Low vax rates threaten PNG economy

By Kevin McQuillan

COVID-19 will remain a threat to the Papua New Guinea economy throughout 2022, due to the low rate of vaccination and poor health infrastructure, compounded by a lacklustre foreign investment climate. But these pressures will be balanced somewhat by higher commodity prices and the re-opening of the Porgera gold mine.

Papua New Guinea’s economy is expected to improve this year, if the Porgera gold mine reopens as expected in April – seven months later than previously announced.

The re-opening represents a win for the Marape government, as it has successfully doubled equity in the mine to a 53-47% split. The nearly three-year mine closure cost . . .

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