PNG edges closer to sovereign wealth fund

By Kevin McQuillan

The PNG Parliament approved establishing a Sovereign Wealth Fund (SWF) more than a decade ago but it’s only this month that Prime Minister Marape indicated moves towards its establishment.

In August, James Marape said his government intends to start this facility, with the aim of instilling a savings culture.

"Already in as far as our country is concern, laws has created that facility but no government in the past have thought of it seriously in putting money into Sovereign Fund."We now intend to utilise this facility as early . . .

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