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Date Posted: 18:57:05 02/13/00 Sun
Author: Anonymous
Subject: Re: What faith has foreign aid had in PNG?
In reply to: 's message, "What faith has foreign aid had in PNG?" on 18:41:03 02/13/00 Sun

You are correct about PNG being pounded on by the lending aggreements of some countries. The National debt is terrible. I think that the finance minister should get all of the lenders into one big meeting some day and tell them to either help PNG by consolidating these loans or just write them off. Either way, PNG can not afford these rates.

It is not that PNG is not important that they do not get US-AID. US-AID does not actually lend money direct. They depend on donations from American Companies to fund their projects and anymore these are generally for disaster relief. For the companies it is a win win situation. They get a tax break for the donations and they get rid of suppluses. In recent years there have been so many natural disasters, floods in Central America, earthquakes in Turkey and of course the nasty wars in in Bosnia and such that this fund has been stretched to the limit.

There are economic assistance programs availible for countries like PNG but unfortunately the government leaders do not pursue these. Maybe thing will change in the neqar future. I hope they do.

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