While the new financial inclusion policy aims to expand access to and usage of financial services – Bank South Pacific (BSP) estimates some 98% of its over 1m accounts in Papua New Guinea are used for transaction purposes only – facilitating access to funding for small and medium-sized enterprises (SMEs) will be key to broadening economic...
In what ways will Papua New Guinea’s liquefied natural gas (LNG) project benefit the local economy, given the government’s debt arrangements?
Highly profitable by global standards, Papua New Guinea’s banking sector has traditionally focused on the government, larger firms and high-net-worth individuals. Despite significant challenges linked to poor infrastructure, inadequate credit information and a largely rural population, commercial lenders are developing innovative means of...
What will be the IPBC’s position within the restructuring of state-owned assets in Papua New Guinea through the Kumul corporatisations?
Although economic expansion slowed in 2013 as construction on ExxonMobil’s $19bn Papua New Guinea liquefied natural gas (LNG) project wound down – albeit from 9.1% in 2012 to a still healthy 5.2% in 2013, according to the Bank of PNG (BPNG) – the country stands on the cusp of rapid resource-led growth. Despite ranking as the world’s 115th-...
What were the factors behind Papua New Guinea’s better than expected economic performance in 2013?
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