Papua New Guinea’s downgraded credit rating
Is Papua New Guinea’s economy at risk of spiralling into crushing debt?
Papua New Guinea’s credit rating has been further downgraded – the new rating by Moody’s means PNG now sits five levels below junk bond status which means it’s at high risk of economic default.
The higher cost of borrowing is just the latest economic setback for the country.
We were joined by Paul Flanagan,Director of Indo-Pacific Public Policy and Economics to find out more.