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Guyana gets IDB help to prepare to track oil sector earnings

Guyana will be spending US$20 million on preparing the country get its rightful share of earnings that oil companies like ExxonMobil have agreed to pay government, Finance Minister Winston Jordan said Friday. “Unless we can get processes, legislation, bodies and monies all coming together, it will be a difficult proposition trying to match our wits with a giant like ExxonMobil,” ...

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Charges against Ashni Singh, Winston Brassington “frivolous” – Jagdeo

Opposition Leader Bharrat Jagdeo came out in swinging defence of former Finance Minster, Dr. Ashni Singh and former Head of the Privatisation Unit, Winston Brassington who have been charged with misconduct in public office. “In three years, that’s all you can charge for ? procedural errors and we don’t believe they are procedural errors,” Jagdeo told a news conference. He ...

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Former Finance Minister Ashni Singh, NICIL Head Winston Brassington charged in connection with GY$900 million land sales

Former Finance Minister, Dr. Ashni Singh and former Head of the National Industrial and Commercial Investments Limited (NICIL)/ Privatisation Unit, Winston Brassington were Thursday given until early next month to make an appearance in connection with the sale of three plots of land for a total of more than GY$900 million. Three charges of alleged misconduct in public office were ...

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Ashni Singh, Brassington charged in connection with land sales

Former Finance Minister, Ashni Singh and former Head of the Privatisation Unit, Winston Brassington have been charged in connection with the sale of threw plots of land. Their lawyer, Anil Nandlall said they have been charged with three counts f misconduct in public office. Nandlall said it has to with the sale of the three plots of land on the ...

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Guyana to hire overseas experts for Department of Energy

President David Granger on Wednesday said government would be turning its attention to overseas hire experts to staff the Department of Energy in the Ministry of the Presidency. With a road-map already in place, the Guyanese leader said the search would extend for a building and “quality personnel” for the Department. Saying that already “there is progress”, Granger acknowledged that one ...

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Chamber, MAPM to file objections to parking meter by-laws

The Georgetown Chamber of Commerce and Industry (GCCI) and the Movement Against Parking Meters (MAPM) on Monday announced that they would be filing objections to the parking meter by-laws. Approved last week by 13 of the councillors who were present, the by-laws have been posted up at several locations across the City for 14 days to allow citizens to make ...

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Exxon sparks IMF Concern with weighty returns in tiny Guyana… royalty rates well below international standards ; tax laws should be revised

Reproduced from Bloomberg Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play, that the tiny South American country should rewrite its tax laws, the International Monetary Fund said. While Guyana should honor the existing deal, future contracts should ensure the state gets a higher portion of crude proceeds, the fund said in a report ...

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Guyana has not borrowed from Islamic Bank, but US$900 million is available– Finance Ministry, following Jagdeo’s criticism

The Ministry of Finance on Saturday said Guyana has not borrowed any money from the Islamic Development Bank (IsDB), but could potentially tap into a total of US$900 million in loans and grants “Guyana has not received any loans from the Islamic Development Bank,” the Finance Ministry said after Opposition Leader  Bharrat Jagdeo criticised government for borrowing US$900 million from ...

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