Does the manufacturing sector have an identity crisis?
Neutral Language The Bank of Guyana reported in its half-year report for 2009 that the performance of the manufacturing sector was stable during the first half of the year. I think that the Bank of Guyana was correct to use neutral language in describing the performance of the manufacturing sector during the first half of [...]
Too inefficient to compete
By Rawle Lucas Rawle Lucas is a Guyanese-born Certified Public Accountant and Assistant Vice-President of the Lending Services Division. Mr. Lucas has agreed to serve as a columnist with the Stabroek Business and will be contributing articles on economic, financial and development matters. Roadmap Guyana is expected to spend about US$27 million over the [...]
A realignment of the stars
Glimmer of Hope In a few days, the fiscal year for many financial institutions in Guyana will come to an end. As these institutions tally up their revenues and expenses to determine how well or how badly they did, a glimmer of hope peeks out from behind the cloud of despair that, one year ago, [...]
Milking the cash cow
By Rawle Lucas Rawle Lucas is a Guyanese-born Certified Public Accountant and Assistant Vice-President of the Lending Services Division. Mr. Lucas has agreed to serve as a columnist with the Stabroek Business and will be contributing articles on economic, financial and development matters. Perfunctory Act It does not seem to bother the decision-makers of Guyana [...]
A double-edged sword
Decline in Dollar Reports emanating from the global financial circles on Wednesday September 9, 2009 revealed that the value of the US dollar had fallen against the currencies of its major economic partners. The significant decline in the value of the US dollar was not seen since the financial crisis reached dangerous proportions last year. [...]
An imposing obstacle to economic progress
Amidst the good news about the first quarter performance of the economy, there are still concerns that are likely to dissuade potential investors and entrepreneurs from proceeding with haste to invest in Guyana. The bad news reposes not just in the embarrassing events that are unfolding in a courtroom in New York, alleging links between [...]
Trading summer days for winter nights
Under Attack Sometime soon the members of the Caribbean Community and Common Market (CARICOM) will commence talks in earnest with Canada on the establishment of a Free Trade Agreement to govern trade and economic relations between the two sides. Trade between CARICOM states and Canada currently takes place within the framework of the CARIBCAN arrangement. [...]
Can the ‘’Trade Point” truly deliver economic change?
Facilitator of Trade Nearly 17 years after the Trade Point programme was launched, Guyana expects to have its first trade point centre in December 2009. Seen as a source of important trade and trade-related information, the trade point being established in Guyana is expected to serve as a facilitator of trade between the drivers of [...]
Rupturing an old friendship
The contrast is stark. Guyana covers a geographic space of 83,000 sq. miles as against the 166 sq. miles accounted for by Barbados. That makes Guyana 500 times larger than Barbados. Guyana has a population of nearly 760,000 people in comparison to the estimated 290,000 people living on the island of Barbados. That makes it [...]
Lost in the Wilderness
Unpleasant Truth In the global scheme of things, Guyana is not the first choice of most as a place of relaxation or pleasure, even though some aspects of social life, including the pockets of ebullient night life, would make some Guyanese argue differently. In reality though, Guyana is regarded as one of those countries not [...]
Impact of the self-employed on NIS
Impasse The list of transgressions is short but appears to be impervious. It includes collusion between employers and employees to withhold contributions from the National Insurance Scheme (NIS). It includes an increase in the practice of employers in designating workers under their supervision and control as self-employed persons. Among the insidious practices are the unwillingness [...]
NIS could do with a warm embrace
Rawle Lucas is a Guyanese-born Certified Public Accountant and Assistant Vice-President of the Lending Services Division. Mr Lucas has agreed to serve as a columnist with the Stabroek Business and will be contributing articles on economic, financial and development matters. Gift of Longevity About five months from now, the National Insurance Scheme (NIS) will celebrate [...]
Confronting the challenging times
Rawle Lucas is a Guyanese-born Certified Public Accountant and Assistant Vice President of the Lending Services Division. Mr. Lucas has agreed to serve as a columnist with the Stabroek Business and will be contributing articles on economic, financial and development matters. Retailers One Tuesday, as the rain came pouring down suddenly in a display of [...]
Protecting a wounded company (Part 2)
Rawle Lucas is a Guyanese-born Certified Public Accountant and Assistant Vice-President of the Lending Services Division. Mr Lucas has agreed to serve as a columnist with the Stabroek Business and will be contributing articles on economic, financial and development matters. Legal Stew The problems of Clico (Guyana) became public the moment that the officials of [...]