Over these years in which the Board has met in Port Moresby and around the country, we have seen the economy turned around from a depressed state some three years ago. The economy has recovered and there is renewed confidence in the market. However, much of the fundamentals still have to be continuously nurtured, including that of transportation and other physical infrastructure.
We therefore have to remain vigilant and work towards ensuring these gains are sustained. BIS Review 53/2005  1  2. Current economic conditions  The Central Bank, in its March 2005 Quarterly Economic Bulletin, released on 31st May 2005, noted improvements in the main economic indicators, and I shall not spend too much time on these developments.