Wednesday, July 31, 2013

Papua New Guinea looks to entrepreneurs to escape ‘resource curse

Financial Times: In Port Moresby’s heavily fortified Royal Papua Yacht Club, all the talk is of the coming slowdown as the construction of a $19bn ExxonMobil liquefied natural gas project nears completion.
The luxury waterfront apartments that flank the recently extended marina are mostly occupied by expatriates working on the development, which has propelled annual gross domestic product growth to 8 per cent over the past five years but also driven property and food prices to painfully high levels...

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