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This article originally appeared in the Economist Intelligence Unit, 23 November 2022.
PNG’s sovereign wealth fund struggles to get off the ground
About the author
Maholopa Laveil
Maholopa (Maho) Laveil was the inaugural FDC Pacific Fellow at the Lowy Institute.
The sovereign wealth fund of Papua New Guinea (PNG) has received its first deposit of Kina5.6m (US$1.6m) in dividends from Kumul Consolidated Holdings, the country's trust for all state interests in non-resource ventures. However, this remains far below what the fund should be receiving, and the deposit was also placed into its trust account, rather than the main stabilisation fund. Delays in making the fund operational will compromise PNG's ability to take full advantage of its natural resource endowment.
Read the full article at the Economist Intelligence Unit.