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‘Outrageous junket’ triggers strong criticism of central bank

Mekere Morauta
Sir Mek - unhappy with central bank governor Bakani


PORT MORESBY - The current trip by the board of the Bank of Papua New Guinea to the Federated States of Micronesia is an outrage.

I cannot understand why the board could not meet in Port Moresby to save money at a time when the government and country has severe cash flow problems and a shortage of foreign exchange.

Can governor Loi Bakani tell us how much this trip is costing the bank? How much is it costing for the entire board of eight members, assistant governors, board secretary and other support staff to travel to and stay in Micronesia?

It is an insult to all the individuals and businesses owed money by the government to see the Bank of Papua New Guinea wasting it in this manner. 

It is a particular insult to all the individuals and businesses who have been waiting months for their offshore bills to be processed by commercial banks to see the Bank of Papua New Guinea board and staff junketing around the Pacific.

How can the governor justify not releasing foreign currency to commercial banks for their customers when he is happy to waste foreign exchange on travel allowances and hotels in Micronesia?

What is in the Federated States of Micronesia for BPNG board members to learn about? They have no central bank of their own. They have no currency of their own – they use US dollars.”

Central bank governor Bakani clearly has no sense of what is appropriate.

This inappropriate behaviour comes on top of the scandal of the theft and recirculation of disused bank notes and Mr Bakani’s outrageous statements during the election campaign telling candidates not to discuss issues concerning the economy or government finances as such issues were of no importance to the electorate.

No doubt he thinks his junketing around the world is also of no interest or importance to the people of Papua New Guinea, but he is wrong.

The man is clearly not fit to be the governor of the central bank.  I wonder how the prime minister and the treasurer will view this.  They certainly should take action.


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Michael Geketa

Marvellous critiques guys! But if you are a crony of the CEO of the country [PM], you will think and act like you own the country.

There are many top executives in government agencies, departments and SOEs who are part of this syndicate.

There appointments often were without merit but deliberately done to safe-guard someone's benefit.

No wonder we are this big mess and the victims are always the innocent citizens.

Francis Nii

They must have used the money from the 'quantitative easing' program meant for wetting the drying-up state coffers for the trip. Big shame.

Michael Dom

Bakani and Gamato both follow in the footsteps of their daddy-boss O'Neill, doing whatever they want with our money, our resources and our democracy.

These three men should be branded enemies of the state.

Philip Fitzpatrick

Good stuff - this is what an Opposition should be doing, pointing out the errors of the government.

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