Finance Minster Dr. Ashni Singh has demonstrated a “misunderstanding” of the operation of the Consolidated Fund, according to Carl Greenidge, who says government is legally bound to account for payouts of proceeds from two Inter-American Development Bank (IDB) loans, totaling US$32 million, which were recently deposited into the fund.
Greenidge in March filed writs in the High Court seeking declarations that the proceeds of the two loans, a US$15 million security loan and a US$17.1 million environmental loan, must be paid into the Consolidated Fund of Guyana and that there must be no withdrawal of these proceeds except by appropriation under Article 217 of the Constitution.
He also asked for a declaration that Singh cannot lawfully spend the monies from the loans unless authorized by the National Assembly. And in addition to a conservatory order to prevent access to the funds, he has also sought an order that the minister or any
