A lack of transparency can make fiscal rules appear arbitrary and undermine their legitimacy. A review of the fiscal rules should add clarity and facilitate the assessment of compliance with them, while preserving their stability-oriented nature.
May I thank the Minister for Finance and Treasury, Honourable Patrick Pruaitch for accepting our invitation to officiate on this important occasion. The Bank of Papua New Guinea has timed the release of the new polymer K5 and K10 banknotes to coincide with the Kina and Toea Day, which is on the 19th of April 2008.