Defectors could oust Papua New Guinea’s prime minister

2019 ◽  
Keyword(s):  
Papua New Guinea ◽  
Prime Minister ◽  
New Guinea ◽  
Content Type

Headline PAPUA NEW GUINEA: Defectors could oust prime minister

Papua New Guinea may encounter 'resource curse'

2018 ◽  
Keyword(s):  
Papua New Guinea ◽  
Prime Minister ◽  
Resource Curse ◽  
New Guinea ◽  
Business Environment ◽  
Asia Pacific ◽  
Gdp Growth ◽  
Content Type ◽  
Recent Policy ◽  
Economic Outlook

Subject The economic outlook for Papua New Guinea. Significance Rating agency Moody’s on March 23 shifted Papua New Guinea (PNG) to 'negative watch', a further indication of the economic challenges facing the re-elected Peter O’Neill government as it prepares to host the Asia-Pacific Economic Cooperation (APEC) summit in November this year. PNG in February suffered its largest earthquake for nearly a century in areas surrounding the largest resource projects in the country. Impacts Despite a planned major expansion in LNG production, recent policy decisions suggest a troubled business environment. Reversals in economic policy, combined with the earthquake, will further depress GDP growth. Prime Minister Peter O’Neill is weaving together a large coalition which should cement his position until at least after APEC. Foreign exchange shortages will harm growth and discourage investment, due to fears that firms cannot pay dividends to foreign shareholders.

Papua New Guinea economy set to 'muddle down'

2016 ◽  
Keyword(s):  
Papua New Guinea ◽  
Foreign Exchange ◽  
Prime Minister ◽  
Commodity Prices ◽  
New Guinea ◽  
Government Budget ◽  
Content Type ◽  
History Of ◽  
The Government ◽  
Economic Outlook

Subject The political and economic outlook for Papua New Guinea. Significance Despite combined GDP growth of nearly 20% over the last two years, the fall in commodity prices has exposed the downside risks in the government's economic strategy and seriously damaged its political credibility. A government cash crisis driven by a 20% fall in expected revenues in 2015 is fracturing the country's politics. Papua New Guinea (PNG) has a history of getting through crises, although this has usually involved a changing of the prime minister and an IMF programme. Impacts The government budget crisis and foreign exchange shortages will hurt growth in 2016. There is a risk of forced sale of foreign-owned businesses and land. Foreign exchange shortages may be the greatest risk to businesses.

Political instability will worsen in Papua New Guinea

2016 ◽  
Keyword(s):  
University Students ◽  
Papua New Guinea ◽  
Foreign Exchange ◽  
Prime Minister ◽  
New Guinea ◽  
Content Type ◽  
Ethnic Tensions ◽  
Investment Opportunities ◽  
Port Moresby ◽  
International Financing

Subject The outlook for politics and security in Papua New Guinea. Significance The police shooting of unarmed university students in the capital, Port Moresby, on June 8 has reverberated around the country, with ethnic tensions emerging in other campuses and growing discontent at Prime Minister Peter O'Neill's actions and those of the police. Behind the violence are growing political frustrations. Sovereign and political risk has increased as O'Neill is not perceived as responding appropriately to accusations of corruption and economic mismanagement. Impacts Unrest will cause minor disruptions to businesses, but the police and army will keep discontent under control. Nationalistic land, agriculture and business policies may reduce investment opportunities, except for well-connected large investors. The uncertainty has diminished prospects of international financing to ease government cash and foreign exchange shortages.

Investors will face more scrutiny in Papua New Guinea

2019 ◽  
Keyword(s):  
Papua New Guinea ◽  
Oil And Gas ◽  
Prime Minister ◽  
New Guinea ◽  
Policy Formulation ◽  
Content Type ◽  
Change Of Direction ◽  
Finance Minister ◽  
Take Back ◽  
The Government

Subject The political outlook for Papua New Guinea under a new government. Significance Legislators have elected former Finance Minister James Marape as prime minister. He replaces Peter O’Neill, who resigned ahead of a no-confidence vote. Marape has promised to “take back the economy” and a “change of direction” in handling major resource extraction projects to achieve better returns for the government and people. Impacts The change in leadership may result in better governance and more consultation on policy formulation. Dealing with disgruntled landowner groups poses real problems for resource project management. The country will remain heavily dependent on foreign investment in resource projects, particularly mining, oil and gas.

New direction may follow Papua New Guinea election

2017 ◽  
Keyword(s):  
Service Delivery ◽  
Papua New Guinea ◽  
World Bank ◽  
Prime Minister ◽  
New Guinea ◽  
General Election ◽  
Election Campaign ◽  
Economic Management ◽  
Content Type ◽  
The Imf

Subject The 2017 general election in Papua New Guinea. Significance A two-week long general election in Papua New Guinea (PNG) ends on July 8. The election campaign has not gone as well as hoped for the incumbent government headed by Prime Minister Peter O’Neill, due to concerns about economic management, corruption and service delivery. Impacts There is some risk, though small, that an O’Neill win would prompt local unrest or calls for regional independence. Cancelling plans to host the APEC summit could become a symbol for moving spending priorities to education, health and infrastructure. The need for budgetary support from the IMF or World Bank might encourage more market-oriented policies.

Papua New Guinea politics will enter brittle stability

2018 ◽  
Keyword(s):  
Economic Growth ◽  
Natural Gas ◽  
Papua New Guinea ◽  
Prime Minister ◽  
New Guinea ◽  
Liquefied Natural Gas ◽  
Infrastructure Investment ◽  
Content Type ◽  
The Government ◽  
The Cost

Subject The outlook for politics and the economy in Papua New Guinea. Significance Prime Minister Peter O’Neill has consolidated his government since winning elections in mid-2017. However, economic growth in Papua New Guinea (PNG) has slowed, forcing the government to rein in its spending plans. A 19-billion-dollar liquefied natural gas (LNG) project has not generated the expected fiscal windfall, with most of the revenue still needed to repay the cost of the earlier infrastructure investment. Impacts Links with China are likely to strengthen after President Xi Jinping's visit next month. O'Neill will consolidate his position through the courts and police. Bougainville cannot afford independence unless it can negotiate with mining firms to reopen the Panguna copper mine.

Indigenous reporting of a national housing corporation

2018 ◽  
Vol 36 (2) ◽  
pp. 221-233 ◽  
Author(s):  
Alistair Brown
Keyword(s):  
Papua New Guinea ◽  
Financial Reporting ◽  
Local Level ◽  
New Guinea ◽  
Financial Statements ◽  
Financial Reports ◽  
Content Type ◽  
Housing Corporation ◽  
Regulatory Instruments ◽  
National Housing

Purpose The purpose of this paper is to assess the level of reporting compliance achieved by the National Housing Corporation (NHC) of Papua New Guinea in terms of local indigenous reporting expectations. Design/methodology/approach Testing of a framework of indigenous accountability through indigenous enactments and regulations is conducted by textual analysis, which is informed by the theory of indigenous alternatives to assess the financial reporting compliance of the NHC of Papua New Guinea’s financial statements for years ending 2004-2013. Findings Documentary evidence of the state auditor reports of the NHC’s financial statements reveals that the corporation’s financial reports are not submitted for audit on a timely basis and receive disclaimed audit opinions. Despite the clear indigenous reporting expectations raised by local legislative and regulatory instruments, the NHC is unable or unwilling to provide an accurate account of their activities. Practical implications The lack of compliant reporting suggests that the planning, management and monitoring of the housing needs of residents of Papua New Guinea are compromised. There also appears merit in asking why parliament continues to fund the corporation given its difficulties in meeting local-level reporting expectations. Social implications The results have wider implications for the reporting ideologies of indigenous-run housing corporations operating in other developing countries. It might be fruitful to meet local reporting expectations before taking on the specialized reporting that accompanies introduced western-oriented policies on housing. Originality/value Accountability in relation to indigenous property management is constructed through a lens of reporting issues facing a developing country housing corporation.

Food security in Papua New Guinea: the need to go beyond “business case CSR”

2016 ◽  
Vol 12 (3) ◽  
pp. 523-534 ◽  
Author(s):  
Fernanda de Paiva Duarte ◽  
Benedict Young Imbun
Keyword(s):  
Food Security ◽  
Papua New Guinea ◽  
New Guinea ◽  
Business Case ◽  
Community Relations ◽  
Design Data ◽  
Content Type ◽  
Security Issues ◽  
Level Of Satisfaction ◽  
Corporate Social

Purpose The purpose of this paper is to canvass the views of villagers from a remote region of Papua New Guinea (PNG) on food security issues in their community and their level of satisfaction with food security initiatives provided by the extractive company that operated on their land. Design/methodology/approach Qualitative design: data gathered through 14 semi-structured, face-to-face interviews and a discussion forum with 20 villagers from Pawa. Purposive sampling. Snow-balling method of recruitment. Findings Food security was identified as a growing concern among the villagers, who also expressed dissatisfaction with the food security projects offered through the corporate social responsibility (CSR) program offered by the company operating on their land. Communication problems between company and community and lack of trust were evident. Research limitations/implications Possibility of self-selection bias among participants. The perspective of the company was under-represented. Practical implications The study highlights the need for CSR practitioners to be mindful of the importance of effective communication with local communities. Social Implications The study reveals the importance of meaningful dialogue between company and host communities, which can lead to a more efficient allocation of resources and empowerment of host communities. Originality/value The study bridges a research gap in the field of CSR in developing countries because food security, as a CSR issue in PNG communities, is under-researched. The study contributes to a better understanding of company –community relations in PNG and how these relations can be improved through a more normative approach to CSR. It also highlights the importance of empowering host communities through meaningful dialogue.

Papua New Guinea in 2016

Asian Survey ◽  
2017 ◽  
Vol 57 (1) ◽  
pp. 194-198 ◽  
Author(s):  
Ronald May
Keyword(s):  
Civil Society ◽  
Natural Gas ◽  
University Students ◽  
Papua New Guinea ◽  
Prime Minister ◽  
New Guinea ◽  
Gas Production ◽  
Liquefied Natural Gas ◽  
Gdp Growth ◽  
Step Down

Prime Minister Peter O’Neill came under continuing pressure to step down pending resolution of corruption charges but resisted demands from university students and civil society groups and convincingly defeated a parliamentary vote of no confidence. Papua New Guinea experienced a further decline in GDP growth and faced landowner threats to shut down liquefied natural gas production.

Papua New Guinea in 2011

Asian Survey ◽  
2012 ◽  
Vol 52 (1) ◽  
pp. 227-232 ◽  
Author(s):  
Ray Anere
Keyword(s):  
Supreme Court ◽  
Papua New Guinea ◽  
Prime Minister ◽  
New Guinea ◽  
Power Struggle ◽  
The Supreme Court ◽  
One Year

Abstract The current power struggle has taken on historical proportions, interrupting the four-year-old Somare government in Papua New Guinea one year short of its full five-year term. In August 2011, Speaker of Parliament Jeffrey Nape declared the Office of Prime Minister vacant, resulting in Parliament electing Peter O'Neill as the new prime minister. Late in the year, the Supreme Court ruled otherwise.

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