Former Treasurer, Member for Kandep and Leader of THE party Hon. - TopicsExpress



          

Former Treasurer, Member for Kandep and Leader of THE party Hon. Don Pomb Polye today said he is not surprised the State has experienced its first problem with the UBS loan when it failed to pay the interest payment for the UBS loan as part of its obligation in managing the A$1.239 billion (about K3 billion) loan. Mr Polye said: “I have warned the Prime Minister against the ramifications when the UBS loan was approved in a speedy manner without considering the risks involved in the bridge and collar loans. There are related problems with the loan if it is in default. The sovereign risk would have serious impact on the value of PNG kina and it will affect the economy.”
Posted on: Sat, 31 May 2014 03:14:05 +0000

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