PNG’s Popoitai: inflation could get out of hand
Benny Popoitai, a deputy governor of the Bank of Papua New Guinea, on 13 May warned that unless foreign exchange inflows are managed appropriately, the country is at risk of higher inflation.
"The build-up of liquidity in the banking system stems from foreign exchange inflows as a result of high international commodity prices, capital injections from abroad and government expenditures," Popoitai said. He added that over the last decade, liquidity levels in Papua New Guinea had increased fivefold
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