Economy

The country is facing a severe shortage of US dollars, and this has had a direct and significant impact on the economy. Importers are unable to get the funds they need, while insurance companies have faced a loss of reinsurance coverage due to the lack of dollars. Some critics assert that the currency problems are the direct result of a June...

Located on the Gulf of Huon, due north of Port Moresby, Morobe province is widely regarded as Papua New Guinea’s industrial heartland. The region is the gateway to the highlands and islands as well, providing the main transport link between the most populous provinces of the country. The Highlands Highway ends here, making the region’s capital...

A diverse population and rugged terrain present unique challenges to providing effective health services in Papua New Guinea, especially in rural areas. Growing at an estimated annual rate of 3.1%, PNG’s population is a youthful one, with 38% younger than 15 years and only 5% over 60. The fertility rate of 3.8 live births per woman contrasts...

In recent years, Papua New Guinea has sought to complete two key international transactions, and neither has gone as planned. The $300m facility from the World Bank’s International Finance Corporation (IFC) to provide dollar liquidity is still being discussed, while a $1bn-plus international bond has been at least twice delayed, in 2013 and...

The economy of Papua New Guinea is decelerating, with the GDP growth rate expected to fall by half in 2016 to 4.3% and by nearly half again to 2.4% in 2017. A combination of the end of the construction phase of the PNG Liquefied Natural Gas (LNG) project and an unexpected drop in energy prices has resulted in a significant decline in business...