Why Guyana dodged the 2007-08 financial crisis?

Third year social work students of the University of Guyana recently concluded a six-week attachment at the David Rose Community Centre; a youth friendly space that falls under the Ministry of Culture, Youth and Sport. During the six-week programme, children were involved in art and craft; life skills; literacy; numeracy and conflict resolution skills. This activity was a requirement for a course completion which entailed weekly eight-hour tutoring in Advance Social Practice. In this photo, some of the UG students pose with children who took part in the programme.

Part 2

Introduction

As noted in the previous article, the purpose of this series of columns is to explain why widespread contagion in the Guyana financial system did not follow the global financial crisis, which was precipitated by the US subprime meltdown. The World Bank and IDB noted, without much empirical evidence, that Guyana would have been adversely affected by a slowdown of remittance inflows. The task of this essay is to go beyond the