Pacific region vastly underserved by climate finance: Coral Pasisi
The Pacific region remains vastly underserved by access to climate finance, according to the Pacific Community’s (SPC) director of climate change and sustainability, Coral Pasisi. By her estimation, the region
BSP facing more system issues than expected
Bank South Pacific (BSP) has come out with an apology and explanation on the current technical difficulties experienced in Papua New Guinea since the implementation of the new Information Technology core banking system
Palau Finance Minister welcomes audit of stablecoin project
Palau’s Minister of Finance Kaleb Udui Jr said he welcomes the audit by the Public Auditor of Palau’s stablecoin project as requested by the Senate. “We have nothing to hide. We have been working with
FEMM endorsed re-designed Pacific Resilience Facility
The Pacific Islands Forum Leaders Meeting later this year in Rarotonga is expected to adopt and approve the redesigned Pacific Resilience Facility (PRF) after it was endorsed by the Forum Economic Ministers Meeting
‘Terrible’ rules starve climate-hit islands of finance, inquiry told
Development assistance rules are denying “vulnerable” small island developing states, or SIDS, of the help they need to combat the climate emergency and must be rewritten, a UK inquiry has been told. Multiple
Fiji government launches ‘Citizen’s budget’
Orgs call for action on price gouging Fiji’s Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, says the new budget has been meticulously constructed to lay the groundwork for long-term progress.
BSP cuts ties with PNG fuel supplier Puma
BSP Financial Group Limited (BSP) has cut ties with Puma Energy, according to Papua New Guinea Petroleum and Energy Minister Kerenga Kua. According to Minister Kua, the action by BSP is independent of the Government and
China-backed AIIB secures World Bank deal
The Asian Infrastructure Investment Bank, Beijing’s answer to the World Bank, has approved one of its highest-profile international partnerships, just weeks after it was accused of being infiltrated by China’s
Thriving stock exchange eyed in PNG
Companies are not currently obliged to list on the Papua New Guinea stock exchange (PNGX), but a thriving stock exchange in the country can act as a catalyst for broader economic growth, says chairman David Lawrence. On
Too little to avert crisis, Puma Energy received US$12.7 million of foreign exchange in PNG
Puma Energy received about US$12.7 million (about K45.8 million) of foreign exchange (FX) on Friday, but this is still not enough to buy fuel needed to address the looming shortage in Papua New Guinea, the company’s
Devaluation plan unfounded: Bank of PNG
The Bank of Papua New Guinea has poured cold water on speculation about a Kina devaluation, with acting governor Elizabeth Genia calling it unfounded. “There has been a lot of speculation recently on a devaluation of
