Category: Banks. Country: Papua New Guinea.
Bank of papua new guinea objectives. "For the advantage of the people of Papua New Guinea, the objectives of the Central Bank are: (a) to formulate and implement monetary policy with a view to achieving and maintaining price stability; (b) to regulate and supervise the financial institution to ensure stability of the financial system in Papua New Guinea; (c) to promote an efficient and national and international payments system; and (d) subject to the above, to promote macro-economic stability and economic growth in Papua New Guinea " . Since its inception in 1973 the Bank has been under the administration of six different governors. The first and the longest serving Governor of the Bank is Sir Henry ToRobert who served the Bank since it's inception in 1973 to 1993 for about twenty (20) years. His successor was Sir Mekere Morauta (current Prime Minister) who was in office for about 15 months from 31 July 1993 to 15 September 1994. He was replaced by Koiari Tarata who served from 15 September 1994 to 08 April 1998 for a period of three (3) years and seven months. Mr. John Vulupindi replaced Mr. Tarata as the Governor and served as a Governor for only four (months) in 1998 before being replaced by Mr. Morea Vele. The year 1999 saw a career central banker and the current incumbent Mr. Leonard Wilson Kamit take over the reigns from Mr. Morea Vele. The Bank over a very short period of time went through a lot of changes with the in its governorship . The Bank of Papua New Guinea will continue to adjust and change to be on par as the other Central Banks and the financial community world wide to provide up to date services to the people of Papua New Guinea.
Address: ToRobert Haus, Corner of Douglas Street, Section 25 Allotment 1, Port Moresby, P.O. Box 121, Postcode 111, Phone: 675 322 7200 Fax: 675 321 1617
