How to unleash the agriculture potential in Papua New Guinea’s Ramu and Markham valleys

Welcome,

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

Welcome,

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

Welcome,

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

Welcome,

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

Welcome,

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

Welcome,

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.

2020: the year in review for Papua New Guinea business

Welcome,

COVID-19, Porgera and politics may have monopolised the attention of the media, but 2020 brought many other challenges, unexpected changes and triumphs for business. Here’s how Business Advantage PNG reported on this extraordinary year.

Budget paper: Papua New Guinea’s revenue problem means it must raise more debt

Welcome,

The suspension of Parliament means that Papua New Guinea’s 2021 National Budget will be delayed until at least next month and possibly longer. Whenever it is finally delivered – and whoever delivers it – the recently released Budget Strategy Paper clearly outlines the challenges it must address.

How accurate are the Doing Business indicators? A case study of business environment reform in Pacific Island countries

Welcome,

The World Bank’s Doing Business indicators have become controversial. Paul Holden, Director of the Enterprise Research Institute, and Consultant for the Asian Development Bank Alma Pekmezovic analyse the accuracy of this tool in the Pacific Island nations.

The road ahead: Papua New Guinea’s GDP could rebound by 3.2 per cent next year says the World Bank

Welcome,

Two new World Bank reports outline the challenges facing Papua New Guinea in the wake of the COVID-19 economic shutdowns in the Asia-Pacific region.