Reposted from The Austrailian
By Rowan Callick
THE Papua New Guinean government is boosting the country’s embryonic micro-finance sector as it intensifies efforts to turn the country’s narrowly based resources boom into broader economic growth.
In Port Moresby yesterday, Prime Minister Peter O’Neill launched a Centre for Excellence in Financial Inclusion, backed by the central bank — the Bank of Papua New Guinea — AusAID, and the Asian Development Bank. More…
Reposted from Reuters
By Anna Yukhananov
nternational Monetary Fund (IMF) mission chief to Romania
The International Monetary Fund said it met with Pakistani officials last week, but has not yet received a request for aid from the South Asian country, which faces a critical balance of payments situation.
“Pakistan faces difficult economic challenges and we urge the authorities to begin taking the necessary actions to stabilize the economy and lay the groundwork for future growth,” Jeffrey Franks, the IMF mission chief to the country, said in a statement. More…
Myanmar certainly deserves credit for beginning an impressive process of transformation
FOR some it’s the new El Dorado. Foreign investors are lining up to do business in Myanmar, a once-pariah nation which only a couple of years ago was almost as isolated as North Korea today. More…
Laos’ natural resources and access to Thailand’s growing consumer market attract Chinese investors.
It looks like Laos, China’s tiny landlocked southern neighbour, is about to find out whether sharing a border with China is a good thing. Laos has two things China needs – natural resources such as potash and hydropower, and access to Thailand’s large and growing consumer market. Perhaps that is why China is so keen to provide a $7.2bn loan to the small communist country for a long-awaited controversial high-speed rail project between the two. More…
Reposted from BBC News
Is Mongolia at the cutting edge of capitalism? Click here for video/radio.
Photo Credits: BBC
Mr Aso reaffirmed an earlier promise to waive part of Myanmar’s US$5.74 billion debt to Japan
The Japanese government will lend official development assistance (ODA) to Myanmar, implement a plan to cancel national debt and help complete the Thilawa special economic zone, Japanese officials announced in Yangon last week. More…
According to Ek Tha, Sok An said Cambodia attracts because of two main reasons: political and macroeconomic stability
An assistant to former US president Bill Clinton said Cambodia has many potential areas for foreign direct investment (FDI) from many countries, including the US. More…
Reposted from The UB Post
By B. Khash-Erdene
Currently, the mongolian government has 6.7 trillion MNT in debt. In the last twenty years, the government has lent around three trillion MNT. On June 2012, the Development Bank released bonds worth 580 million USD and in addition to this the government has released bonds worth 1.5 billion USD last month. More…
Japan will eventually forgive more than half of its Y502 billion ($6 billion) in claims on Myanmar
NAYPYIDAW, Myanmar–Japan will this month start waiving some of its debt claims on Myanmar and confirmed it will extend Y50 billion of new loans to the long-isolated Southeast Asian nation, Japan’s finance minister, Taro Aso, said Thursday. More…
Laos’ impressive economic growth is beginning to pique investor’s interests
Laos – the sleepy, land-locked nation often overlooked in favor of neighboring Thailand or Vietnam – is finally garnering the international attention that it deserves. The “Jewel of the Mekong” posted 8.0% GDP growth in 2011 and has been the fourth steadiest-growing economy in the world over the last nine years. Despite being the smallest economy in Southeast Asia, it is also slated to be the fastest-growing in the region this year, on track to post 8.3% GDP growth according to the IMF. More…
