Papua New Guinea: Financial System Stability Assessment

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2011 Issue 163

Publication date: July 2011

ISBN: 9781455291694

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Investments and Securities-General , ISCR , CR , BPNG , asset , bank , enforcement responsibility , due diligence , PNG LNG project , BPNG enforcement responsibility , property-market decline , headline inflation , market assessment , reverse repo , BPNG function , BPNG income , PNG's bank , LNG project , Loans , Commercial banks , Financial sector , Nonperforming loans , Securities , Global

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Peru

Nepal

Republic of Congo : 2001 Article IV

Summary

Papua New Guinea (PNG) was only mildly impacted on the financial front during the global crisis. Although the financial sector in PNG has been a source of strength in 2000, vulnerabilities exist and need to be carefully managed. There are important steps needed to strengthen the regulation and supervision of the banking and insurance sectors. The development of local government securities markets is important for system stability. Five years after the enactment of the Proceeds of Crime Act (POCA), there is still no legislation on terrorist financing.