Development Watch 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.