PNG Strengthens Push to Exit Grey List with US Support

Efforts to remove Papua New Guinea from the global financial “grey list” received a boost this month following a visit by a delegation from the United States Treasury Department. The team travelled to Port Moresby to assess areas where technical support could assist ongoing reforms.

Key meetings were held with senior government officials, including Treasurer Ian Ling-Stuckey and Police Minister Sir John Pundari, where discussions focused on strengthening compliance systems and addressing financial risks.

 PNG Strengthens Push to Exit Grey List with US Support

Over the course of five days, from March 9 to 13, the delegation met with multiple government bodies responsible for financial regulation and enforcement. Among them were the Bank of PNG, its Financial Analysis and Supervision Unit, the Office of the Public Prosecutor, PNG Customs, the PNG Forest Authority, the Internal Revenue Commission, and the Independent Commission Against Corruption.

The sessions explored practical measures to enhance transparency, tighten regulatory controls, and improve coordination between agencies tasked with monitoring financial activities.

The visit concluded with a joint roundtable, where agencies discussed ways to align efforts and build stronger partnerships in the fight against money laundering and other financial crimes.

Both Treasurer Ling-Stuckey and Minister Pundari expressed confidence in the collaboration, noting that international expertise would play a vital role in supporting PNG’s reform agenda.

Sir John Pundari highlighted the importance of policing efforts in safeguarding the country’s financial systems, emphasizing that law enforcement agencies must remain at the forefront of these initiatives.