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PNG SHOULD BRACE FOR A LOOMING FINANCIAL CRISES - MORAUTA

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by SIR MEKERE MORAUTA   Papua New Guinea needs to take urgent action to save itself from a looming economic and financial storm, former Prime Minister Sir Mekere Morauta said today. Sir Mekere, an economist and former head of Treasury, the Bank of Papua New Guinea and other institutions, said the nation cannot continue on its present course. “The Prime Minister has had plenty of warning from his own expert advisers in Treasury and from eminent foreign institutions and observers,” Sir Mekere said. “Good senior people in Treasury have been side-lined or sacked, or shipped out if a foreigner. Anyone who raises concerns suffers personal attack from the Prime Minister. “Or, as with the peaceful protestors who gathered at Unagi Oval on 26 October, being set upon and bashed up by the Police, no doubt on orders from above. “He has ignored all advice, and now the nation is suffering the consequences.” The latest warnings come from the international ratings agency Standard & Poor’s (S

PNG ON THE BRINK OF GREEK TYPE ECONOMIC COLLAPSE

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INSIDE INFORMATION By Carl of BPNG and Pat of Treasury Department Peter O’Neill, Patrick Pruaitch, James Marape, and Loi Bakani have not told Papua New Guineans the real causes of our economic crises and the effects that should be expected.   PNG’s economic crisis is far worse than what it appears and we are dumbfounded by the silence of the people in the know. Learned Papua New Guineans continue to zip their mouths and eyes whilst Prime Minister Peter O’Neill continue to peddle his lies across our simple minds. Two of us have compiled this report together for the love of our country. Most of these information are already available to the public. We hope that all equally concerned Papua New Guineans will be enlightened by this article, for an enlightened citizenry never remain silent. We have four interconnected yet separate problems on hand at the moment: Government Coffers without Money Bank of Papua New Guinea without Sufficient Foreign Reserves (Forex)

THE NUMBERS DONT LIE PETER O'NIELL

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by JACK KUMAN Prime Minister Peter O’Neill is telling us that the economy and government finances are in good condition. But the official numbers from Treasury and the Bank of Papua New Guinea tell a different story. They tell us that Papua New Guinea is rushing towards an economic and financial disaster. The numbers do not lie, unlike the Prime Minister. Since he grabbed power in mid-2011, the economy and government finances have got worse and worse until today the Government is virtually bankrupt. Now the Prime Minister and his partners in crime have resorted to stealing from State-Owned Enterprises to try to prevent a complete financial crash. They have demanded hundreds of millions of kina, including from LNG landowners’ funds held in NPCP and reserve and operating cash from National Fisheries Authority and MVIL. This is in addition to the hundreds of millions of kina already drained from SOEs last year and earlier this year in fake “dividends”. O’Neill’s corru