The most effective way of counter-acting the “Dutch Disease” phenomena is by developing the traditional industries. No question that in Papua New Guinea agriculture will be the preferred industry to concentrate our efforts and focus. Given that the resources are available, and the production technologies are simple, the development is not hard to come by.
16 See Board of Governors of the Federal System (2020), “Federal Reserve Issues FOMC Statement,” press release, December 16, https://www.federalreserve.gov/newsevents/pressreleases/monetary20201216a.htm. 17 See Ryan Bush, Haitham Jendoubi, Matthew Raskin, and Giorgio Topa (2020), “How Did Market Perceptions of the FOMC’s Reaction Function Change after the Fed’s Framework Review?” Federal Reserve Bank of New York, Liberty Street Economics (blog), December 18, https://libertystreeteconomics.newyorkfed.org/2020/12/how-did-market-perceptions-of-the-fomcs-reactionfunction-change-after-the-feds-framework-review.html.