• Economy

    OBG provides coverage of the major macro-economic trends within local economies, including GDP growth, government budgeting, public debt, balance of payments, monetary policy and long-term development strategies.
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Considering the slump in commodity prices, what are the challenges facing Papua New Guinea in the current global economic environment?

 

Culturally one of the world’s most diverse countries, Papua New Guinea is widely considered to be the last frontier for tourism and business opportunities. The island of New Guinea hosts 6-8% of the world’s species, one-sixth of known languages and rivals Borneo, the Amazon and the Congo in terms of biodiversity, according to the Worldwide...

 

A country of extraordinary diversity, spread across some of the world’s most spectacular, and often inhospitable, terrain, Papua New Guinea today is a country once again at a crossroads. A major economic boom has been rapidly followed by a major downturn, and as a result the government has come under some pressure. Meanwhile, this young...

 

What would you say is the importance of South-South cooperation for sustainable economic growth in the Pacific region?

 

What measures is the business community proposing in response to the persistence of low commodity prices on the international market?

 

A signatory to a large number of free trade agreements, PNG is in the process of negotiating accession to others. However, it is perhaps not as well integrated with other Asia-Pacific economies as it might have hoped, and its existing trade deals do not seem to be doing much to strengthen the economy. Furthermore, there is growing concern...

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