Papua New Guinea’s Genia rejects calls for devaluation

The acting governor of Papua New Guinea’s central bank has denied any plans to devalue the national currency.

“There has been a lot of speculation recently on a devaluation of the kina,” Elizabeth Genia said, according to a July 10 report in The National.

“While there are grounds for the kina to depreciate in a gradual and in a measured way, any talk of a devaluation is unfounded,” Genia continued.

Treasurer Ian Ling-Stuckey also rejected calls for a devaluation. “This will not happen,” The

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