PM Marape, O’Neill argue over economy and debt

PRIME Minister James Marape has told his predecessor, Peter O’Neill, that he is not qualified to talk about managing the economy, after leaving behind an “eroded” one in 2019.
“When we took over Government (from O’Neill) in 2019, the economic fundamentals were so weak.
“It was eroded,” Marape said.
“The former prime minister knows very well the (state of the) economy he passed over.
“I was his finance minister.
“The reason I resigned was because of his appetite for unsustainable debt.
“He is unqualified to talk about managing the economy.”
He was replying to O’Neill’s statement earlier that Marape was giving the House “misleading statements”.
“When we were in Government, yes we got debts (which were used to) build infrastructure in the country,” O’Neill said.
“We left K28 billion debt in the country. Today, it’s K53 billion.”
Marape interjected with a point of order, telling O’Neill: “It’s a K39 billion debt you left behind. All borrowed publicly and hidden in State-owned enterprises.”
O’Neill continued: “You are not telling the nation we are in serious crisis.
“Cut spending on non-priority areas.
“If we are to make sacrifices, let’s make (them).
“We must all put our heads together and rescue the position we are in because all is not well.
“This is not about politics.”
But Marape said that in 2018, under O’Neill, there was clear evidence that “we were at the precipice”.
“We were falling into an economic abyss that we could not step out from,” he said.
“When you (O’Neill) talk, you talk with context.
“We aim to bring our country out of the bondage of debt that we have carried for so long.”
He thanked Treasurer Ian Ling-Stuckey for cleaning up the damage created by O’Neill.
Ling-Stuckey told Parliament that there was no evidence to prove that people were suffering.
“We continue to hear statements like people are suffering, families are suffering. (But) no one provides any facts,” he said.
“The data that we have and use in Government don’t support those.”