Like the rest of the world, we must remain diligent in our efforts to entice China’s large group of vacationers to our shores.
The reforms included the financial sector, whereby structural reforms at the Bank of Papua New Guinea were considered necessary to achieve macroeconomic stability over the medium term. A new Central Banking Act (CBA 2000), which became effective on 16 June 2000, enhanced the independence of the Central Bank in the formulation and conduct of Monetary Policy.