Forex shortage worries company

 THE reported shortage of foreign exchange (Forex) has prohibited the ability to finance the importation of equipment for some business in the country, a finance company says.

Resources and Investment Finance managing director Brett Andrew said the shortage in Forex had affected their ability to finance the importation of equipment for clients.

“This has been an ongoing issue since mid-2015,” Andrew said. 

“Our clients are affected due to their inability to obtain foreign currency to pay overseas suppliers for stock.  This restricts trading in PNG and therefore cash-flow to make payments on loans secured through Resources and Investment Finance.”