By BIBIAN BARRENG
THE World Bank is looking at putting aside problems experienced with the Government in recent past and is re-establishing positive interaction with it on issues concerning the country’s development.
James Adam, vice-president of the World Bank in his four-day visit to the country, said goodbye yesterday and noted the stable Government and macro policies that had made enormous positive contributions to the country’s present economic position.
He was hosted to a farewell reception last Tuesday evening in Port Moresby where he noted that “lower inflation, fiscal discipline along with surpluses being used effectively to substantially reduce debt were some key areas that put the Government on a good macro front with a firm basis to look forward”.
“Over the last five years, one sees a set of macro policies that made an enormous positive contribution, I think, to the position PNG is in today,” Mr Adam said.
He admitted the forestry issues was the centre of tension experienced some years back, yet the World Bank and the Government had come to some clear consciences with areas the Government may seek support in.
Mr Adam said with the issue of forestry, two things were currently taking place at a global-level discussions aimed at providing financing to sustaining and preserving existing forests.
He said the Government stands on strong area for it to earn revenue by preserving its forests.
Mr Adam also noted that the Prime Minister had been an active participant in international dialogues.
“If there can be progress on this issue, it is going to have some strong support from PNG … so putting aside the problems from past and strictly recognising there had been issues, we hope the future will be more constructive and positive,” Mr Adam said.
Patrick Pruaitch, minister for Treasury and Finance in bidding farewell, requested fair representation of the country to assist in the country’s drive to push the economy.
“We hope that you will give us an appropriate hearing when it comes to taking decisions on our development requirements in terms of any assistance from the World Bank,” Mr Pruaitch said.
Mr Adam was presented some photographs of his first visit in the country.