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BRIEF-Moody's says Papua New Guinea's liquidity pressures drive credit risks
June 1, 2017 / 4:39 AM / 6 months ago

BRIEF-Moody's says Papua New Guinea's liquidity pressures drive credit risks

June 1 (Reuters) -

* Moody‘s- Papua New Guinea’s liquidity pressures drive credit risks

* Moody’s on Papua New Guinea- Demands on foreign-exchange reserves are high as PNG is still clearing a backlog of imports and foreign debt payments

* Moody’s Papua New Guinea- Large current-account surpluses of around 18% of gdp since 2014 overstate the actual increase in foreign-exchange inflows

* Moody‘s-Papua New Guinea continues to face significant government liquidity,external payments risks, despite recent recovery in commodity prices, exports

* Moody’s on Papua New Guinea- Assesses domestic political risk as “moderate”

* Moody’s Papua New Guinea- Forecasts real GDP growth of about 3% in coming years, a sharp drop from average annual GDP growth of 6.4% between 2010-2014

* Moody’s Papua New Guinea- Fiscal tightening, high inflation and a shortage of foreign currency will weigh on economic growth in 2017 and 2018 Source text for Eikon:

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