I hope the Green Paper on the proposed Sovereign Wealth Fund (SWF) is a work in progress.
Professor Clive Thomas stimulated much discussion last week when he proposed the idea of a US$5000 per year cash transfer to Guyanese families.
I was planning to write this week about the recent parliamentary debates over the role of the Bank of Guyana in the financial system and foreign exchange market.
Guyanese on social media were euphoric last week when it was announced that the country now has at least 4 billion barrels of recoverable reserves.
In the previous column on the topic of the “trade war,” I outlined some of the consensus views regarding the potential impact.
President Trump and his ultra-rich government have crudely appropriated some old ideas from progressive development economists.
The previous column showed that both the Bank of Guyana and the commercial banks need foreign currency assets.
The main monetary policy target of the country’s central bank, Bank of Guyana, is the exchange rate.
Economists think of technology as knowledge of the production process of a firm or industry.
Next week I am presenting a paper at the first entrepreneurship conference to be hosted by the School of Entrepreneurship and Business Innovation, University of Guyana.
Initially it was announced that Guyana will borrow US$900 million credit from the Islamic Development Bank (IsDB).
Part 7 We explored the idea of the resource curse in six previous columns before analysing the cost aspects of the oil and gas contract.
By now many Guyanese would have heard about the 14.25% effective royalty, which combines the 2% actual royalty enshrined in the contract, the 50-50% profit share and the 75% cost-recovery cap.
The previous column critically analysed the cost components of the production sharing agreement with ExxonMobil.
The previous six columns asked the question whether Guyana could escape the natural resource curse.
Part 6 The previous column explored how the lack of economic research capacity might have contributed to the lopsided contract in favour of ExxonMobil.
Making predictions in a complex and non-linear world often involves identifying initial conditions and then sequentially reasoning (or solving) forward.
In the previous column we explored the possibility of Guyana becoming a petro state overnight.
The second part in this series addressed the question of how much money Guyana will likely receive.
Part 2 The role of corporate governance The previous essay established the developmental context under which we address the essential question of this series: could Guyana escape the natural resource curse?
By now many Guyanese are pondering the important concept known as the natural resource curse.
My intention was to write this week about whether Guyana can evade the resource curse, which is often associated with oil and natural resource extraction.
We noted last week that the Consolidated Fund (CF), which has been a standard part of the budget estimates, was not reported for the 2018 budget.
We noted last week that the budget provides a glimpse that the government is starting to think about a coherent development strategy.
The 2018 national budget outlines snippets of a broader economic vision, the Green State Development Strategy (GSDS), which somewhat underpins this budget and will likely do so for future APNU+AFC budgets.
Sizable quantity One of the things that we notice from trade data provided by the World Trade Organization (WTO) is the dominance of manufactured goods in total merchandise trade in generating income for exporting countries.
Flurry of activities There continues to be a flurry of activity and plenty conversation about oil and gas in Guyana.
Diversity of service With November being the month in which Caribbean countries were asked to celebrate tourism, this writer was encouraged to explore the subject of tourism further, particularly as it pertained to Guyana.
General overview More often than not when one thinks about a tourist area, blue waters, white sandy beaches and surf boards are things that come to mind.
Recap October’s focus has been on shedding light on the concept of competition.
Part 3 Overview For the past two weeks, the articles have been focused on the issue of competition.
Competitiveness in industries Last week’s article identified some of the characteristics of competition and the role that it plays in making an economy better.
Light on competition Almost every set of recommendations for improving the economy of developing countries contains references to competition.
Chatter There has been much chatter surrounding the establishment of a Sovereign Wealth Fund (SWF) in Guyana.
Extreme damage The extreme damage and swath of devastation that have occurred over the past weeks have left many wondering as to what is really happening with global warming and climate change.
Routine Sometimes people do not think of things that they see or do, especially when the occurrence becomes routine.
Stages of development Reflecting on Rostow’s stages of economic growth, one realizes that economic development starts with agriculture.
Dominant Recall from last week’s article, the overall situation of the commercial banks can be regarded as satisfactory despite the distortions in the foreign exchange market earlier in the year.
Part 1 Decline in profits The Guyana Bank for Trade & Industry (GBTI) has reported its half-year profits for the year 2017.
Preventing measures Last week’s discussion of local content around Guyana’s oil industry established two key points based on current talks on the matter.
Noise around local content Guyanese have been clamouring for local content provisions in their relationship with ExxonMobil since it became obvious that oil production will be undertaken by the multinational oil giant.
Any and everything Almost every conversation about sustainable development or climate change gravitates towards energy.
Small Guyana is developing the Green State Development Strategy (GSDS) to promote the development of the country.
Complex makeup Many Guyanese have heard the adage “Show me your company and I’ll tell you who you are”.
Alarm In more recent times, there has been much discussion and expression of alarm about Guyana’s manufacturing sector.
A novelty From the look of things, almost everyone in Guyana is preoccupied with the events in the emerging oil and gas industry in the country.
An indication As indicated in last week’s article, one can take a look at the current account and understand many things that affect our economy.
Part 1 Level of savings When one looks at the current account balance in the country’s balance of payments, the concern might be about the deficit that emerges annually and the amount of foreign currency that seems to be leaving the country.