The University of Guyana (UG) recently received $500 million from government to pay off its debts but a delay in the release of the money cause the university to rack up $150 million in additional debt.
This is according to Vice Chancellor (VC) Jacob Opadeyi who told Stabroek News that government released the money to the university about two weeks ago. He said the money has gone towards servicing payments to the Guyana Revenue Authority (GRA) and the National Insurance Scheme (NIS) for amounts they were owed.
Opadeyi became aware of the true size of the university’s debt following an audit carried out by University of the
