Your weekly digest of the latest business news.