Economy

One factor that is hindering labour productivity and long-term growth in Papua New Guinea is the poor state of public health – although the picture is slowly improving. Advancing the country’s primary health care system is a priority for both the social agenda and economic plans, with the target to achieve universal health care a key part of the Development Strategic Plan 2010...

Papua New Guinea issued its first sovereign dollar-denominated bond in September 2018, a major achievement for the island nation. Ongoing structural reform and market-focused policies played a key role in attracting foreign capital that year, and the $500m instrument has since led to a steady flow of dollars into the market. In addition to increasing foreign exchange reserves...

Efforts to improve the business environment and promote private investment in non-extractive sectors ramped up in 2018 with a new development plan and clearer fiscal priorities. Prior to the pickup in international commodity prices that year, a lengthy downturn in global demand, weak agriculture performance and production halts at key mines weighed heavily on revenue. In...