PM Marape accused of attempting to change Laws to borrow K4 billion Loan

 Papua New Guineans right across the country are hurting as the government avoids the very serious issues that harm families, that will be made much worse with the new attempt to change laws so they can borrow billions of more Kina.

The Leader of the People’s National Congress Party, Hon. Peter O’Neill, CMG, MP, said it is a sad day for all Papua New Guineans when a politician attempts to manipulate our Christian Faith for political gain, while covering up desperate dealings that will send the country into a deeper debt hole.

“Marape is fumbling crisis after crisis as his policy vacuum harms the economy, mines remain shut and resources projects stalled as his self-imposed deadline to resolve these issues is only two weeks away,” Peter O’Neill said.

“The solution to this mess that Marape created is not to keep looking for cash handouts and more debt, but to start doing the hard work that will bring back investment, and get business moving and jobs restored.

“He is now trying to distract the media from his latest secret money grab by issuing a press statement about changing the wording of the Constitution to prove our commitment to faith.

“Let me state the undeniable fact on which we all agree, Papua New Guinea is a proud Christian Nation, and this sudden grandstanding on the issue is just another attempt to distract media and public attention.

“Because, right now the government is trying to obtain four billion Kina in additional debt, that is on top of the more than 11 billion Kina already borrowed in the past year.

“This new debt includes a one billion Kina loan from Japan, and the attempt to change the Bank of Papua New Guinea Act so Marape can raid three billion Kina from National reserve funds.

“If BPNG is forced into this 3 billion Kina raid on government securities, it will have long- lasting negative impacts on the economy and future development.

“This will push foreign currency reserves into a massive decline that will depreciate the Kina and push up food prices, lead to a further ratings downgrade and capital flight.

“Marape should respond to the specific questions from the media, and confirm or deny that he is seeking to borrow one billion Kina from Japan.

“He must tell the media if he is seeking to change the BPNG Act so that he can take as much as 3 billion Kina from our National reserves.

“These are simple questions that the media are asking Marape and he can just be honest and answer yes or no.”

statement

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