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 crucial issue of constitutional reform (CR) is once again being discussed by several notable commentators and individuals in civil society.
The Minister of Finance made it clear that a reduction in the VAT rate would require that the list of taxable items be expanded.
The previous five columns explored several recent developments in the foreign exchange market.
Mr Jagdeo has been blamed recently by government officials and supporters alike for instigating a capital strike.
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.
Last week the Private Sector Commission (PSC) urged the government to increase its spending to stimulate the needed aggregate demand to sustain business activity.
In recent months several international commentators have called for central banks in emerging market economies to hold a higher percentage of gold as part of foreign exchange (FX) reserves.
I was going to write this week about whether the Bank of Guyana should take up the role of the Guyana Gold Board by purchasing gold from local miners.
Gary Becker, the economist, established the benchmark model for studying crime from an economic perspective.
The previous two essays in this series express the point that government officials have an inherent incentive to renege on promises of good governance once they attain power.
Recently the Stabroek News (Feb 28, 2016) reported President Granger saying: “I have no interest in having an unprofessional Public Service… I also said that I did not just want an efficient public service but an ‘unbribable’ public service; professional people, people who can do their trade and people who are prepared to do their jobs without fear or favour.” It is good to hear a Guyanese Head of State finally making such a comment.
One of the themes of Development Watch has been the constant call for building up the capacity of the State to implement economic development plans since private markets alone cannot achieve this transformation in an economy such as Guyana.
Unfortunately Guyana has the dubious distinction of having the highest rate of suicide in the world.
Part 2 The previous column argues that old-fashioned textbook Keynesian macroeconomics, in terms of budget stimulus, will not be very effective in a country like Guyana that exports most of what it produces and imports a large percentage of what it consumes.
Before budget day 2016 there had been several calls for boosting government spending to stimulate the economy for the purpose of job creation.
There has been a series of opinions for and against the closure of the Wales Sugar Estate.
The PPP once declared the forests are Guyana’s most important resource. That party then pivoted on crude oil, even while pursuing its amorphous Low Carbon Development Strategy.
As I read the history of Guyana, one of the points emanating from scholars of previous generations is the uncompetitive nature of sugar production in British Guiana.
Previous Development Watch columns made the point that the heavy handed and non-transparent manner in which the PPP went about governance often magnified the perceptions of corruption.
The previous column makes the point that perceived or actual marginalization results from the political process which is bedevilled by ethnically skewed voting patterns.
Recently the PPP accused the APNU+AFC government of ethnic cleansing. The term ethnic cleansing was made popular by the PNC in the mid-1990s and former president Desmond Hoyte actually used the term in a letter to Stabroek News in 1996.
In 2008 I wrote a letter to the press that was facetiously titled `The new science of jumbienomics.’ In spite of its title, the letter raised several inconsistencies in policies of the Jagdeo Administration.
This is the season of funny debates. There is talk among observers and politicians that Guyana is either in recession or about to enter into one.
There appears to be a dispute over the size of the deposit the coalition government plans to withdraw from the commercial banks to be quarantined into the Consolidated Funds.
I have discovered something stunning while interacting with several PPP supporters and activists.
A few days ago I bumped into Mr. Robert Badal who is a well-known Guyanese investor and capitalist.
The new government will face numerous challenges. The cash flow insolvency of GuySuCo and the looming crisis in the rice belt will keep the President and the Minister of Agriculture up at nights.
Given the betrayal of 1992, I would like to think that the May 11 General Election is the most momentous election since 1953.
On the one hand, the PPP attracted several folks with good multi-ethnic credentials.
The PPP has just unveiled its manifesto, days before the election, while the main opposition alliance is yet to do same.
The next government will be faced with the task of running a difficult country with a terrible history.
This election is turning out to be the most divisive since 1992 in terms of racial mobilization.
A recent letter by Ms. Ryhaan Shah sparked a series of responses in the letter columns, causing it to be juxtaposed with another letter by the bright young economics student, Saieed Khalil.
Home ownership is the main pillar of the PPP’s development strategy. From the beginning it was pursued more for its political returns than economic merit.
It is true in a country like Guyana people are concerned with the daily struggles of life.
It was reported last week that the government holding company National Industrial and Commercial Investments Limited (NICIL) injected a further US$16 million into the Marriott project.
There is a lot of speculation taking place with respect to the likely voting behaviour of the population for the upcoming May 11 General Election.
It was reported last week that Mr Robert Persaud proposed the high cost of energy as the key constraint preventing the development of manufacturing in Guyana.
Part 2 By Tarron Khemraj Introduction Part 1 of this essay argued that the main motivation driving private investments under the Jagdeo-Ramotar dispensation is the desire to use political power for the purpose of expropriating economic and investment opportunities for associates of the ruling party.
Former President Jagdeo has carved out his own method of promoting private enterprise.
The 2012 preliminary census report – already two years late – is probably more famous for what it conceals than what it reveals.