Economy

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 ...

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 ...

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 ...

The Cuyuni-based Aurora Gold Mines (AGM) is Wednesday expected to begin flying out striking workers and non-essential personnel to Georgetown following a sit-in for fear they would not be paid severance, Company Vice President Perry Holloway said. “About 100 employees are blocking operations and this is unsafe for (us) so we are stopping work on most parts of the mine ...

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 ...

The Ministry of the Presidency says Minister Simona Broomes is not being restricted in doing her work in the areas of youth unemployment and training, following a meeting between her and President David Granger. The Ministry of the Presidency refutes any suggestions that Minister Broomes is being curtailed from executing her workplan as outlined by the President. “The two met ...

First Lady Sandra Granger on Saturday commissioned the ‘Liza Destiny’, the first in a series of Floating Production Storage and Offloading (FPSO) vessels for ExxonMobil Guyana at the Keppel Shipyard in Singapore. The vessel will depart Singapore in July and is expected to arrive in Guyana in September to prepare for the commencement of oil production for the Liza Phase ...

Finance Minister, Winston Jordan says investors have been walking away from buying any of the four shuttered sugar estates, an indication that Opposition Leader Bharrat Jagdeo is fooling supporters that the People’s Progressive Party (PPP) will reopen them if his party wins the next general elections. “How you are going to open back those four estates that is scrap iron ...

The International Monetary Fund (IMF) has pointed to lingering uncertainty about how much profit oil Guyana will actually rake in, even as that global financial watchdog says it is ready to help the country prepare for oil price shocks. Preliminary findings of a 2019 Article IV official visit show that Guyana is well on its way to achieving 4.4 percent ...

Ghana’s President, Nana Akufo-Addo has agreed that his country would help Guyana’s energy sector, Director-General of the Ministry of the Presidency, Joseph Harmon said. Briefing the media after Akufo Addo was conferred with Guyana’s national award, the Order of Excellence by President David Granger, Harmon said the technical assistance cooperation would be provided free of cost. “This is very important ...