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THE ILLEGAL UBS LOAN MATURES ON 13 JUNE 2016

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THE LNG LANDOWNERS OPPORTUNITY TO BUY 4.22 % EQUITY FROM THE STATE ENDS ON 30 JUNE 2016; WILL PETER O’NEILL FIND THE MONEY TO MEET THE OBLIGATIONS? by ANDRE BILAK STEVEN PNG is already having a serious cash flow problem, and nothing can be more evidenced than the Minister for Finance James Marape’s statement few weeks ago that all MPs (who supposed to receive K15m DSIP funds) will receive K1 million each for this year. The cash flow crisis is affecting business houses, government departments and households like never before. The Bank of Papua New Guinea has about less than US$1.4 billion in reserves against pending foreign exchange orders of around K4 billion plus and the situation is not improving any sooner. The endless cue for sending funds overseas is unbearable and killing many import reliant businesses in this import-reliant economy. Many learned experts in economic management have advised O’Neill, since early signs of doom emerged, to take remedial actions immedia