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PNG plans wealth fund to manage economic boom

Posted on 31 May 2011

Ian KemishPapua New Guinea’s Government says the country risks high levels of inflation and currency appreciation, if it does not manage its current resources boom well. Australia’s High Commissioner to PNG Ian Kemish has told Radio Australia’s Pacific Beat program, one way to manage the boom is to establish sovereign wealth funds.
“Papua New Guinea has taken very careful advice from Australia in particular a set of in-prinicple decisions about the establishment of sovereign wealth funds,” he said……………………………………….Full Article: Source

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