PNGBLOGS

by LEKEM LAKI The Deputy Chief Justice his Honour Gibs Salika rightly said in the national paper dated 14th March 2016 titled “Graft a disease” and he referred to the level of corruption rampant in the country cutting across every sector of PNG society. In that he meant to say, corruption isn’t “growing but is overgrown”. The concern raised is alarming in nature but it doesn’t become a cause of concern or raises goose bumps. The corruption is entrenched and deeply embedded in every stratum of government bureaucracy and agencies. The practice is normalised and given the longevity in continued practice, it has become a norm or second nature if you like to people who practice. With the proliferation of corruption, people aren’t remorseful or let alone raise goose bumps. The Department of Justice and Attorney General Secretary Dr. Lawrence Kalinoe refused Damarua’s request to engage private law firm. Damarua and the entire Fraud Squad team aren’t fighting tooth an

by DIANNE RUT Peter O'Neill's long-running legal battles were merely to protect himself. He managed to corrupt the independent institutions like Police and Ombudsman Commisson to protect him. He is spending millions of kina in legal fees legitimised by his corrupt Attorney General Ano Pala. He has cannibalised all the small parties including coalition members.  He has used the DSIP funds as a tool to force MPs to migrate to the Government, leaving the opposition weak numerically. Penetrating the Protected -Judiciary We have witnessed his unrestraint behaviour in exploiting and testing the limits of the Court process, ably assisted by legal predators. It is open secret that a few judges have been compromised in the process and stood up for him.  New Developments O'Neill has manipulated his corrupt government to introduce a bill without notice in Parliament today (23/3/16) to introduce a High Court. The Bill was never in the notice paper, nor was the idea of

by MOODYS CREDIT RATING Moody's places PNG's B1 government ratings on review for downgrade Global Credit Research - 25 Feb 2016 Moody's Investors Service ("Moody's") has placed the Government of Papua New Guinea's ("PNG") B1 local currency and foreign currency issuer ratings on review for downgrade. The review for downgrade is driven by: 1. The impact of the further fall in oil prices on government revenue, fiscal deficits and rising debt; and 2. A likely structural shift to lower economic growth given the increasingly uncertain outlook for commodity-related investments. RATINGS RATIONALE RATIONALE FOR THE REVIEW FOR DOWNGRADE FIRST DRIVER - DETERIORATING FISCAL AND DEBT METRICS Lower oil prices and weather-related disruption to gold production led to weaker-than-expected revenue in 2015, and we expect pressures on revenue to continue through 2016. Although expenditure cuts in 2016 have been announced in respons

PHOTO CREDIT: SCOTT WAIDE by JENNY HAYWARD-JONES n 2015 Papua New Guinea celebrated 40 years of independence. The anniversary stimulated a great deal of public reflection on the nation’s progress to date and its future. For Papua New Guineans, there are reasons to be both optimistic and pessimistic about the next 40 years. Papua New Guinea’s population of 7.5 million is young and growing. The country has experienced more than a decade of sustained economic growth. Its population is now better connected through an extensive mobile telecommunications network. A vast social safety net created by cultural obligations within communities ensures that everyone has food and housing. A growing middle class has produced a number of talented emerging leaders who will be a force for change in the country. But equally, Papua New Guinea faces some serious challenges. In the last 40 years, progress in raising the living standards of the majority of the population has been extremely

by MICHAEL JOSEPH PASSINGAN The foreign banking system is bringing more bad news for Papua New Guineans suffering under the corruption, waste and reckless financial and economic management of the O’Neill Regime. The International Monetary Fund, an arm of the World Bank, is lending almost K1 billion so commercial banks – BSP plus the two main foreign-owned banks ANZ and Westpac – can prop up the bankrupt government of Peter O’Neill. The fact that the IMF is a lender of last resort to failed economies illustrates exactly how bad the nation’s economic and financial problems are. The fact that the O’Neill Regime and the Bank of Papua New Guinea are keeping this loan secret adds to the fears that is a very bad deal for Papua New Guinea. The K1 billion, to be managed by the central bank, will allow the commercial banks to continue to buy government investments such as Treasury Bills, Inscribed Stock and Central Bank Bills, and possibly lend more money to State-Owned Enterprises.