Скачать или смотреть Peter O'Neill Condemned Government for Misappropriation of Treasury Bills

Former PNG Prime Minister Peter O'Neill has expressed concern over the government's failure to raise sufficient funds through government inscribed stocks (GIS) and treasury bills. The Treasury only raised 135 million Kina, falling short of the targeted 800 million Kina. O'Neill attributes this shortfall to a lack of confidence from investors, both domestic and international, in purchasing short-term high-interest treasury bills. In a desperate attempt, the Treasury introduced a special non-competitive treasury bill of 300 million Kina. O'Neill criticized the government for excessive spending and warned that continued borrowing will worsen the country's economic situation. He urged the government to reconsider its spending habits to avoid further financial instability.