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PNG urged to devalue kina to solve foreign exchange concerns

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PNG Kina Moni
Devaluation would mean reducing the value of the kina, but could help free up foreign exchange to support business.

Papua New Guinea's government is being urged to devalue its currency and lift restrictions on foreign exchange reserves.

Otherwise, economists says consumers will face an increase in the price of goods and services, which will have a major impact on families.

The warning comes  after two large PNG businesses threaten to close down. 

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Papua New Guinea, Pacific, Economy, Foreign Affairs, Business Enterprises