• 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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In recent years Papua New Guinea’s trade and investment environment has been characterised by government policies aimed at generating wider – and more immediate – fiscal and social benefits from the country’s resource wealth, while simultaneously growing exports and decreasing imports as it develops a broader economic base. Australia remains a...

 

How can the IMF help developing economies in Asia Pacific mitigate the challenges of the pandemic?

 

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...

 

Papua New Guinea is a vast archipelago, of which the main island – shared with Indonesia – forms the largest tropical island on Earth. Known for its unique flora and fauna, the country is famous for its environmental variety. However, with more than 850 languages spoken within its borders, it is also considered one of the most culturally...

 

The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project has led to some criticism of the national administration; thus, the future for Papua New Guinea must be navigated with care. Peter O’Neill, who secured a fourth term as prime minister in the mid-2017 elections, faced the threat of a...

 

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...

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