The result was that for the whole period from 1989 to 1999, a period when some of Papua New Guinea's very large mineral developments took place, the per capita growth in GDP was negative 1.6%. The period from 2000 to 2006 can be defined as a period of consolidation after the restoration of responsible macroeconomic management. Fiscal responsibility was reestablished.
Finally, the nature and functioning of the present international financial system of floating exchange rates, unrestricted capital movements and liberalised financial markets is also now BIS Review 89/1998  -2-  being questioned.