Papua New Guinea's (PNG) resource boom has come to an end. Theory suggests that the real exchange rate (RER) should subsequently depreciate in order to restore internal and external balance. In practice, however, the imposition of foreign exchange controls has led to a large backlog in foreign...

This 2017 PNG Economic Survey is written at the start of Prime Minister O'Neill's second full term, following the June/July 2017 national elections. How can the new government respond both to the current economic difficulties and to longer-term growth and revenue challenges? This Survey examines...