•  Lending: Lending by the commercial banks has picked up in recent weeks, which is an encouraging sign. We hope this will continue given the low interest rate environment. The Central Bank has encouraged the commercial banks to pass on the benefits of the low interest rates to their customers.
In addition, the Bank partially liberalised exchange controls on 1st June 2005 to further encourage investment and business activity in the country. 3. The Central Bank  The reforms to the financial system, which commenced in 2000 have involved changes to the various Acts, which the Bank of PNG supervises and administers.