Correcting Papua New Guinea's costly economic cycles
|Collections||Pacific Economic Bulletin (1991-2010)|
|Title:||Correcting Papua New Guinea's costly economic cycles|
|Publisher:||Crawford School of Public Policy, The Australian National University|
Asia Pacific Press
The PNG government has been generating a costly economic cycle since the shocks of the late 1990s. The economic costs are an unstable exchange rate, high interest rates and high inflation. 2002 exhibits early signs of a repeat of this cycle, and averting macroeconomic instability over 2003 will be the first economic test of the new government. But correcting for the underlying weaknesses that led to this cycle through fiscal indiscipline will be the government?s more important challenge.
|172_correcting.pdf||76 kB||Adobe PDF|