Jagdeo calls for swift naming of new GuySuCo board

-flays debt ceiling hike

Opposition Leader Bharrat Jagdeo has called for the swift naming of a Board for the Guyana Sugar Corporation even as he questioned how the $30B sourced for the corporation’s revitalization is being spent.

“Appoint the board, that is my advice,” Jagdeo urged the government yesterday.

He also bemoaned government’s recent $50B loan hike ceiling saying that not only was it now tied to GuySuCo’s $30B but that it signals future increased borrowings and those plans are troubling.

Signaling intense scrutiny of the $30B bond taken for GuySuCo, Jagdeo said that the corporation needs an accountability body more so now given the significant revenues borrowed.

“We heard they collected an advance, we don’t know how it is being spent, we don’t know what assets are being used to collateralize it, we don’t know what the backroom negotiations were so we have huge problems with this one,” he said…..

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