The substantial FX reserves provide fundamental guarantee for stable convertibility of the local currency. The mastering of financial information and related statistics enables regulators and practitioners to perform self-assessment in respect of their own results. Such information also provides valuable and pivotal reference for policy formulation.
Our past history and record of management in Papua New Guinea, especially in public institutions which are guardians of the nation’s interests and wealth, has given rise to the need to re-establish proper procedures and order.