Two Days Bring Two New Government Lies That Neither PNG Toiletpaper Daily Bothers To Investigate

It is small wonder that the UPNG students burnt stacks of the toiletpaper dailies AKA The National and the Post Courier.   Both of them fail miserably at objective reporting or achieving any kind of balance in giving both sides of the story.  They’re both content with recycling government verbal diarrhea into certified Post Courier or National pekpek, without  checking out the accuracy of anything they’re asked to run.  
IFC Loan Approved For PNG.   Or Was It?  
The Post Courier led the way in unprofessionalism on 2 May with the following story:
This news comes from the Bank of PNG which we all have come to see is in collusion with Peter O’Neill.  Mind you, no nation’s central bank should ever come under political pressure, because this erodes confidence in a central bank to do what’s best for the economy, no matter what the political fallout.  Unfortunately, the big picture of making decisions usually seems to escape our leaders and top level bureaucrats these days, after they’ve shared a few Friday night beers, followed by some high priced feminine company.
At least the Post Courier didn’t report the story wrongly.   It is quite clear that Loi Bakani said what is reported.   Where the PC failed was in not pursuing the story or investigating whether what Mr Bakani said was actually true.  
All one needs to do to perform better as a journalist than Rosalyn Albanial is to type IFC loan Papua New Guinea into a search engine.   You quickly come up not only with the IFC website, but the web page that gives the current status of the loan request.  Here it is:
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NGLQF BSP
Summary of Investment Information

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein that has been prepared by the project sponsor, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein.
The SII is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors.


Project number
38243
Region
East Asia and the Pacific
Company name
BANK OF SOUTH PACIFIC LIMITED
Country

Papua New Guinea
http://ifcextapps.ifc.org/icons/ecblank.gif

Sector
O-AA - Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental category
FI2
Status
Promotion


Date SPI disclosed
April 15, 2016
Projected board date
May 16, 2016
Last Updated Date
April 17, 2016
http://ifcextapps.ifc.org/icons/ecblank.gif
http://ifcextapps.ifc.org/icons/ecblank.gif



  Overview  
  Sponsor/Cost/

Location  
  Development

Result  
  E&S Category

Rationale/Risks

and Mitigation  
  Contacts  
  Supporting

IDocumentation  

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Project Description
The project is to provide a loan facility for an amount of up to US$100 million to Bank of South Pacific Limited (“BSP” or the “Bank”) to facilitate the Bank’s mid-size corporates and SME private sector customers’ international trade finance transactions.


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The PNG loan won’t even be considered for another week!   No approval has been granted looking at what is on the IFC website.   It appears that Loi Bakani is playing political games to give support to the failing government.   For shame.

Peter O’Neill Vindicated By Court Decision on UBS Challenge By Polye.   Or Was He?  
The next day (3 May), both newspapers ran with the story of the Supreme Court’s dismissal of Don Polye’s application that challenged the constitutionality of the UBS loan.  The National came out with this story:   
Peter O’Neill was delighted with the court ruling but noted “This was a sound decision, made with full legal consultation, and should never been the subject of such malicious litigation”.  
But wait!   Is that why the Supreme Court reached their decision on the challenge to the UBS loan?   Not quite.   One the same page as the above article appears Polye’s assessment of the court ruling, which in fact is the accurate one:
Looks like the pekpek lands square on the face of the Prime Minister!    The case was only dismissed because Polye’s lawyer, Loani Henao, didn’t make it to court on time.   The Supreme Court didn’t at all consider the merits of the case as O’Neill had stated, hoping he could fool the PNG public and get away with Lie #49292 (counting began when he first took office in 2011).    The National was too cowardly to write an article that confronted the discrepancy.   The easy way out was to run the 2 articles so that Peter O’Neill wouldn’t berate them for running news that made him look bad.   
We’re Only Laughing Because It Hurts Too Much To Cry
Sadly this government has become a clown show in all dimensions, going from bad to worse in its desperate lies.  Peter O’Neill lies even when anyone with basic investigative skills can find out what the real truth is.    But his lying is obviously contagious and now we find that the Bank of PNG Governor has caught the lying disease too.     

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