Comments

Human beings are smart monkeys. We often create trouble wherever there is opportunity. Creating financial opportunity will inadvertently bring about conflicts. Hence to manage opportunities, financial or economic, well-established mechanisms are needed. Pacific Parliament may be a good way to go if we were to establish any financial system to address situations like Covid-19. Even when PICs already have a few well-structured Pacific institutions, they do not have effective jurisdiction on matters of finance, and social and economic policies. This is what the Pacific Parliament might be able to achieve, but, indeed it requires financial backing or more appropriately, financial opportunities. Which one comes first is immaterial. Of course, without jurisdiction and established governance processes such institutions would be messy. So a governing institution is indeed necessary which not only manages resources but also has functional jurisdiction. Therefore, a sincere start needs to be made and I think this is the best opportunity to make serious moves with commitment.

When you have arrogant leaders leading the country, what else do we expect? We have a school drop out PM and Mr Know it all Minister of Economy is a disaster waiting to happen. They so over themselves not prepared to sacrifice and make tough decisions. Most of their spending like on Military is way too much and people can see that it is a waste since it doesn't generate any income back to the country. Why does this Government feel they need to have a big Military Budget? Most of the policies that this Government rolls out are either done in a hurry or with lack of proper engagement from stakeholders involved. Nepotism and Corruption seems an acceptable practise within the civil service. The compromise of the judiciary and rule of law are hurting our people and also drives investors away. They are running out of options. It is clear that if they don't change the way they are running our country, and be prepared to listen and open to suggestions, we are heading towards the doldrums.

Thank you for articulating so well some of the struggles you have faced while studying. It is young women like you who will challenge your male peers to rethink how they can be more inclusive and respectful of female students

I thank the Honourable Member and Professor for his input into the ongoing discussion but I believe that another regional body/institution is not the approach we should be making at this time or an economic package of grants or even worse new loans. The answer is finance and not politics. If we go back to the last few years of discussions at the Forum Economic Ministers Meetings we will see that the issue of the Pacific Resilience Facility, which in one of its original forms, had a regional stabilisation mechanism included in the proposal, plus a private sector and community fund to support specific actions. For the region, the support of national decision-making and governance needs to be supported and strengthened to enable sound policy and decisions. The thing that is missing is finance that is independent of the World Bank, IMF and ADB approach to loans funding loans. Pacific countries have a limited ability to borrow and act fiscally at this time. Hence, a regional fund controlled by Pacific Governments is the best way to support Pacific Governments and sustain expenditures in a time of great economic uncertainty and challenge.

Thank you, Archie Jay, for your comment. The GoPNG has put in place a stimulus package, with additional measures required as proposed in this blog. This should assist in providing job security for the employees, especially in the SME sector which employs +200,000 people. If the GoPNG prudently manages the funds raised from the fiscal measures (if successful) and cuts other expenditures to be affordable, it can rise up to the challenges. It’s advisable to work within the stimulus package threshold first, and seek further assistance for budgetary purposes if things escalate. Having said that, it's too early to discount the need for further borrowing - prerogative of the GoPNG. COVID 19 infects people indiscriminately, hence important that we all remain vigilant and follow WHO and NDoH guidelines without giving in to fear and panic. Thank you

INTERESTING AND INFORMATIVE

Nice blog Shanella. I had no idea you faced these challenges last year when I taught you. Economics has always been male dominated, even when I studied at UPNG 8 years ago, and at my masters classes at ANU 2 years ago, I suspect because more males are interested in pursuing the field. Thanks for persevering, and do not hesitate to alert the SBPP staff to any of these challenges.

Sir Your concern on our economy is the national catastrophe and Sir Marape needs to look seriously on this matter. On saying this our Government has to think outside the box Since COVID-19 is here but how do we save our economy after the recession? PNG please snap out of the Dream we've been living in for the last two months I know COVID-19 is real but it had been with us all along for ages come on . If we Don't wake up PNG economy will be down to NIL STOCK and to regain composure PNG Government will have to Knock on the World Bank Door again with the massive amount of loans we have already on hand. MAY GOD FORGIVE US ALL for selling our country...

Hi Ambassador, Thank you very much. This is an eyeopener, the severe economic crisis is looming in the PSIDS in light of the COVID-19 lockdown measures, especially in those which do not qualify for the concessional loans. The PSIDS are facing multiple challenges from the restrictive COVID-19 measures, the most serious among them is the collapsing economies from border closures. Indeed, the stimulus package is not a long- term solution for the Pacific Island countries which are already most vulnerable to climate change and at the same time highly dependent upon their trading partners for development. Therefore, Corona Virus containment is critical, which for sure, is a colossal task.

Total agree. When we set the pendulum, making our people to believe this way, we are on the road to recovery

Tuff tumas Ambassador Tevi God I blessem yu mo family mo stap safe always!

Hi Michael Thank you so much for your effort in researching and writing these articles. I enjoy the insight gain from reading about our country especially the piece on Bougainville. Hope our leaders and policymakers learn from them.