Uniform exchange controls apply to dealings with all countries, other than Iraq and Yugoslavia (Serbia and

Monte Negro). PNG adheres to Article VIII of the International Monetary Fund (IMF) and accordingly, does not impose restrictions on verifiable current account transactions.

The exchange controls were (partially) liberalised in 1992 by eliminating the remittance limits on some of the foreign exchange transactions and setting much higher annual remittance approval limits for licensed foreign exchange dealers (the Authorised Dealers), while controls on certain types of foreign exchange transactions (including the licensing of foreign exchange dealers and gold exporters) were retained by the Central Bank. On 1 June 2005, the Central Bank liberalized the bulk of the exchange controls. The following summarise the exchange controls in operation in PNG, since June 1, 2005.

Detailed information and guidance can be obtained by contacting the Central Bank at the website address www.bankpng.gov.pg or by contacting authorised commercial banks.

Uniform exchange controls apply to dealings with all countries, other than Iraq and Yugoslavia (Serbia and Monte Negro). PNG adheres to Article VIII of the International Monetary Fund (IMF) and accordingly, does not impose restrictions on verifiable current account transactions.

The exchange controls were (partially) liberalised in 1992 by eliminating the remittance limits on some of the foreign exchange transactions and setting much higher annual remittance approval limits for licensed foreign exchange dealers (the Authorised Dealers), while controls on certain types of foreign exchange transactions (including the licensing of foreign exchange dealers and gold exporters) were retained by the Central Bank. On 1 June 2005, the Central Bank liberalized the bulk of the exchange controls. The following summarise the exchange controls in operation in PNG, since June 1, 2005.

Detailed information and guidance can be obtained by contacting the Central Bank at the website address www.bankpng.gov.pg or by contacting authorised commercial banks.