The average unemployment rate in the most recent decade is lower than the one in the decade preceding it, which in turn was lower than the one prior to that. Clearly, these outcomes are also a function of the macroeconomic environment, and cannot be solely attributable to the inflation target.
In addition, borrowing restrictions on domiciled foreign companies were removed to encourage growth in lending. To date, consistent with the Banks expectation, the liberalization has had limited impact on the balance of payments position of the country. This is the result of a close and ongoing dialogue and communication between the stakeholders and the Bank of Papua New Guinea.