“In the latest issue of the Pacific Economic Monitor, released yesterday (March 26), the ADB forecasts that the average rate of growth in its 14 developing member countries in the Pacific region will fall to 5.2%, as earlier gains from major foreign investments and public infrastructure projects fade. The performance of the region’s larger natural resource exporting economies (Papua New Guinea (PNG) and Timor-Leste) continues to drive the economic outlook, with these two economies comprising about two-thirds of the weight in the regional growth average…” [read more].
Pacific regional events
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- Pacific Beat: Tuesday
- Indonesian fugitive who was granted PNG citizenship caught after decade on the run
- Could criminals be taking advantage of the COVID-19 pandemic to smuggle drugs through the Pacific?
- Deal allowing 170 Vanuatu workers to work on Australian mango farms very close
- Australian community ravaged by bushfire amazed by PNG donation of more than $60,000