NEW TWIST IN $100B LOAN - Solomon Star News

NEW TWIST IN $100B LOAN
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26 February 2020
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Office Of the PM & Cabinet.


Claims senior MPs may benefit from 11% interest

By ANDREW FANASIA

SENIOR Members of Parliament (MP) within the Democratic Coalition Government for Advancement (DCGA) have a share in the $11 billion money earmarked for the broker Terry Wong.

This is the latest claim from reliable sources within the Office of the Prime Minister and Cabinet (OPMC) last night.

Documents leaked revealed the Solomon Islands Government discussed a $US100 billion (SBD$800 billion) loan from a Chinese businessman who will be gifted with US$11 billion.

One source within the government circle who is familiar with the whole issue told this paper last night that Mr. Wong is a  good friend of senior MPs in the government.

Including the Minister for Finance and Treasury Harry Kuma, they believe that all of them are part of a network Chinese ring in the Solomon Islands, it was alleged.

When the confidential documents were leaked out in the media Kuma publically confirmed that the leaked letters showing him in discussions about a possible loan are real.

Cabinet was not aware of the deal until it came to light. 

But according to one government insider Government MPs are not happy about the whole deal as it was kept secret.

The source familiar with the deal revealed that the Minister for Finance used an official government letterhead. 

“Meaning, it was either endorsed by Cabinet or instructed to do so. 

“Such deals should at least be informed to Cabinet but this was not the case. 

“So who gave the instructions for the loan? 

“Did the Minister acted on his own regarding this USD$100 billion deal?” the source questioned.

The government insider further pointed out that there is an outstanding demand from Chinese elements for certain MPs within a particular political party here to repay their debts owed to them during the national general elections last year during the lobbying period.

The insider added that there are also outstanding demands from MPs for their support for the vote to switch allegiance last year.

“So this means that the power of money to hold the government together for the next 3 years and rule as dictatorship is also high on agenda,” the government insider told this paper last night.

Meanwhile, the Opposition leader Mathew Wale said that the Solomon Islands is heading to disaster under the leadership of Sogavare and his cronies. 

He said the move to apply for a loan shows the current regime does not have a vision for this country. See separate report.

 

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