US EditionParliament approves amendments to the Central Banking Act 2000
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The manager cited a "strange macroeconomic balance," with public pension and welfare spending on one side and the maintenance of high interest rates on the other; regarding the bank, he said that "we escaped something very serious, which would have been allowing it to be bailed out."
Parliament approves amendments to the Central Banking Act 2000
Parliament has approved a revision to the Central Banking Act 2000 to enhance cash flow management across the government. The amendment ensures that the Bank of Papua New Guinea will provide the Department of Treasury and Finance with weekly closing balances for all government accounts, along with a weekly statement of account operations. This will facilitate better oversight and management of government cash flows. To access this post, you…
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