PNGBLOGS

by  Therow Zuaru ▪️ IMF Structural Adjustment Politics The global economic and financial system is a system of lies, deception and predation on a large scale. The World Bank, IMF keep the public in a position of indentured servitude, through perpetual debt, inflation and interest. The basic scam is simple: Put a country in debt either by its own indiscretion - or through corrupting the leader of that country - than impose "conditionalities" or "structural adjustment policies" often consisting of the following: • Currency devaluation - when the value of a currency drops, so does everything valued in it. This makes indegenious resources available to preditor countries at a fraction of their worth. • Cut social programs - large funding cuts for social programs. This usually include education and healthcare - compromising the wellbeing and the integrity of the society - leaving the public vulnerable to exploitation. • Privatization - privatization of stat

by SAM BASIL MP  Deputy Opposition Leader As Deputy Opposition Leader (DOL), I have continuously criticised the mismanagement of the economy by the O’Neill government and their continuous lies that the economy will recover back to pre-2012, when PNG was in a surplus budget. My predictions on the negative high spending and reliance on oil and gas prices, from as far back as 36 months ago when the 2013 Budget was handed down, is now very real; the citizens of Papua New Guinea (PNG) don’t have to look far on the basic figureswhen they’re experiencing: i) The high costs of goods and services acknowledging the high inflation rate that I predicted which current figures don’t acknowledge, and ii) The rapid devaluation of our exchange rate reflecting a slowdown in the economy because- a. The exporters aren’t getting the revenue they used to get, as well as b. The importers awaiting their products to reach our shores because there is a lack of foreign reserves available, to pay o

by NRI INSIDER There was always something a little strange about the collapsing kin. First we were told by Peter O'Neill and his corrupt cronies Marape and Pruaitch that the kina wasn't going down or that the slide was only temporary. But as we saw days of kina sliding turned into weeks and weeks turned into months, that lie no longer worked. Today we have a clear graphical record of a slide in the kina that began nearly from the moment that Peter O'Neill was re-elected and took office again and has continued up to now. The Masters of Deception now admit this is the case but say that they've got everything under control. Most certainly not. If you look at the rate at which the kina has been declining against the US dollar in recent weeks you can see that the slide started becoming steeper than it was before. The Masters of Deception can lie all they want but the bare facts don't lie. An outright collapse of the kina to God knows what low levels is being pre