Business

By Peter Richards BRIDGETOWN, Barbados, Jan 19, CMC – The President of the Barbados-based Caribbean Development Bank (CDB), Dr Hyginus ‘Gene’ Leon, has been sent on administrative leave until April this year, as “an ongoing administrative process” continues at the region’s premier financial institution. Well placed sources told the Caribbean Media Corporation (CMC) that Leon’s computer and tablet have been ...

The Guyana government would be seeking an official explanation from the Caribbean Development Bank (CDB) about what is going on at that Barbados-headquartered financial institution after news surfaced that a number of officials were sent on leave, Vice President Bharrat Jagdeo said Thursday. “We’re going to try to find out a bit more about what is going on and from ...

Even as Guyana’s private sector is welcoming the GY$1.1 trillion dollar national budget, University of Guyana Economist Dr Thomas Singh sees the need for long term planning to guarantee growth while saving. While governments prefer to deliver annual programmes, he argued that Guyana could not achieve sustained economic growth by spending heavily on social and physical infrastructure on the basis ...

The  Caribbean Development Bank (CDB) late  Wednesday night confirmed that “administrative” action has been taken, but stayed clear of saying whether that several top officials have been sent on leave. “Caribbean Development Bank acknowledges an ongoing administrative process involving the President. The Bank will not be making any further comments on this internal matter at this time,” the Barbados-headquartered financial ...

Opposition A Partnership for National Unity+Alliance For Change (APNU+AFC) parliamentarian, Amanza Walton-Desir on Monday discarded the 2024 National Budget minutes after Finance Minister Dr Ashni Singh delivered the GY$1.1 trillion package of expenditures. “It met my expectations of the PPP (People’s Progressive Party) government and that is absolutely nothing of substance for working class Guyanese,” she told reporters. Old Age ...

Finance Minister, Dr Ashni Singh 0n Monday announced in the GY$1.1 trillion National Budget that government would begin phasing in free university education only if borrowers could prove they were employed in Guyana. “We will commence the first phase of eliminating outstanding loans offered by graduates of the University of Guyana. On condition these graduates can demonstrate proof of being ...

A new digital platform, Litta Reporta, was launched at the weekend to assist authorities at the local and national levels, but the major problem is still expected to be collection of waste although authorities would be aware of the locations. The app was developed by Software Developer, 20-year old Maryam Bacchus, who has been described as having a “passion for ...

Ahead of Monday’s presentation of Guyana’s 2024 budget, the government and opposition coalition of A Partnership for National Unity+Alliance For Change (APNU+AFC) are citing the need for money in ordinary’s people’s pockets to grapple with spiralling cost of living and narrowing the gap between the rich and poor. Opposition Leader, Aubrey Norton has produced a wish-list for the 2024 National ...

The Guyana government is calling for private sector investors to propose how they can construct  a centralised gas connection, storage and transport facility for all natural gas accessed and produced by all oil companies operating in Guyana. In its Request for Proposals, the Ministry of Natural Resources, as the procuring entity, asked businesses to say how they would design, finance, ...

Guyana has saved just over US$800 million from more than US$3 billion in oil revenues since production began in 2020, even as the country is set to sell 27 entitled lifts this year now that production has begun at the Payara project, officials said. After government’s total withdrawals of US$1.002 billion in 2023 from the Natural Resource Fund (NRF) based ...