PNG's Debt to GDP ratio : simple explanation #jamesnomane #pngpolitics #accountabilitynow

Added: 2026-05-06

[00:00:00]Welcome back to PNG KPY. Here the honorable James Nomane explains in simple terms the impact of debt to GDP.

[00:00:08]Let's listen in.

[00:00:11]There's three important numbers for all Papua New Guineans to be aware of at this critical point in our journey post independence. One is the fact that we are 66 billion kina in debt.

[00:00:24]In 2026 we have been gray listed.

[00:00:28]That's the year that we have been gray listed.

[00:00:30]And that the kina devaluation has eroded over 40% since 2014.

[00:00:39]That's how much devaluation has weakened our local currency.

[00:00:45]And don't forget devaluation has a direct impact on inflation.

[00:00:50]So as we erode the value of our currency, we we erode the purchasing power of the kina and we increase the cost of living crisis. We worsen it. That's affecting families throughout the country.

[00:01:07]The 66 billion kina debt it uh it equates to over 55% of the debt to GDP ratio. That's that's the that's the measure of how much debt uh the country is in compared to the size of the economy.

[00:01:26]So the way and also uh no one block one kina we making low taxes.

[00:01:35]55 kina blow blow this low one kina must go back low back in dinner.

[00:01:40]Now 45 kina we must holding low we must buy them with the money low education, health, law and order, strong in police, strong in defense, strong in correctional services.

[00:01:52]Low low low now low something grab him agriculture. One time 45 kina that's all low one kina.

[00:01:58]Because 55 kina must go back low back in dinner.

[00:02:01]That's what we mean when we say 55% of the debt to GDP ratio.

[00:02:06]The amount of debt we've in incurred compared to the size of the economy.

[00:02:16]Country blow you me.

[00:02:18]Stay blessed.