Economy

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 ...

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 ...

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 ...

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.  ...

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 ...