PETER O'NEILL PERSONALLY AND UNILATERALLY DIRECTED PNG TO BORROW USD$1.2 BILLION
by DR PATRICK ONGUGLO The stitched up act in Parliament last week all a lie... Peter O'Neill used his position as PM to put PNG into more debt, read how O'Neill drummed up this idea back in 2014. Prime Minister Peter O’Neill (‘aka O’Steal) has personally and unilaterally directed that the State of PNG borrow US$1.2 Billion Dollars through international financiers syndicated by the Swiss UBS Bank, to buy 10% of Oil Search Limited (OSL) shares. It is believed this transaction is motivated by personal gain. Therefore, this loan is believed to be for a corrupt outcome. This corruption is perpetrated by UBS and other international banks lending the money. PNG does not need the loan. It is Peter ONeill who needs the loan for his own corrupt gain. He is using the country’s assets to obtain a personal benefit. This must be made very clear to the international lenders. On this basis, no future PNG Government will be liable to repay the funds, lent for an illegal purpose. As o