Papua New Guinea’s Genia rejects calls for devaluation

IMF says kina is heavily overvalued

PNG notes and coins
Papua New Guinean notes and coins
Bin im Garten

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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