PNGBLOGS

by PAUL FLANAGAN PNG’s government must be embarrassed by the International Monetary Fund’s (IMF) assessment of its economic performance. In an extraordinary step, and the first time in PNG’s 41 year history of Independence, the PNG government has refused to release the IMF’s 2016 summary of the PNG economy. 98% of countries agreed to release this information in 2015 – so the PNG government has moved to the bottom 2% of governments when it comes to economic transparency. In the IMF’s final press release (see here) before Christmas (generally seen as a good time to bury bad news), the International Monetary Fund indicated that “The [PNG] authorities need more time to consider the publication of the staff report and the related press release.” This appears to be polite IMF diplomatic speak for the PNG government not wanting to release the information. The IMF mission visited in mid-2016. An early draft asking for PNG government comments would have been provided about two months ago

by MICHAEL JOSEPH PASSINGAN No believes what comes out of Prime Minister Peter O’Neill’s mouth any more. New research has discovered that everything he said on the National Public Debt crisis of Papua New Guinea are all lies. It can be easily demonstrated that the national debt is much higher than the false numbers given by PM O’Neill. That brings bad news for the struggling people of Papua New Guinea, like Public Servants who are not being paid because the nation is bankrupt. Spending on essential services such as health, education, law and order, and transport will have to be cut even more. Mr O’Neill and his conmen are still getting fat on all the money they have stolen and sent to Australia, but the quality of life for the all other citizens is falling faster and faster. HERE IS WHAT IS REALLY HAPPENING For 2015 the annual repayment of official debt of K17.8 billion was K1.5 billion, it says in the O’Neill regime’s own Budget papers. Grade 10 arithmetic tel