These included preparing the then PNGBC for privatization, dealing with fast-money schemes, and enforcement actions against non-compliant institutions such as the Workers Mutual Insurance (PNG) Limited. We have introduced a number of new prudential standards for banks and supported the microfinance industry. We continue to work closely with all these financial institutions to ensure our people receive a safe and reliable financial service.
Peter Praet: The state of the global economy Speech by Mr Peter Praet, Member of the Executive Board of the European Central Bank, at the 4th World Policy Conference, Vienna, 9 December 2011. *  *  *  I would like to thank for John Hutchinson and Arnaud Mehl for their contributions in the preparation of this speech.