PNG governor stands firm on independence from government
Bakani hits back at claims institution has become a “puppet”
The governor of the Central Bank of Papua New Guinea has hit back at claims his institution has become a government “puppet”, while defending his position at the head of the central bank.
In a letter to Central Banking, Loi Bakani says the central bank is required, by law, to have “ongoing liaisons” with the government where it will “provide direct advice… in certain specified circumstances”.
“The bank is independent of the government and does not rely on the government for funding,” Bakani
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