Farms in Papua New Guinea are vulnerable to natural disasters and other risks, and this suggests the need to insure agriculture. Index-linked agricultural insurance is currently available in many developing countries, such as Thailand, Mexico and the Philippines, as well as in many advanced economies like Japan and the US. Some insurers...
To what extent have repetitive fires been affecting the growth of the insurance industry and how they should be contained?
What opportunities currently exist for expanding Papua New Guinea’s banking industry into other countries in the Asia-Pacific region?
Historically, Papua New Guinea’s banking sector has been one of the most profitable in the world in terms of return on equity and interest rate spreads. In 2015 the gap between borrowing and lending rates was reported at 8.3%, down slightly from 9% in 2014, but higher than in most of its neighbours – Indonesia was at 4.3%, Malaysia at 1.5%,...
The current economic slowdown highlights several opportunities to prioritise and improve processes and procedures within the PNG financial sector. We have access to the technology and tools that can increase efficiency in fundraising and in operating the financial sector. PNG as a country has never defaulted in its history, so it has a sound...
Papua New Guinea’s banking sector is adjusting to the slowing of economic growth and to the foreign exchange shortage that is affecting local businesses in the country. However, despite many challenges, the institutions remain well capitalised and highly profitable, and in some cases are maintaining positive profit growth. But more than just...
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