Put loan to good use

Letters

THERE is confusion and anxiety about the terms and conditions of the International Monetary Fund (IMF) loan available to countries under the Covid-19 pandemic stimulus package to avert global recession.
IMF has no choice but to step in to lessen effects of a recession or it will lose big time if and when the global financial system collapses as a direct result of all recipient nations defaulting on loan repayment obligations concurrently and sporadically than ever before.
Against the above synopsis, a simple loan condition for PNG is to record a few positive cases and show its vulnerability to a possible second wave of the Covid-19 pandemic as predicted by experts to extend the state of emergency by another two months to qualify for the US$300 million (K1.2bil) at zero per cent meaning that only the principle amount will be repaid after five years of grace period.
It is our reverent hope that the funding will be put into good use to get the domestic economy into self-sufficiency mode as a stepping stone towards economic independence in the next 40 years.

LG,
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