Appointment of Governor of the Bank of Papua New Guinea

The National Executive Council appointed Mr. Martin Loi Bakani as the new Governor of the Bank of Papua New Guinea for a term of 7 years‚ effective 9th December 2009

Loi Martin Bakani

Qualifications and Management Positions:

Mr. Loi Martin Bakani holds a Honors Masters Degree in Economics from the‚ University of Wollongong, Australia, which he obtained in 1994. Mr. Bakani also holds a Bachelor of Economics Degree from the University of Papua New Guinea and graduated in 1984.

Mr. Bakani holds the following positions within the Bank of Papua New Guinea management structure

Member of the Bank Board
Member of the Board Audit Committee (until appointment as Governor)
Chairman of the Investment Committee
Chairman of the Money Markets Operations Committee
Deputy Chairman of Monetary Policy Committee
Deputy Chairman of Executive Committee
Chairman of the PNG-ADB Microfinance and Employment Project

Career History with the Bank of Papua New Guinea:

Mr. Bakani is a career central banker who joined the Bank of Papua New Guinea as a Research Officer in the Monetary and Banking Division of the Economics Department in 1985 and has worked in all areas of the Department. He was appointed the Head of Economics Department in 1998 and became the Chief Economic Advisor for the Bank. He held this position till February 2005 when he was appointed the Deputy Governor – Policy and Regulations for a 5 year term and was responsible for the following Departments:

Economics
Financial Markets
Research
Financial System Supervision

In October 2008, a restructure of Senior Management positions was implemented and Mr. Bakani was appointed Deputy Governor – Policy, covering Policy Departments which include:

Economics Department
Financial Markets Department
Research Department

Over the past 25 years, Mr. Bakani was involved in a wide-range of Central Bank development activities. He represented the Bank of Papua New Guinea in various external committees and participated in numerous international conferences and meetings with international Financial Institutions and Agencies such as World Bank, IMF, ADB, Bank for International Settlement (BIS), overseas central banks and organizations like APEC, SEACEN, SEANZA, and others.

Mr. Bakani has diverse experience and skills in central banking and fiscal operations of the Government attained through his employment with the Bank of Papua New Guinea. He is well versed with the finance and banking sector and business operations in PNG, and has established wide range of contacts with personnel in Government and private sector in PNG and overseas.

Professional Affiliations:

Member of:

Papua New Guinea Institute of Directors
Australian Economic Society
Papua New Guinea Economic Society
UPNG Alumni Association
PNG-Australia Alumni Association

Personal:

Mr. Loi M. Bakani was born on 12 August 1963 and comes from Kulungi village, Talasea, in West New Britain Province. He is married with 3 children and 1 grandchild.

Mr. Bakani is a keen Australian Rules football player and is the current President of Dockers Aussie Rules Club in Port Moresby. He also enjoys watching rugby, sight seeing, traveling and meeting new people.
Appointment of Governor of the Bank of Papua New Guinea