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,
Politics of Papua New Guinea Papua New Guinea", is represented in Papua New Guinea by a governor general who acts on the advice of the prime minister and the cabinet. The Governor-General of Papua New Guinea is elected by parliament. The governments of Papua New Guinea are characterized by weak political parties and highly unstable parliamentary coalitions. The prime minister, elected by Parliament, chooses the other members of the cabinet. Each ministry is headed by a cabinet member, who is assisted by a permanent secretary, a career public servant, who directs the staff of the ministry. The cabinet consists members, including the Prime Minister and