2017 Summer Travel Grant Series: Internship with the Bank of PNG

Summer Travel Grant 2017 Recipient

Ludwig Aba

USSP

 

I started my internship at the Bank of Papua New Guinea (PNG) from June 19 – July 28 2017. The commitment hours were five hours per working day for thirty days, that amounted to 150 hours. During this time, I was engaged with the Financial Markets Department of the Bank of PNG, specifically at the Office of Open Market Operations that implements Monetary Policy of the Bank. This office conducts weekly auction of PNG National Government’s Treasury bills and Inscribed stocks. The Bank also auction its own central bank bill to influence liquidity and interest rates. Aside from the formal auction of Treasury bills and Inscribed stocks, the Bank of PNG sells bonds and bills at the Tap, which is over the counter transactions.

I was operating directly in the office of the manager of Open Market Operations, in which I was assigned to do the following: (1) respond to investors queries on interest rates and investment in Treasury Bills and Inscribed Stock, (2)compile statistical data on financial market products, (3) perform quality checks on the financial market data, especially treasury bills, inscribed stock and tap trading, and (4) promote Investment opportunities in Treasury bills and Inscribed Stock.

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Ludwig Aba with officers of the Financial Markets Department

Aside from my internship, I also used this opportunity to connect with other State Institutions in order to collect data for my Capstone research. These organizations included the Institute of National Affairs, National Research Institute, Bank of PNG and Coffee Industry Cooperation. The data that I collected will enable me to complete my MA Capstone research project at UH.

I thank the EWCA for the Travel Grant which helped to pay for my airfare. This has enabled me to reconnect with my employer for future engagement and most importantly, to collect the required data for my MA Capstone research.

 

 

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