ON 30 September, Papua New Guinea’s central bank (BPNG) released its six-monthly monetary policy statement. This was a mixture of good and bad news.
I mentioned in a blog a couple of weeks ago that possibly the only thing more boring in economics than exchange rates was monetary aggregates.
So this blog will go into these monetary aggregates but once again, there are some very important development issues tucked away among the technical details.
Indeed, there are some very worrying steps being taken that augur poorly for PNG’s international credibility and ultimately its future development.