Papua New Guinea's prime minister has proposed a commission of inquiry into a controversial state loan from the Swiss bank, UBS.
James Marape (centre in black suit) walks back to parliament after being sworn in as prime minister of Papua New Guinea, 30 May 2019. Photo: RNZ Pacific/ Melvin Levongo
The former prime minister Peter O'Neill took out the $US1.2 billion loan in 2014 to buy a stake in the resource company Oil Search.
In parliament today, Prime Minister James Marape tabled a report by the Ombudsman Commission, in which he, Mr O'Neill and other senior officials were implicated.
The Ombudsman found that Mr O'Neill misled cabinet into approving the loan, and that Mr Marape, as then-finance minister, signed it off despite knowing of irregularities.
When tabling the report, Mr Marape proposed a commission of inquiry into the loan.