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Foreign exchange rates for wide-ranging discussion

Representatives of the banking sector and the business community are next week Monday scheduled to hammer out ways of addressing concerns about the availability of foreign exchange, President Irfaan Ali said Saturday. He said he has instructed the Minister of Finance Dr Ashni Singh to convene a stakeholder meeting with the private sector, the Bank of Guyana, all commercial banks ...

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Guyana forges ahead with China’s Belt and Road Initiative

Guyana has agreed to go ahead with the next step of China’s physical infrastructure-centered Belt and Road Initiative, according to a joint statement issued by the two countries to mark the end of President Irfaan Ali’s one-week official visit to that Asian giant. “The Guyana side expressed willingness to discuss and conclude the Joint Action Plan on Promotion of the ...

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CDB’s regional non-borrowing countries back Barbados’ new development financing model for poor countries

CASTRIES, ST Lucia, June 20 (DW).-Regional non-borrowing members of the Caribbean Development Bank (CDB) on Tuesday backed Barbados’ plan for rich countries to fork out billions of dollars in grants and cheap loans to poor nations like those in the Caribbean to help them grapple with the impacts of climate change. “The Bridgetown Initiative 2.0 could generate sufficient momentum and ...

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FAO assisting Guyana to increase cherry production

The Food and Agriculture Organisation (FAO) is assisting Guyana to increase the production of West Indian Cherry (Acerola) and reduce the amount of concentrate being imported by local juice producers, that United Nations (UN) body said. “While the demand for cherry remains strong in the country, especially for use in the fruit juice industry, the country has not been able ...

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APNU+AFC gov’t, ExxonMobil had no agreement for Guyana to pay for new headquarters -Mahipaul

Opposition A Partnership for National Unity+Alliance For Change (APNU+AFC) parliamentarian Ganesh Mahipaul on Friday said his then governing coalition and ExxonMobil never agreed that the US$160 million that would be spent on building a new headquarters building at Ogle, East Coast Demerara would be recovered from oil revenues. “I’m guided that there were discussions and there was no agreement with ...

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Norton’s gas price subsidy is “cake-shop” economics – Jagdeo

Vice President Bharrat Jagdeo on Wednesday frowned on Opposition Leader Aubrey Norton’s proposed subsidy on the price of gasoline in order to ease the rising cost of living. Mr Norton specifically recommended that the government should ensure gas prices do not increase above a determined level by compensating suppliers for any price increases where the excise tax reductions have already ...

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ExxonMobil faces increased fine for flaring

The ExxonMobil-led Esso Exploration and Production Guyana Limited (EEPGL) will have to be pay a higher fine of US$50 per tonne of carbon monoxide, up from US$30, if it breaches the flaring rules under its Environmental Protection Agency’s (EPA)-renewed five-year permit for the Liza 1 project in the Stabroek Block.  “The permit also goes further to require the Permit Holder ...

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Bailout for high cost living; income tax to be lowered

President Irfaan Ali on Tuesday , one day ahead of the 2022 National Budget presentation, announced that government  has set aside money to cushion the impact of  rising cost of living but indicated that it would not be unconditional cash grants. “A specific sizeable allocation will be made to address the issue of cost of living,” he said, adding that ...

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Use ‘oil money’ to provide income tax relief, increased pensions, grants, improved infrastructure

The opposition People’s National Congress Reform (PNCR) on Friday recommended that government considers a raft of measures, including lower income tax, fatter pay packets and increased pensions in the 2022 national budget to cushion the impact of the 20-percent increase in the cost of basic items. Highlighting that Guyana’s economy was projected to record real growth of 49.7% plus US$607 ...

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Policies to be crafted to cushion impact of rising global prices- President Ali

President Irfaan Ali on Saturday- Christmas Day- said government would be working out policies to ease the impact of  rising global prices as a result of a slowdown in supply chain operations because of the coronavirus pandemic. “The outlook for 2022 is exciting but will not be without challenges as we continue to face a worsening global supply chain. The ...

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Stand-alone Airport Delay Map

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December 2023