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From Scott Hook on Time for a Pacific Community
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.
From Jotam Sinopane on PNG’s economic stimulus: an assessment
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
From Maholopa Laveil on Studying in a male-dominated environment
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.
From Archie Jay on PNG’s economic stimulus: an assessment
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...
From Prashant on The Pacific’s economic response to COVID-19: will it be sustainable?
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.
From Howard on Can PNG become the richest black nation in the world in ten years?
Total agree. When we set the pendulum, making our people to believe this way, we are on the road to recovery
From Anne Pakoa on The Pacific’s economic response to COVID-19: will it be sustainable?
Tuff tumas Ambassador Tevi God I blessem yu mo family mo stap safe always!
From Peter Nerau on Three issues that will shape PNG politics from 2020 to 2022
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.
From Thalia on Can PNG become the richest black nation in the world in ten years?
I am in agreement with Peter Aglua. A Jacko (not his real name) of Gwaimasi village gave COVID-19 a Christian Perspective. The article is posted in this same blog. May you all take time to find it and read. The title is " god-health and covid-19-in-remote-papua-new-guinea.
PNG can become the richest nation in ten years. As the good book records, and I a paraphrasing 'A thousand years can be as one day, and one day can be as a thousand years' to God that is.
Seeking and following God's wisdom which may/will seem foolish to learned people, but once the simple people (of which 80 % of our people are) catch it, I anticipate a miracle!!
From Bobby Heni on Three issues that will shape PNG politics from 2020 to 2022
Who do we see over Termination of Employment during S.O E?
From Fiona Hukula on Studying in a male-dominated environment