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.