Bank of Papua New Guinea 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 Guinea. Mr Loi Martin Bakani is the current governor of the bank. Banking came to Papua in 1910 with the establishment of a branch of the Bank of New South Wales in Port Moresby. In 1916,
Australia–Papua New Guinea relations Australia–Papua New Guinea relations Australia–Papua New Guinea relations are the foreign relations between Australia and Papua New Guinea. Papua New Guinea is Australia's closest neighbour (with roughly 6 km separating the two countries at the nearest point, and with both nations sharing the same continent), and a former dependent territory of Australia. Papua New Guinea has developed much closer relations with Australia than with Indonesia, the only country with which it shares a land border. The two countries are Commonwealth realms, and Papua New Guinea benefits from economic development aid from Australia. The southern half of eastern New Guinea (the