Papua New Guinea, hurt by commodities drop, on brink of Greek-style crisis

By John Garnaut
Updated August 6 2015 - 1:18am, first published 12:25am
Prime Minister of Papua New Guinea, Peter O'Neill  Photo: Joosep Martinson
Prime Minister of Papua New Guinea, Peter O'Neill Photo: Joosep Martinson
The commodities price downturn, worsened by poor oversight of the nation's mining industry, has been brutal to Papua New Guinea's budget.  Photo: Jon Reid JHR
The commodities price downturn, worsened by poor oversight of the nation's mining industry, has been brutal to Papua New Guinea's budget. Photo: Jon Reid JHR

Australia's nearest neighbour could be on the brink of a Greek-style fiscal crisis following one of the most spectacular budget blow-outs in regional history.

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