The Deputy Opposition Leader has issued a statement highlighting Papua New Guinea's economic crisis. Mr. James Nomane says this is evident because the kina has dropped to an all-time low, now worth only 0.19 US Dollars. He says the impact of these economic challenges is felt across the nation, as K100 no longer buys the same amount of food it did in 2019, and the cost of living has worsened, and citizens are facing increasing hardship. Mr. Nomane was responding to a statement by the Prime Minister James Marape on Monday, August 19th, claiming that the "economy looks good." The Deputy Opposition Leader described this statement as seemingly 'disconnected from the harsh realities' Papua New Guineans are facing. He said the cost-of-living crisis continues to worsen, and businesses are leaving the country, further accusing the Marape government of failing to achieve economic growth, high employment, and price stability. Mr. Nomane pointed out that the exchange rate has plummeted to an all-time low, with PGK 1.0 now equivalent to only 0.19 USD, meaning roughly K5 is needed to buy 1 USD. He said this significant devaluation of the kina has never occurred before in the nation’s history. He further said debt levels have soared to over K66 billion, with the debt-to-GDP ratio surpassing 52%. He claims that in just five years, Marape has borrowed more than K34 billion, which is more than what all previous Prime Ministers borrowed over 44 years from 1975 to 2019. He also claims that the continuous money printing by the Central Bank is fueling inflation beyond the reported 5.5%, exacerbating the economic woes and diminishing the purchasing power of the kina. Mr. Nomane stated that the ongoing currency devaluation is driving up inflation, making imported goods unaffordable, and eroding investor confidence.