Finance

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 ...

A powerful software developed by the Commonwealth Secretariat is being rolled out in Guyana to transform how the country manages its public debt portfolio of US $3.9 billion, the Commonwealth said Wednesday. At the request of the Government of Guyana, a team from the Commonwealth Secretariat was in Georgetown, the capital city, from 16 to 27 October 2023 to train ...

The President of the Caribbean Development Bank, Dr Hyginus ‘Gene’ Leon says media in the region are not performing effectively, for instance, in the areas of helping people to cope with natural disasters and address crime. “In small, vulnerable states, Caribbean media are particularly important to support relief and recovery efforts as well as disaster mitigation. But I fear the ...

The European Union (EU) is providing a new model of infrastructure pr0ject financing to Guyana and other Caribbean and Latin American countries that will see the bloc continuing to provide grants with the expectation that international and regional financial institutions will inject massive amounts of cash for larger projects, EU Ambassador to Guyana René van Nes said Thursday. “This is ...

by GHK Lall I note with interest the development where Guyana has joined regional information sharing networks to facilitate going after financial criminals (Demerara Waves, December 11, 2022). On the face of it, this is good for Guyana, with many possible pluses. On the other hand, for those familiar with the real Guyana, the one below the surface glitter, this ...

Guyanese who earn $75,000 per month or less will no longer have to pay income tax. Finance Minister Dr Ashni Singh made the announcement in his 2022 National Budget speech. “In this regard, we are proposing to increase the monthly income tax threshold from $65,000 to $75,000 monthly, thereby releasing a total of $1.3 billion into the hands of current ...

The European Union (EU) is providing another 7.5 million Euros for the further rehabilitation of Guyana’s sea defence, Deputy Managing Director for Americas, European External Action Service Mr Javier Niño Pérez announced on Tuesday. He said the decision to provide the additional cash to Guyana is because the country has managed the 30 million Euro disbursement that has seen at ...

Auditor General Deodat Sharma says procurement procedures were not followed by the then A Partnership for National Unity+Alliance For Change (APNU+AFC) administration to hire local and foreign lawyers to fight a series of political court cases from December, 2018 to July, 2020. Other cases for a number of government agencies were also cited in the total bill of GYD$170,828,203. The ...

A number of the small political parties that contested general and regional elections earlier this year continue to be given a stake in national decision-making. Two of the newly-constituted board members of the State-owned Guyana Oil Company (GuyOil) have been drawn from the United Republican Party (URP) and A New and United Guyana (ANUG). URP Leader Dr. Vishnu Bandhu and ...

by Samuel Sukhnandan Government has engaged some of its main development partners including the Indian Government, the Inter-American Development Bank (IDB) and the Caribbean Development Bank (CBD) on several key projects that have been in the pipeline for many years, but never came to fruition. Public Works Minister Mr Juan Edghill said during discussions, the government conveyed its desire to have the ...