Minister of Finance Dr. Ashni Singh on Monday insisted that the Government of Guyana would not have been incurring a single dollar of debt from the Amaila Falls Hydroelectric project and said that the loans guarantee sought in Parliament protects against a default by GPL.
This statement was in response to a letter by Kenrick Hunte entitled ‘Who owns the debt in Amaila’ which appeared in the Sunday Stabroek of August 19, 2013. The letter said that the Government of Guyana in approaching Parliament to increase the debt ceiling amounts to Guyana borrowing the debt.
Hunte said in the letter that the rationale for political and financial guarantees for the project is based on the fact that GPL is currently not a financially viable company that can generate large cash-flows sufficient to pay in full and on time its debts to Amaila. “Evidence suggests that
