Governor launches Bank 40th Anniversary Commemorative Stamps release
Bank of Papua New Guinea (BPNG) has recently celebrated 40 years of service to the people of Papua New Guinea.
In commemorating the event Governor Loi M. Bakani launched stamps release imprinted by Post PNG Limited to place on record those former Governors who have contributed to the growth of BPNG
The former Governors were Sir Henry To Robert who served from 1973 – 1993. He is the longest serving Governor in the Commonwealth of Nations. In his tenure the Kina & Toea was introduced in 1975.
The next Governor was Sir Mekere Morauta who served from 1993 – 1994. He was the first secretary of Finance when Papua New Guinea gained political independence from Australia in 1975. He was also a former Prime Minister of PNG and is the architect of financial sector reforms in Papua New Guinea.
After Sir Mekere the late Koiari Tarata served as the third Governor from 1994 – 1998. During his term the currency Kina & Toea was changed from the fixed exchange rate regime to a floating one with support from IMF and other donor partners.
The late John Vulupindi became the fourth governor and served a short term from April 1998 – July 1998. He left earlier because of political instability at that time. After his term as Governor of BPNG he entered politics.
The fifth Governor of BPNG was the late Morea Vele who served from 29 July 1998 – 5 August 1999. Prior to becoming Governor he served in PNG foreign missions.
Sir Wilson Kamit became the sixth Governor of BPNG. He served from 1999 – Dec 2009. He is a career central banker who oversaw the financial sector reforms together with Sir Mekere Morauta as Prime Minister at that time.
The stamp releases are now available at all Post Office outlets throughout the country. Those who would like to send letters can now use the stamps at any Post Office outlets.
Kina exchange rate (MIDRATE)