-Jagdeo tells UN General Assembly
President Bharrat Jagdeo yesterday told the UN that vulnerable economies like Guyana will suffer from the crisis gripping financial markets and he assailed the EU over its proposed trade pact which this country has opposed and lobbied for climate change help.
Bharrat Jagdeo
Addressing the 63rd Session of the United Nations General Assembly in New York, Jagdeo said the troubles in the global financial markets will result in the loss of thousands of jobs worldwide and this will exacerbate the already flagging business and consumer confidence.
“Even if they are not fully integrated with the global financial system, small vulnerable economies such as Guyana will bear the full effect of these developments as demand for exports tightens, the cost of capital rises, foreign direct investment becomes scarce, and tourist arrivals and migrant remittances decline. In short, economic growth and poverty reduction efforts will suffer a severe setback and the Millennium Development Goals will become even more elusive”, he declared.
Noting the challenge posed to food security from price increases such as for oil – 148% this year alone – Jagdeo said that the international community must recognize the vital link between agricultural development and food security. And while there is a recognized comparative advantage for agriculture in relation to poverty reduction strategies, Jagdeo lamented that there had been a decline over the years in official development assistance (ODA) for the agricultural sector and rural development. He pointed out that the share of agriculture in ODA dropped from 17% in 1980 to 2.9% in 2006.
Citing the 2007 World Development Report which showed that growth generated by agriculture can be four times more effective in lowering poverty that growth from other sectors, Jagdeo argued that agriculture must be given a higher priority in national budgets as well.
“It is also urgently necessary for large developed countries to re-examine ways in which current inefficient and distortionary trade policies, particularly subsidies that support inefficient domestic production and tariffs that protect against more competitive imports, can be restructured to reduce distortions in the global marketplace”, Jagdeo contended.
The President also took the opportunity to raise the row that Guyana has with the European Commission (EC) over the signing of the controversial Economic Partnership Agreement (EPA) between the EU and CARIFORUM.
He charged that the agreement “may fundamentally affect development in our societies and jeopardize our future negotiating positions at the WTO”.
Jagdeo lamented that the “exploitation of the EU’s superior negotiating strength and the use of threats to get countries to sign are ironically how the EU hopes to start” the EPA partnership.
“Even at this late hour I wish to plead with the EU leaders to review these agreements before they irretrievably harm the good historic relations that have existed between the ACP and the EU”, he pleaded. Guyana and Haiti are the only two Caricom countries that are not prepared to sign the EPA.
Jagdeo also lobbied for recognition of the value of standing forests in the climate change battle. Pointing out that there is virtually no capital flowing to address tropical deforestation despite its 20% contribution to greenhouse gas emissions, Jagdeo said that negotiators must be set a clear direction for movement towards a post-Kyoto climate change agreement.
“Specifically, those of us who are leaders of rainforest countries need to understand that we provide services that are vital to the health of our planet, and that when we seek capital flows to compensate for this, we are not merely acting as passive poor countries looking for aid. We are providing a critical component of the climate solution, and we should be leading the design of mechanisms as we forge a post-Kyoto climate agreement”, Jagdeo posited. Jagdeo has proposed that nearly all of Guyana’s forests be deployed in the fight against climate change and the UK is intended to play a lead role in championing this cause.
The President also called for a reform of international institutions such as the World Bank and the United Nations.
george good comments,lots of us blame those gov in the so called third world but their is moore to the mantle.
Sagga – for the record I was once an investor to this country, my parents are born Guyanese but it doesn’t takes a rocket scientist to figure out what is happening to this country, hence the key issue is big and bold living amongst the Guyanese people. It’s not about who you support what you like or dislike the fact remains Guyanese was and still being driven into poverty and corruption. Remembered when Mr. Walcott said at Carefista X that his native land was prostituted to foreign investor hidden under the so call term Development. Same is happening to Guyana, Government comes and goes but they keep prostituting there own. The question is who have the country interest at heart? And who have there pockets at heart?
….urbross.!!………..please don’t spend time educating sagga………back away from who ever he/she is……..let us look at putting a law in place so the at no time two poor people should get married in guyana………..this has been happening for a long time……..and we must lift our voices on this problem………..
With all due respect i am not convince that HE is properly informed as it relates to the global issues he is trying to address. The economics of rising food price and global warming are very complicated and careful thought must be given when discussing these issues….if not u sound very amatuer…. THE NEW WORLD ECONOMICS IS BASED ON SHARE SPECULATIONS..NOT DEMAND AND SUPPLY ….Plus… the developed countries known how there actions affect the developing countries…
That day will never come for Jagdeo to walk in Burnham shoe.
Burnham was a President with vision.
He was admired by those around the world.
Jagdeo said he can do better at his out reach speeches during election.
What has he achieved since?
More crime, VAT killing the poor man, contracts given to whom?, no improvement on hospital, no improvement on the roads due to poor contractors -bridges collapse
Children died in pit latrine, school not started on time and I can go on and on.
on september 24th, 2008
the time is now right for sivil rights and economic change.
signing of the E P A, will be good guyana.
some economic setback is ovious, but things will get better for the
people in guyana, but the goverment as to think of the poor people,
the vat have to be a little lest ,so that the poor class of people don,t
suffer. by setting op cheaper shop,s so that people who do not
have enough money, could buy thing,s they nead.
i am liveing in the highest tax paying country in the world, and that
country is the NEDERLAND. BUT IN EVERY PLACE THAT PEOPLE
LIVE, THEY COULD BUY WHAT THEY NEAD, WITH WHAT LITTLE
MONEY THEY HAVE, AND VERY GOOD STUFF, guyana as the
chance of getting better, we all so nead a bigger airport so people
could come with bigger plane,s t o guyana,
tax is important in guyana, but the people nead to get a better sallarie
for the work they do.
signing of the EPA , WILL BE VERY GOOD FOR GUYANA,
MY PRESIDENT, I KNOW YOU HAD TO THINK FIRST BEFORE YOU
SIGN. GUYANA .
The people of Guyana are to blame for its ongoing morass, not the government. Because it is the people who keep choosing partisan governments EVERY BLESSED TIME.
Do we really care about our country? We come here to check up on the news so maybe we do care. Maybe. A little. But if you want to strengthen something, wouldn’t you start with its weakest link? What would you say is Guyana’s weakest link?
I don’t have the answers, guys. Perhaps nobody does. But I think it’s time we start asking the right questions. Because as far as I am concerned, the only thing Guyana truly lacks is an excuse.
Amid the haste and chaos ,, of the minds who here have expressed such,, i am abt to lengthen this thread with an infusion of sober thought ,,
“GLOBAL finance crisis to hit countries like GUYANA “!
Archimedes ,, some 2000 + years past said he ” would move the world ,, if anyone can find a place for him to stand on “– for malaika ,, and fox -all — he was ,,– when he said any one –,, being open to the inclusion of all in his thoery ,, of using the ” fulcrum ”
the caption — “global finance crisis ,, to hit countries like guyana ” –,, made me think of Archimedes ,, since from the caption to which i’m addressing ,, i did not know that we are no longer part of the GLOBE !…
who helped Archimedes ,, or used his theory that has long been in practise ,,since then ,, to perform many herculean tasks made simple and effortless by use of the FULCRUN ! if GY ,, was/is no longer part of the global scene and prompted the caption ,, then would someone plz ,,tell me !……………
In the least ,the vat should be REDUCED.The revenue collected exceeded the projected estimate by 75%.Who calculated the tax rate. What a fertile ground for for dishonesty.What percentage was not collected but not paid over to the tax collectors?
Dear SN ,,
i have this very urgent question to ask ,,,,,,,
Do you act on the directive of the PPP or the GOVT — albeit them being one and same — to ,, “axe” my post ,, or do u do it to protect u and i ??????
cos i read two comments who are in support of the idea ,, to not bring the lines to the coast ,, and then like mandrake they have been relegated to the choppers block ,, and disappeared ,, or u killed the theory ,, since if they do not bring the lines to the coast ,, u will have to relocate ,, ???
drumup-change –
“…law against poor people getting married!!!!!!!!!!!!
Sounds like a Goebbels in the making