Minister for Treasury Don Polye returned fromthe United States attending a two day Summit ontheInternational Monetary Fund.
Mr Polye was accompanlied only by his first Assistant Secretary Manu Momo to show that he is serious about cutting down on overseas travel costs.
Upon his arrival Mr Polye briefedthe media onthe outcome of his visit.
He wasted no time on giving an overview ofthe IMFWorld Bank Spring Summit. He also outlined what major business and financial players inthe international front had to say abouPNG’s economy.
Mr. Polye’said he learnt important lessons, ones that can be integrated with existing policies on economic and service delivery. He said Papua New Guineais in between an emerging market and low income earning country.
He also discovered that K170 million was given tPNG Government as concessional loan byWorld Bank. His office will investigate whythese funds were not used with plans to review financial and banking systems inthe country.
Beidgette Komatep, National EMTV News
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