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Showing posts with the label JP MORGAN

O'NEILL GOVERNMENT PASSED THE 2016 BUDGET WITH MADE UP OR FALSE FIGURES, INACCURATE AND MANIPULATED DATA AND STATISTICS

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by GOVERNMENT INSIDER In a meeting with some World Bank people and some former Ausaid Consultants to PNG, this is what they had to say about PNG parliamentarians and the current government's management of the economy. They say, 99% of our parliamentarians are economically and financial illiterate. For example; They do not have any idea about the UBS Loan or the LR Generator deal, or even the importance of the 2016 budget document, as such no one is capable of debating the nitty gritty ties of such enormous financial transactions and legislations provocatively.  They even don't care about the economic implications befalling from such decisions. Therefore PNG Parlaiment under the current regime lacks good governance. What a shame? The other thing, they said there is no prudential Management of the PNG economy by the Peter O'Neill government, they said the current government manipulated fundamental data and statistics on the real GDP, a sign shown by the 2015 budget outcom

PNG LIKELY TO BE DECLARED BANKRUPT IN JUNE 2016

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PNGBLOGS EXCLUSIVE PNG IS GONE AS A SOVEREIGN NATION IN JUNE IF NOTHING IS DONE TO REVERSE THE LOAN TAKEN BY O'NEILL GOVERNMENT TO BUY OSL SHARES. If the PNG Government does not find USD 1.5 Billion by 13th June, 2016, UBS will ask the government to Appoint a Receiver Manager for the Oil Search shares, the Receiver Manager will manager the Escrow account in Singapore. by June UBS will declare PNG bankrupt. This frightening revelation was revealed to PNGBLOGS by Government Insider working with the Department of Prime Minister and NEC who has sighted the original deed. The Principal Maturity date for the UBS loan was 13th March 2016.The Papua New Guinea Government has now K3.2 billion to pay UBS. We are in the grace period but that ends on the 13th June, 2016. Peter O'Neil signed with JP Morgan for refinancing turnaround time two weeks has lapsed. The World Bank, IMF, ADB and AusAid have already started painting bad picture about Peter O'Neil. He is an economi