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Showing posts with the label Morauta

SLIPPERY SLOPE, PNG EFFECTIVELY PRINTING MONEY TO FUND DEFICIT BUDGET - HYPERINFLATION ANYONE?

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by PAUL FLANAGAN

In an article for the ANU’s Development Policy Centre eighteen months ago (see here), I congratulated PNG’s central bank (BPNG) for its very constructive stance in stopping its effective printing of money to fund the government’s budget deficit. I noted how this reflected positively on the independence of BPNG, an independence built into its charter by Sir Mekere Morauta (PNG’s former Prime Minister) and Sir Wilson Kamit (PNG’s central bank governor from 1999 to 2009) in response to PNG’s last major economic crisis in the late 1990s.

Unfortunately, this independent role appears to have been reversed from the start of this year. Based on the latest Quarterly Economic Bulletin released on 18 November 2016 and its accompanying tables (esp Table 2-3 for BPNG’s assets sheet see here) PNG appears to have returned to a very slippery slope of effectively printing money by back-stopping auctions in government securities – a practice initially warned about in September 2014 (see

SYMBOLIC SLEEZEBAG OF THE CORRUPT PETER O'NEILL REGIME - RIMBINK PATO OF WAPENAMANDA

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by SAMSON LENKI WALO

The recently published photo of "The Duck" at Jackson's airport, in all his glorious obesity, doing some kind of deal on his mobile phone, may go down in history as a classic, symbolic picture of what Peter O'Neill's government has come to be known for: corruption sleeze and greed.
It's not just The Duck's image of uncontrollable gluttony. Examine his history and you will discover that even the harshest interpretations of what that big fat belly represents behind the scenes are no exaggeration.
The story of Rimbink Pato is a story that covers more than 20 years. It intertwines in an intriguing way with other notables, including Paul Paraka and former MP Peter Yama of Madang.

INTRIGUING INTERRELATED TECHNIQUES OF PATO, YAMA AND PARAKA

Let's start with the basics. Rimbink Pato is a lawyer. Not a particularly good lawyer, but one who was determined to get rich.
The way Pato got rich, and the way Madang …

O’NEILL AND BAKI’S SECRET CONSPIRACY LEAKED

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by MICHAEL JOSEPH PASSINGAN

The recent and continuing actions by Police Commissioner Gari Baki have got deeper intentions than what appears to the public. Gari Baki is part of, and executing a conspiracy to completely set Peter O’Neill free from all corruption charges relating to the Paul Paraka Lawyers payments, LR Group-PNG Power Generators Deal, K3 Billion UBS Oil Search Deal etc and many other complaints of frauds that is currently investigated by the National Fraud And Anti-Corruption Directorate.

If you have been watching closely, Peter O’Neill is running out of defences. He knows that you don’t have to benefit financially from the fraud to be guilty of the crime (Paul Tiensten being the example). He latest lowest point was when he said words “mi paulim meri blong ol na ol laik karabusim mi oh”, a reflection of a primitive mentality of Wiru Pangia.

Peter O’Neill’s popularity is evaporating very fast. Prominent citizens including the two former Prime Ministers, Sir Mekere and S…

IMPLICATIONS OF THE Sovereign Community Infrastructure Treasury Bills (SCITB)

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