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Papua New Guinea’s chairmanship of APEC in 2018 comes at a time when the Pacific Island nation is still grappling with a foreign exchange shortage and high public debt, as well as persistent problems with law and order.
Papua New Guinea’s chairmanship of APEC in 2018 comes at a time when the nation is still grappling with a foreign exchange shortage and high public debt, as well as persistent problems with law and order. Despite these issues, C-suite executives appear optimistic for 2018, as shown by the more than 100 participants in Oxford Business Group’s second Business Barometer: PNG CEO Survey. The vast majority (77%) think that the APEC 2018 summit will have a positive or very positive effect on the economy.
With the Argentine peso in free fall, the beginning of May was a tumultuous time for the country. Even though the central bank continued to sell its reserves and raise interest rates, the depreciation of the currency appeared unstoppable.