Papua New Guinea: pathways from a potential crisis

Crawford School of Public Policy | Development Policy Centre

Event details

Public Seminar

Date & time

Monday 26 October 2015
12.30pm–1.30pm

Venue

Seminar Room 9, Level 2, JG Crawford Building 132, Lennox Crossing, ANU

Speaker

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

Contacts

Macarena Rojas
6125 7922

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.

Updated:  24 March 2017/Responsible Officer:  Crawford Engagement/Page Contact:  CAP Web Team