Financial Times
“This is the last Monetary Policy Statement from the Bank of Papua New Guinea under the present governance construction,†Governor Genia said. With only the Governor and Deputy Governor sitting on each the MPC and the Bank’s Board, the committee’s membership might be determined by the Head of State, primarily based on recommendation from the National Executive Committee and the Treasurer. The appointment of the three extra committee members is anticipated to progress smoothly, with the goal of having the new MPC operational as soon as practicable. “This change will facilitate more sturdy discussions and decision-making processes in …