Author: admin2

“A respected business friend of mine was excellent at keeping people’s feet on the ground. If businesses started becoming wildly optimistic about increased sales or lower costs, he’d look at them and say “Mate, you’re hallucinating”. Tough advice, but good advice from a real friend. Unfortunately, in reviewing recent statements from the Treasurer,  I am […]

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“The international credit ratings agency Moody’s is concerned about economic mismanagement in PNG and has put its credit rating on “negative watch”. This is only the fourth time in the last two decades that PNG has been put on this negative watch, meaning there is an increased chance of a credit ratings downgrade. PNG’s credit […]

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“The big picture outcome numbers for the 2017 Budget look too good to be true – and they are. The Final Budget Outcome (FBO) released by the PNG Treasury on 14 March- the 83 page detailed document after a premature speech by the Treasurer last month – raises massive questions about credibility and trust. There […]

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“In an extraordinary outburst on 22 March, PNG’s Treasurer Abel accused me of “blurting out speculations” and talking “nonsense”. With respect to the Treasurer, it would be more productive if we dealt with facts and the issues rather than issuing emotional comments. The facts are as I stated, and these are available directly from the […]

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“PNG is in a deep financial crisis. In such circumstances, it can be difficult to find a way out. Sometimes, going back to basics is the key – back to the fundamentals of good economic management leading to improvements in confidence. Better confidence can stimulate more investment and then higher growth and then more revenue […]

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“Getting PNG’s non-resource growth rate back to at least 5 per cent per annum requires more, better quality and better targeted investment in our country’s infrastructure. Recent years have seen massive real cuts in the government’s support for infrastructure of 51% between 2015 and 2018. This is a cause for PNG’s poor growth prospects from […]

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Increased EITI transparency very welcome – but where did all the money go?

“The Alternate Government welcomes more information being made available about resource revenues. The Extractive Industries Transparency Initiative (EITI) is a very positive step forward. The release of the 2015 and 2016 reports shows the professionalism of the EITI Secretariat and the committee which supports them. Treasurer Abel’s support for the initiative is welcome, following in […]

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