Official repeats old call

 By GABRIEL LAHOC

Deputy Governor of Bank of Papua New Guinea Benny Popoitai has repeated his call on the Education Department to include financial literacy into the curriculum used by education system in PNG.

He said financial literacy would help improve on lack of understanding by ordinary citizens on finance and banking.

Popoitai said BPNG has been in discussion with the Education Department for a financial literacy curriculum in the public school system. While officiating of a graduation ceremony of 13 financial education trainers of Bank of South Pacific in Lae last Friday, Popoitai said: “We have been talking and talking and talking with the Department of Education to roll out financial education in the school curriculums in schools so that our children when they come out they are financially literate.

“You try to go now and ask a child who is in school today, what he knows about interest rate, he does not know. So we need to teach our kids about business, interest rates, deposits, lending, budget investment, these things they put meaning to and empower our children in school so when they come out they are at least knowledgeable about this.”

The Microfinance Expansion project aims to enhance financial inclusion and improve the current statistics that 85 per cent of Papua New Guineans do not access financial services.