global economic recovery

COVID-19 Affects Global Economy

Central Bank Governor, Loi Bakani stated that the recovery reflects the impact of stimulus packages and vaccination programs, mainly in the advanced economies. 

He added that the improvement in global trade and international commodity prices would support the recovery in Papua New Guinea (PNG).

The PNG Government’s fiscal support, easing of containment measures, adjustments to the new-normal working environment, and vaccination rollout will also aid the recovery.