Papua New Guinea: pathways from a potential crisis
Devpolicy Talks1 Marras 2015

Papua New Guinea: pathways from a potential crisis

Speaker: Paul Flanagan, Visiting Fellow, Development Policy Centre, Crawford School, ANU.

Papua New Guinea will need to make some substantial adjustments in its budget and exchange rate settings to avoid the twin risks of an economic crisis similar to the ones it faced in the 1990s and a further growth slowdown. Investment ratings agencies Moodys as well as Standard and Poors have moved PNG’s outlook to negative; the PNG Treasury mid-year budget document showed 20 per cent of planned revenue was no longer likely; large expenditure cuts have been foreshadowed by the government; economic activity is slowing; and businesses are finding it hard to get foreign exchange.

In this public seminar, Mr Paul Flanagan – a visiting fellow at the Development Policy Centre, a former senior executive at the Australian Treasury, and former senior advisor to the PNG Treasury – presented the challenges facing PNG in a historic and international context, and outlined the options. In particular, revenue, expenditure and financing options.

This public seminar was presented by the Development Policy Centre at Crawford School of Public Policy, The Australian National University.

Presentation: https://devpolicy.crawford.anu.edu.au/sites/default/files/events/attachments/2015-10/10_-_26_oct_pathways_from_potential_crisis.pdf

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