News coming out of Guyana over the past two and a half years point out that money is not being circulated, the expression often used by the man and woman on the street to describe their economic feelings.
The previous five columns explored several recent developments in the foreign exchange market. They explained that the present depreciation of the exchange rate cannot be separated from common economic events – that show up in the aggregate economic statistics – affecting peoples’ lives on a daily basis.
Mr Jagdeo has been blamed recently by government officials and supporters alike for instigating a capital strike. The argument goes that Mr Jagdeo has immense powers in the private sector such that his business associates and friends have curtailed their investment since the new government came into power in 2015.
The supposed decline in the narco economy since APNU+AFC came to power in 2015 is often proposed by two very vocal members of SOCU – Mr Eric Phillips and Mr Tacuma Ogunseye – as the main factor for the depreciation of the Guyana dollar.
Anyone following my columns and letters in the last 10 years would know that I am strongly in favour of a middle group of voters who will swing their votes willingly as a disciplining mechanism of the entrenched political class.