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Author: International Monetary Fund. Asia and Pacific Dept Publisher: International Monetary Fund ISBN: 1475572395 Category : Business & Economics Languages : en Pages : 66
Book Description
This 2016 Article IV Consultation highlights that Papua New Guinea is facing headwinds stemming from low commodity prices and is recovering from a major drought; these factors have weighed on economic growth, weakened the external position, and created fiscal challenges. Foreign exchange (FX) remains in short supply, but inflows have recently picked up somewhat. Near-term risks to the outlook are tilted to the downside, as fiscal retrenchment may have a greater impact on the economy than currently expected and the limited availability of FX continues to constrain imports and economic activity. A further drop in commodity prices would weaken the external and fiscal positions.
Author: International Monetary Fund. Asia and Pacific Dept Publisher: International Monetary Fund ISBN: 1475572387 Category : Business & Economics Languages : en Pages : 66
Book Description
This 2016 Article IV Consultation highlights that Papua New Guinea is facing headwinds stemming from low commodity prices and is recovering from a major drought; these factors have weighed on economic growth, weakened the external position, and created fiscal challenges. Foreign exchange (FX) remains in short supply, but inflows have recently picked up somewhat. Near-term risks to the outlook are tilted to the downside, as fiscal retrenchment may have a greater impact on the economy than currently expected and the limited availability of FX continues to constrain imports and economic activity. A further drop in commodity prices would weaken the external and fiscal positions.
Author: Colin Filer Publisher: ANU Press ISBN: 1760461504 Category : Science Languages : en Pages : 451
Book Description
Despite the difference in their populations and political status, New Caledonia and Papua New Guinea have comparable levels of economic dependence on the extraction and export of mineral resources. For this reason, the costs and benefits of large-scale mining projects for indigenous communities has been a major political issue in both jurisdictions, and one that has come to be negotiated through multiple channels at different levels of political organisation. The ‘resource boom’ that took place in the early years of the current century has only served to intensify the political contests and conflicts that surround the distribution of social, economic and environmental costs and benefits between community members and other ‘stakeholders’ in the large-scale mining industry. However, the mutual isolation of Anglophone and Francophone scholars has formed a barrier to systematic comparison of the relationship between large-scale mines and local-level politics in Papua New Guinea and New Caledonia, despite their geographical proximity. This collection of essays represents an effort to overcome this barrier, but is also intended as a major contribution to the growth of academic and political debate about the social impact of the large-scale mining industry in Melanesia and beyond.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9290925825 Category : Business & Economics Languages : en Pages : 242
Book Description
Papua New Guinea's economic growth has outpaced the majority of economies in Southeast Asia and the Pacific since 2007. Its development challenges, however, remain daunting, and it lags behind other countries in the region in terms of per capita income and achievement of the Millennium Development Goals. This raises the question of how the country can make its economic growth high, sustained, inclusive, and broad-based to more effectively improve its population's welfare. This report identifies the critical constraints to these objectives and discusses policy options to help overcome such constraints.
Author: Oxford Business Group Publisher: Oxford Business Group ISBN: 1910068101 Category : Languages : en Pages : 256
Book Description
Papua New Guinea is poised for change, as the country’s mineral riches are providing a major opportunity for economic development through the exploitation of natural resources. The government’s five-year strategic plan focuses on key development enablers such as free education, improvements to health services, the strengthening of law and order, rural development projects and infrastructure construction. Inward investment has increasingly been driven by the extractive sector, including oil and gas, whose share of the country’s total investment stock rose from 71% to 87% between 2004 and 2012. Statistics from the Investment Promotion Authority reveal that the largest share of new foreign direct investment in 2013, some 24.6%, targeted the construction sector, outpacing that in financial services, manufacturing and mining, which accounted for 19.8%, 18.1% and 10.9%, respectively. While minerals and hydrocarbons dominate exports, around 85% of the country’s population is employed in the agriculture sector. The start of liquefied natural gas exports in 2014 is expected to return the current account to a surplus in 2015, forecast as high as 12.1% of GDP before returning to 9.1% the following year. While the outlook for state revenues remains strong in the medium term, ensuring the sustainability of further spending increases will be key to preserving macroeconomic stability.
Author: Oxford Business Group Publisher: Oxford Business Group ISBN: 1910068640 Category : Languages : en Pages : 244
Book Description
In terms of investment, Papua New Guinea’s geographic location, geopolitical importance and abundance of commodities, as well as the success of the PNG Liquefied Natural Gas project, have helped it become a favoured destination for Chinese and Japanese ventures, with expectations of further foreign direct investment (FDI) going forward, particularly in the primary sector. However, PNG remains a challenging place for international participants, and while high-level, strategically important projects are likely to proceed smoothly, smaller, more entrepreneurial ventures may face difficulty. To improve this reputation the country is trying to boost transparency and efficiency in business transactions, though new initiatives under way could see it adopt more protectionist policies, thereby going against the tenets of liberal economics it has traditionally embraced.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1475558236 Category : Business & Economics Languages : en Pages : 72
Book Description
Papua New Guinea has seen solid economic growth over the past decade, supported by sound macroeconomic policies. This 2012 Article IV Consultation discusses that the financial sector in Papua New Guinea remains profitable and well capitalized, but vulnerabilities have increased. Executive Directors have commended the authorities for achieving macroeconomic stability and a sustainable fiscal position. To preserve these achievements and promote inclusive development, it will be important to combine steady, affordable growth in government spending with improvements in public financial management and expenditure effectiveness.
Author: Oxford Business Group Publisher: Oxford Business Group ISBN: 1910068365 Category : Languages : en Pages : 256
Book Description
In Papua New Guinea hopes are high that real change is on its way; the country’s political, administrative, financial and technical leaders now have to find a way to ensure the most productive distribution and use of financial resources. Many international actors are watching closely to see how this young country negotiates its path. Papua New Guinea became a major exporter of gas in 2014 when the $19bn PNG liquefied natural gas (LNG) project was completed ahead of schedule and within budget, significantly increasing the size and strength of the economy. The year ahead is likely to see PNG benefit from the further development of its hydrocarbons sector, fuelling the growth of its economy as a whole. The LNG influx also poses challenges, however, in terms of ensuring inclusive growth and productive use of the new revenues. PNG takes pride in being a final frontier of natural and cultural development, but the task ahead is to protect the country’s heritage while becoming part of the global economy.
Author: Gilad James, PhD Publisher: Gilad James Mystery School ISBN: 361028790X Category : Languages : en Pages : 71
Book Description
Papua New Guinea is a sovereign state located in the western Pacific Ocean, comprising the eastern half of the island of New Guinea and its offshore islands. The country has a diverse population of over eight million people, with hundreds of different languages spoken throughout the country. The official languages are English, Tok Pisin, and Hiri Motu. The economy is mostly dependent on agriculture, mining, and oil and gas production. The country is known for its biodiversity, with over 800 languages spoken and more than 10% of the world's species of animals and plants found within its borders. Papua New Guinea has a rich cultural heritage, with traditional practices such as tribal warfare, bride price, and initiation ceremonies still practiced in some regions. Papua New Guinea gained independence from Australia in 1975 and has since faced various challenges, including social unrest and political instability. The country is also prone to natural disasters such as earthquakes, volcanic eruptions, and cyclones. Despite these challenges, Papua New Guinea has made significant progress in recent years in areas such as education and health care. The government has also implemented policies aimed at promoting economic growth and reducing poverty. The country is a member of the United Nations, the Commonwealth of Nations, and the Pacific Islands Forum, among other international organizations.
Author: International Monetary Fund. Asia and Pacific Dept
Author: IBP, Inc.
Author: IBP, Inc.
Author: International Monetary Fund. Asia and Pacific Dept
Author: Colin Filer
Author: Asian Development Bank
Author: Oxford Business Group
Author: Oxford Business Group
Author: International Monetary Fund
Author: Oxford Business Group
Author: Gilad James, PhD