The Production Sharing Agreement (PSA) with ExxonMobil is generous to the investor and a series of loopholes exist, such as the treatment of interest expense, which could be abused and further limit benefits to Guyana.
These are some of the findings of an expert team from the Fiscal Affairs Department (FAD) of the International Monetary Fund (IMF) which undertook a mission at the request of Minister of Finance, Winston Jordan. It doesn’t state the date of the request but the team was here from July 10-21, 2017.
A report dated November 2017 was submitted to the government but has not been released to the public. The Sunday Stabroek has seen a copy of it.
