Economy in Papua New Guinea

  • APEC economies growth slows to 3.1 pct in Q2

    BRUNEI , 2015/11/18 Increase among the 21 Asia-Pacific Economic Cooperation (APEC) economies softened to 3.1 % in the second quarter of 2015, down from 3.2 % in the initial quarter and 3.4 % a year ago, according to an APEC economic analysis released on Tuesday. The statement said the increase slowdown reflected the prolonged weakness in world economic activity as the modest recovery in advanced economies was matched by a general slowdown in emerging market economies. The moderation in GDP levels could be attributed to declining investments and lacklustre exports, according to the statement. "Economies across the Asia-Pacific continue to grow but find themselves in a holding pattern of lower increase in the absence of high trade volumes," said Alan Bollard, Executive Director of the APEC Secretariat.

  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.

  • PNG to take over Ok Tedi, but how?

    PAPUA NEW GUINEA, 2013/05/28 The PNG PM has announced that the government will not allow for Ok Tedi’s lease renewal under current ownership arrangements. The mine requires a change to its legislation to allow underground mining if it is to remain in production beyond the next couple of years.

  • Papua New Guinea Prime Minister Peter O’Neill

    PAPUA NEW GUINEA, 2013/01/17 For some time, observers of the country have been kept on a slim diet of academic analysis or fragmented news items for their considerate of the country and the intentions of its political leaders. As PNG emerges from a politically disruptive completed two years, O’Neill has been speaking out abroad. At the Bali Democracy Forum and the Lowy Institute for International Policy, O’Neill clarified his government’s objectives over its five-year term. Two broad priorities can be drawn from his remarks.
Trending Articles