World Bank Report

COVID Impacts Family Finances: Survey

The survey had found that coping with household finances is the biggest worry for PNG families during the COVID-19 pandemic.

The study shows that poorer households are more likely to have implemented coping strategies that reduce their savings and increase their household debt.

It revealed that while levels of employment, access to education and healthcare remained relatively stable from January to June 2021, 93 percent of households in PNG had used at least one economic coping strategy since the beginning of 2021, and 40 percent had used five or more coping strategies.

80 per cent of people in rural areas are unbanked: Report

Bank of Papua New Guinea Governor Loi Bakani said the country’s central bank have put in some initiatives to address it.

 The financial inclusion initiatives of the Bank of PNG include: