Term deposits include investments offered by the commercial banks and financial institutions of Papua New Guinea. The terms range from 30-day deposits to 364-day deposits. According to the Bank of PNG (BPNG), the country has four commercial banks and 11 authorised deposit-receiving financial institutions.
How can small and medium-sized enterprises (SMEs) play a greater role in developing key sectors within the wider PNG economy?
While Papua New Guinea has a free and open economy, it is also a place where it can be exceedingly challenging to do business. General conditions are difficult, and some areas of administration and law can cause things to progress at a slow pace. The US State Department’s 2016 Investment Climate statement noted that the country “appears to...
The international position of Papua New Guinea has improved in recent years as the country continues to benefit from a number of positive trends. A stabilisation in commodity prices, strong output from the country’s major projects and an end to the El Niño drought have brought major trade indicators back into line. The lack of dollars and the...
What infrastructure initiatives are required in Papua New Guinea to foster economic development and enhance trade with Australia?
Papua New Guinea was well prepared for the 2008 financial crisis, as it had reduced its debt and had some room to manoeuvre. The country’s obligations dropped from around 70% of GDP in the early 2000s to about 20% a decade later. This, in part, explains why the crisis was so short lived, according to the Asian Development Bank (ADB). However,...
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