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Economy

Petty city crimes no big impact on tourism – GTA Director

Director of the Guyana Tourism Authority (GTA), Brian Mullis does not believe that crime is discouraging tourists from visiting this South American nation because visitor figures continue to grow. He says most of the crime seen is petty theft in the capital city, Georgetown, and must be placed in the proper context. “I think we also acknowledge that most of ...

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Scrap taxes instead of giving ‘oil money’ handouts – Investment Fund Manager

The idea of handing out ‘oil money’ to Guyanese continues to get low marks from experts such as Finance Minister Winston Jordan and Investment Fund Manager, David Pollard. Delivering a public interest lecture on the “Impact of Oil Revenues on Guyana” under the auspices of the Guyana Securities Council, Pollard made it clear that cash handouts would encourage laziness among ...

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Barbados wants to rear Blackbelly sheep in Guyana, Suriname

Reproduced from Barbados Today Government is exploring the possibility of rearing Barbados Blackbelly sheep in CARICOM’s two largest member states, Suriname and Guyana, as top civil servants prepare for a mission to South America next week. Paramaribo and Georgetown have offered land to Barbadian farmers for sheep rearing, said Minister of Agriculture and Food Security Indar Weir. “We are sending ...

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Gov’t crafting oil and gas safety and health regulations

A new package of regulations governing workers’ safety in the oil and gas sector is being crafted, Occupational Safety and Health Consultant at the Ministry of Social Protection, Gwyneth King said Wednesday. She made the disclosure at a Health, Safety, Security and Environment Conference and Exhibition hosted by the American Chamber of Commerce of Guyana in collaboration with the American ...

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OPINION: Prisoner’s Dilemma and a call to extend and reform

Guyana’s political establishment is faced with a version of the Prisoner’s Dilemma. By Terrence R. Blackman (PhD) and Thomas B. Singh (PhD) July 11, 2019 The Prisoner’s Dilemma is a well-known concept in modern game theory. It is a paradox in decision analysis in which two players, each acting in her own self-interest, will fail to produce the optimal outcome.  ...

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Scrap Grade Six exam, improve access to good quality education- CDB official

The Caribbean Development Bank’s (CDB) Director of Economics, Justin Ram on Friday recommended the scrapping of the National Grade Six Assessment, even as he urged Guyana to be wary of a reduced population by 2100. Addressing the Georgetown Chamber of Commerce and Industry’s launch of the 10th edition of Business Guyana titled ‘Guyana: Potential Unleashed’, he commended the Barbados government ...

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Caribbean economist urges governments to reduce air fares

Director of Economics at the Caribbean Development Bank (CDB), Justin Ram has slammed regional governments for the high cost of air travel and he has called on them to slash the taxes and rake in more value-added and income taxes. “What I’m saying to governments—and I go all over the Caribbean—I say to governments: ‘stop being so myopic, reduce taxes ...

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OPINION: The Forest Sector: The Jewel Standing Tall at the Intersection of Guyana’s Green and Brown Economy

By Deonarine Ramsaroop, Rafeek Khan and Dr. David Singh Guyana now stands at the winners’ podium for its non-renewable natural resources. Its oil and gas reserves are causing a growth rate of 16.3% between 2018 and 2021, double that of Ethiopia the next fastest growing economy. Indeed, the country’s brown economic output is set to explode. In a few short ...

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Industrial unrest at Aurora Gold Mines

Gold mining operations at Aurora Gold Mines in the Cuyuni River have been affected as several Guyanese workers who are upset that they stand to lose their jobs to foreign contracting companies aimed at reducing the cost of operations staged a protest, sources said Tuesday night. Early indications are that at least 70 workers initially downed tools in protest over ...

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