“The Treasurer is once again presenting a very rosy picture of PNG’s exchange rate situation and attacking anyone who questions the government’s spin. In an extraordinary attack on the Post Courier yesterday, the Treasurer once again failed to talk about how badly the foreign exchange shortages are being managed. The undisputable fact is that in […]
“There are rumours that the NEC is to meet as soon as this Thursday and consider accepting a $US500 million Sovereign Bond at an 8 per cent interest rate for 10 years. If this is true, then the cost of the bond would be too high for the people of PNG. This decision does not […]
“The lack of foreign exchange has become the biggest barrier to doing business in PNG according to PNG business leaders. The shortages of foreign exchange have been going on for several years – everything was fine until 2014. Promises keep getting made that things will be better soon – but everyone keeps waiting and waiting. […]
“Yet another independent international source has given a thumbs down to the way the national government is mismanaging the economy. The international credit ratings firm Fitch has joined the other two big international credit ratings firms Moody’s and S&P in giving a worrying view of the real state of the PNG economy. Presumably in providing […]
“The Alternative Government of Papua New Guinea has some concerns about the proposed introduction of a new agriculture visa by the Australian Government. Any such scheme should ensure it does not undermine Australia’s people to people linkages with Pacific Island Countries (PIC’s), including Papua New Guinea “ said Ian Ling-Stuckey, PNG’s Shadow Minister for Treasury […]
“The Treasurer has returned from his expensive overseas junket promoting his risky, short-term, soft option for dealing with the Governments foreign exchange crisis and debt crisis. The Treasurer is not admitting that a sovereign bond is now the wrong path for fixing the foreign exchange crisis crippling economic growth. The Alternative Government has better and […]
2019 Budget Strategy – Counting the chickens before the eggs are hatched “There are many serious questions that the Treasurer needs to answer to restore any credibility to the governments so-called 2019 Budget Strategy. Let me focus on the two new elements to this strategy. The first is breaking with tradition and declaring the government’s […]
“On the occasion of our 43rd anniversary of Independence from Australia on 16 September 1975, it is timely to reflect on how our great country has been going over the last twelve months. On balance there is a pretty mixed report card, with some good achievements and some clear problems” said the Hon. Ian Ling-Stuckey, […]
“PNG’s Treasurer is now travelling around the world on a first class ticket with well-paid financiers trying to sell PNG’s Sovereign Bond to international financial markets. There are far cheaper and more objective means to test the market for PNG sovereign bond appetite instead of the Treasurer proving he has fallen in love with travelling […]
QUESTIONS WITHOUT NOTICE TUESDAY 4 September 2018 PNG’s 2019 Budget Strategy Thankyou Mr Speaker, My questions are directed to the Treasurer, on the 2019 Budget Strategy he released to this Parliament last Friday. Mr Speaker, I thank the Treasurer for releasing this document. As he indicated in his speech, this is an important paper in […]