Stop hiding IMF Reports, Polye warns

Opposition Leader Don Polye has called on the Government to make public the International Monetary Fund Report.

Polye said hiding the report will not solve our problems but bring a bad reputation to the country.

“Because the IMF Report will be telling the truth of Papua New Guinea’s financial situation and economic conditions, the Government decided not to make public the report.”

Polye claimed the IMF report will declare PNG as in economic recession and that the government has not put in any reforms or economic restructure and adjustment and the calamity they have brought up on the people.

“The truth in the report will be that the Central Bank will be force to produce new notes and that the inflation will be very high.”

He said the IMF Report will not be a good report as far as the government is concerned but as far as the country is concern, the IMF Report is truthful.

Polye added that the Government has not been telling the truth but concealing the truth and are ashamed.

“Hiding the IMF Report will not solve the problem or bring any financial solution to the country,” he said.

He called on the Government to admit that they have failed miserably and lied and have no solution to the calamity in the country.

However, Prime Minister Peter O’Neill told Loop PNG earlier that, the report is still with the Treasury Department for deliberation.

“It is my understanding that IMF mission report is being still discussed between Treasury and IMF because of some discrepancies.”

“The report has not reached NEC and therefore cannot comment any further,” O’Neill said. 

Economic expert and Institute of National Affairs Director Paul Barker also revealed that the refusal by government to publish the IMF Report may brought speculations to the investors and the citizens of this great nation.

Barker said, “in any case, around the world, it’s almost unheard of for IMF reports not to be released, and in PNG the IMF reports have always been released to the public promptly,” Barker said.

The IMF Article IV reports assess the state of the economy, and particularly the monetary aspects, and clearly aims to assist governments and Central banks manage stable monetary and wider economic conditions.

Freddy Mou