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12 October 2009

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PM Somare is so spoilt by foreign leaders money that he has in the past 43 years found it so difficult to say no when it comes to free money.

When the Australian government tightens the screw on AusAid he will run to the Chinese or the Taiwanese if not the Malaysians to keep begging until the end is near...

What a wasted life doing the same job that he has still not mastered the art to save his poor suffering people from poverty, hunger, corruption , crime, unemployment, poor health and a very disunited country of many different people who will kill each other off after Somare is not around any more.

A sad ending for PNG.

Yes Paul, the MT promises will go on until the next national elections in 2012. The buck stops with the PM but he also does not show that he has his finger on the pulse.

The level of AusAID funding needs to be urgently reviewed with a jointly agreed percentage on a discounting basis over the next 10-20 years by both Australia and PNG. With the LNG production online after the elections, GDP growth may fluctuate between 7.5% and 10%. But we will still need the Australian grant to act as a long-term hedging strategy for the economy.

The PM has no idea when the Australian handout will end. He has not done any accurate calculations to be able to speak off the cuff and say it will be all over by 2015. What is his premise here - a pure guestimate?

There is no government 'fudge-factor' . I assess PNG will still need some slack in future to guard against sharp global market deviations.

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