Papua New Guinea: this time it’s real

The island state is yet again planning to make its debut in the dollar bond market. Its chances now are better than ever.

Papua New Guinea deserves credit for its dogged determination.

The country has been flirting with a dollar bond since 1999, but after two serious attempts and plenty of watching and waiting it has still not managed to make its debut in the market.

That is something finance officials in Papua New Guinea plan to change this year. The country is now eyeing $500 million of fund-raising from the bond market, finance minister Loi Martin Bakani said at Credit Suisse’s Asian Investment Conference in March.

That would complete an impressive double. Papua New Guinea turned to the international loan market for the first time last...

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