UBS should be banned from doing business in PNG after loan deal, PM tells parliament

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James Marape says failed deal cost country ‘in excess of $AUD340m’ and accused bank of overcharging by AUD$175m

Mr O’Neill “knew the submission was complex and lengthy” but did not give the rest of the cabinet “advance notice or opportunity to debate the submission”, he added., was serving as finance minister when the deal was struck.

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