Hopes are high that an action plan to resolve the problems facing Papua New Guinea’s three main power grids will be endorsed at a key stakeholders’ meeting in Port Moresby this week, according to Gavin Murray, the International Finance Corporation’s (IFC) Country Manager for the Pacific region. Papua New Guinea’s grid development plans are being reviewed, with the aim of setting the priorities for upgrading the PNG’s major existing grids—Port Moresby, Ramu, and Gazelle—Murray told

There is ‘light at the end of tunnel’ for businesses struggling to access foreign exchange, according to the CEO of the country’s biggest bank, BSP. Robin Fleming says investment in the mining and petroleum sector and a new Sovereign Bond are the keys to boosting foreign exchange inflows. Since June 2014, Papua New Guinea businesses have been struggling to gain access to foreign exchange, with an estimated K$1.2 billion waiting to be converted. But the

The level of domestic violence in Papua New Guinea is ‘simply unacceptable, it is a shame on our communities and it is a shame on our nation’, according to Prime Minister Peter O’Neill. In a speech marking White Ribbon Day last week, he called on leaders in business, communities and the professions to take a lead in eliminating domestic violence. The following is an edited extract of his speech. We need to make the elimination

Papua New Guinea will find itself in a tight fiscal situation in 2016, according to the latest analysis by the Asian Development Bank’s economists. While more efficient public spending could yield large savings, they suggest more may need to be done to arrest the downward pressure on the currency. The latest edition of the Pacific Economic Monitor also states that PNG has been hardest hit among Pacific economies by the fall in commodity prices, worsened