It is imperative that the Caribbean Court of Justice hears the appeal of the no confidence decision within at least two weeks, economist and politician, Peter Ramsaroop has opined.
Ramsaroop, in a statement on the situation, said that political and economic indicators show that current political uncertainty within the country will continue to stagnate the economy at a time when key infrastructure and policy decisions are necessary for debate and implementation, as the nation is readied for increased growth.
“This uncertainty is affecting (the) increase in working capital for both local and foreign investments.
The loss of thousands of jobs over the last four years have impacted many local businesses as disposable income needed for certain sectors were greatly affected. Our economics is just not about oil but major transformative industries changes as proposed by the PPP,” he stated.
“The leading private sector (organisation) has said two out of three business are being affected by the political uncertainty. From a political viewpoint, our legislative branch is non-existent and Government is operating without a legal mandate and even though the appeal court [ruled], it does not give them legitimacy until the final ruling. I strongly believe the citizens are feeling the pressure as business[es] hold off on future investment and the burdensome policies of Government take a toll,” he stated further.
Ramsaroop said that a key change in the nation will see transport economics coming into play, such as in the cases of the deep water harbour and Guyana-Brazil road being implemented.
