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Economic News

Who are the biggest winners in the G20’s debt-relief programme?
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– DSSI, Common Framework and SDRs were designed to ease debt and financing concerns – $5.7bn in debt payments deferred under the DSSI last year – Critics say relief measures do not go far enough and have recommended debt cancellation – Calls for developed countries to pass on their SDR allocations to emerging markets The economic fallout of the Covid-19 pandemic has led to the establishment…

Analysis

Will Covid-19 make a lasting change to essential global supply chains?
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As globalisation has increased, the world’s supply chains have become substantially more interconnected, and goods often have more stages to pass through before reaching the end consumer. From national lockdowns to closed airspace and land borders, Covid-19 resulted in unprecedented disruption to the mechanics of most economies, regardless of their size or stage of development. In particular,…
Overview

Useful information for travellers in Papua New Guinea
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Etiquette “For every village a different culture” is the expression that best describes the social norms, cultures and languages of Papua New Guinea’s population. Most locals will greet you with a warm smile. The salutation monin tru (a very good morning) is considered the polite early-day greeting. Western etiquette is generally observed in urban centres, while reciprocity and hospitality…

Overview

Materua Tamarua, CEO, Australia Papua New Guinea Business Council: Interview
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Interview:Materua Tamarua How would you describe the lifestyle in PNG for corporate travellers or new residents who have relocated for business purposes? MATERUA TAMARUA: PNG is a fascinating country for visitors. Between mid-2019 and mid-2020 business travellers constituted nearly 55% of the total number of tourists. Most arrivals come from Australia, while Asia and Europe make up 30% of…

Overview

Comfortable hotels in Papua New Guinea
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AIRWAYS HOTEL Jacksons Parade, Jacksons International Airport PO Box 1942, Boroko, NCD T: +675 324 5200 / 7373 2600 reservations@airways.com.pg www.airways.com.pg Rooms: 40 Bacchus rooms, 49 Fountain rooms, 24 Dakota Rooms, 22 Dakota Junior Suites, 11 Dakota Suites and 1 presidential suite. Business & Conference Facilities: Business centre, 5 boardrooms and secretarial services. Health…

Analysis

How is the Asia-Pacific region protecting tourist sites from overdevelopment
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Tourism in the Asia-Pacific region has seen impressive growth in recent years, aided by cheaper air fares, an expanding consumer class and increased exposure brought about by improved internet connectivity. Although these developments have led to significant economic benefits for countries across the region, they have also had some negative consequences, particularly for the environment. Around…

Analysis

How is Covid-19 affecting China’s Belt and Road Initiative?
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The Belt and Road Initiative (BRI) is a far-reaching plan for transnational infrastructure development, connecting five continents through land and sea corridors, and industrial clusters. Launched in 2013, the BRI was initially planned to revive ancient Silk Road trade routes between Eurasia and China, but the scope of the initiative has since extended to cover 138 countries, including 38 in…

Analysis

How Papua New Guinea is bolstering local production capacity
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In recent years Papua New Guinea has moved away from the long-held policy of tariff reductions towards import substitution and self-sufficiency. As the Covid-19 pandemic underlined the vulnerability of international supply chains, efforts to scale up local industrial production and decrease reliance on imported staples are taking on renewed importance. Policy In August 2017 PNG launched the…

Analysis

How Papua New Guinea’s extractive sector is navigating Covid-19
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The outbreak of Covid-19 in the first half of 2020 took an economic toll on countries around the world, with each experiencing the effects slightly differently. In Papua New Guinea the pandemic placed the country’s foreign exchange (forex) reserves under renewed pressure; PNG’s forex flows are primarily linked to commodity markets, many of which entered negative territory when the pandemic…