The funds will be domestically managed and off shore invested. My assessment is that after several iterations we reached a state, in which it will be of great value in stabilizing the economy and preventing the “Dutch Disease” phenomena from occurring, and if it does, to counter act it. I will touch on two very important initiatives by the Bank of Papua New Guinea.
Those are in my domain and very dear to me. The Bank, in collaboration with the Pacific Financial Inclusion Program, held a two day workshop on the 22nd and 23rd of August to discuss the Financial Service Sector Assessment report. The report identified gaps and issues as to why 85% of the population continues to be unbanked.