New financial entrants ‘pose risk’: Bank of PNG
In a real sense, encouraging new entrants in the financial system can be considered a national risk management strategy, says Bank of PNG acting governor Elizabeth Genia. “In recent years, we have seen internationally
Solomon Islands’ new airport surcharge fee effective June 1st
Solomon Airlines has confirmed the introduction of new airport surcharge fee effective from 1 June 2023 to help cover rising international and domestic airport costs including increased landing and lighting fees at
Samoa’s Fagalii airport re-opens with extended runway
Samoa’s Fagalii airport has reopened with an extended runway, and the Minister of Works Transport and Infrastructure has given his assurance that it is safe. The Minister says the airport has passed all aviation
Economic, geopolitical risks present worldwide: BSP
The world is continuing to present economic and geopolitical risks that impact almost every country, a bank executive says. Bank South Pacific Financial Group Limited (BSP) Chief Executive Officer Mark Robinson said
Six Pacific countries at high risk of debt distress: World Bank
Six Pacific countries are at a high risk of debt distress in part due to government spending to respond to the COVID-19 crisis, the World Bank said in a report on Thursday. The report, titled Raising Pasifika, said
Pacific leaders’ role critical for a more resilient tourism sector
Pacific tourism leaders have a critical role to play for a more resilient future Pacific tourism sector. Tourism in the Pacific is about relationship building, economic development, growth, and connectivity. These
Refine gold here: PNG PM Marape
All gold produced in the country must be sold to the Bank of Papua New Guinea to be refined into bullion, says Prime Minister James Marape. The National reports that he made this comment during the launching of the PNG
Solomon Islands leads the Pacific on SOE profitability: ADB report
Solomon Islands’ robust legal framework for state-owned enterprises (SOEs) has contributed to the financial success of its largest SOEs and generated the highest portfolio returns among nine Pacific island countries,
Expert explains why Special Economic Zone in PNG fails
No one knew what Special Economic Zone (SEZ) were and accordingly, what must be done to enable them to succeed, writes the Post Courier. The Japanese Development Institute (JDI), a think tank with more than 40 years of
New forex strategy promises gradual return to a floating currency in PNG: IMF
An International Monetary Fund (IMF) team will be in Port Moresby over the next few months to help the PNG government develop a jointly-agreed comprehensive reform roadmap for the country’s foreign exchange (FX)
Papua LNG project: potential economic contribution, says ANZ
The ANZ bank says the proposed Papua New Guinea LNG project will deliver PGK18bn (US$5bn) in new spending (in constant prices or in real terms) during its construction phase. This is equivalent to 27.3% of PNG’s
