The Government of Guyana is now able to stand as guarantor for loans secured by any public corporation up to and including $50 billion.
Just after 10 pm on Friday and in the face of objections from the opposition People Progressive Party/Civic (PPP/C) a motion to this effect was passed in Parliament by the APNU+AFC majority.
In presenting the motion, Minister of Finance Winston Jordan noted that in light of government’s impending guarantee of a $30 billion syndicated bond for the Guyana Sugar Corporation (GuySuCo) “it has become urgent” that government is able to stand guarantor.
