Papua New Guinea Papua New Guinea Papua New Guinea (PNG; , ; ; ), officially the Independent State of Papua New Guinea, is an Oceanian country that occupies the eastern half of the island of New Guinea and its offshore islands in Melanesia, a region of the southwestern Pacific Ocean north of Australia. Its capital, located along its southeastern coast, is Port Moresby. The western half of New Guinea forms the Indonesian provinces of Papua and West Papua. At the national level, after being ruled by three external powers since 1884, Papua New Guinea established its sovereignty in 1975. This followed nearly 60
Bank of Papua New Guinea the unusual step of placing an advertisement in a newspaper, explaining that Carruthers had been fired as a result of misappropriation of money belonging to the bank. Carruthers was also director of Transparency International in PNG. Bank of Papua New Guinea The Bank of Papua New Guinea is the central bank of Papua New Guinea. Its main function is to issue currency and to act as the banker and financial agent to the Government. It is also in charge of regulating banking and other financial services and manages the gold, foreign exchange and any other international reserves of Papua New