O'Neill Vows PNG Opposition Will Remove IMF if They Form Government
Former Prime Minister Peter O'Neill has pledged that the Papua New Guinea Opposition will remove the International Monetary Fund (IMF) from the country if they return to power. O'Neill made this commitment amid sharp criticism of the IMF's recent deposit of K470 million into the PNG Budget, which he described as an effort to bolster Prime Minister James Marape’s resources ahead of a crucial Vote of No Confidence.
O'Neill accused the IMF of aligning itself with Marape’s political agenda, contributing to the devaluation of the Kina, and worsening the country’s cost of living crisis. He argued that the IMF’s involvement is undermining PNG’s democracy, noting that while he and former Prime Minister Sir Michael Somare had kept the IMF out of the country for over 20 years, the Marape administration has allowed the organization to establish a permanent presence in Port Moresby.
O'Neill condemned the current budget process as deeply corrupted, describing it as a "reverse modern-day Robin Hood" scenario where resources are diverted from the poor to benefit the wealthy. He highlighted the fact that despite 60% of the year having passed, less than 30% of the allocated funds for essential medicines in health clinics and hospitals have been released, leaving the public in a critical situation. In contrast, the Prime Minister's Department and the National Executive Council (NEC) have received more than double their budgeted allocation.
The former Prime Minister also criticized the IMF for disbursing such a substantial sum into PNG's budget without ensuring proper oversight. He pointed out that key government departments and agencies have not been audited by the Auditor General since 2018, yet the IMF has chosen to inject nearly half a billion Kina into the government's coffers. O'Neill questioned the timing of the disbursement, which comes just two weeks before a Vote of No Confidence against Marape, and expressed doubts about whether these funds would be directed to critical areas like health, education, and other essential services.
O'Neill denounced both the IMF and Marape, asserting that their actions are detrimental to the future of Papua New Guinea. He warned that the IMF's involvement is only leading the country further into economic and social difficulties.
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