Criticism The international community is grappling with the issue of properly measuring the wealth of countries in a comprehensive way.
Global economic system The issue of global warming and sustainable development can no longer be a matter of passing interest.
Complex technology When someone examines global trade statistics, one thing that jumps out at the reader is the difference in export revenues between primary commodities and manufactured goods.
Combined efforts Having seen what has happened over the years to many economies of oil-producing countries, the thought has crossed the minds of many Guyanese as to what oil will do to this country.
LUCAS STOCK INDEX The Lucas Stock Index (LSI) edged up 0.16 percent during the final period of trading in July 2016.
No one knows Imagine talking to a friend on the phone while thousands of dollars are pressed to your ears and no one knows it.
Part 1 Political condition There has been much speculation about the Guyana economy over the last year or so.
Conclusion Widespread The examination of Massy and its performance in 2015 began last week.
Steadfast Last year, this writer looked at the Massy Group of Companies formerly Neal and Massy to gain an understanding of the operations of this company which has been doing business in Guyana for the past 48 years.
Projected growth The World Bank has revised its projections for the global economy for 2016.
Conclusion Sustainable and harmonious planet In the previous two articles, the 17 SDGs were identified and the importance of addressing the issue of poverty was highlighted.
Higher knowledge In the column of last week, the 17 goals for sustainable development were identified.
Part 1 Tall order Eight months ago on September 25, 2015, the United Nations General Assembly adopted resolution A/Res/70/1 which deals with the development agenda for a 15-year period.
Trend in money supply As Guyana celebrates its Golden Jubilee, it is perhaps good to talk about something that is on their minds.
Financial wilderness Guyanese farmers continue to lament the lack of adequate access to commercial financing for their agricultural activities.
Global demand The world is bombarded with claims of free trade and its virtues.
Controlled circumstances Guyana is one of 193 member states of the United Nations.
Missed opportunity The Guyana economy grew by an average of 5 percent over the last seven years but questions remain about the distribution of the wealth.
Market focus In the last article, an assessment was made of the comparative size of four commercial banks in Guyana and their growth performance.
Focus There are six commercial banks in Guyana competing for the business of banking consumers.
(Conclusion) Due diligence In the first part of this article, an effort was made to discuss some of the things that often lead to charges of non-compliance with globally accepted anti-money laundering and countering the financing of terrorism standards.
Economic black hole The amount of work that Guyana has to do to clean up itself against domestic and international charges of corruption is phenomenal, and it is not going to be easy.
Conclusion Never easy Given the experience and frustrations over the years, many in the Caribbean are surprised that Caricom was able to see 43 years and seemed poised to, and capable of, reaching its golden jubilee in seven years.
Confidence This article is intended to share this writer’s understanding of the Caricom Single Market and Economy (CSME) and to begin the process of considering how it could be made to work better for Guyana.
Dangerous driving While restricting minibuses to what in effect are regional routes results in a differentiated market, it does not necessarily result in a differentiated service.
Part 3 Movement of people and goods The previous sections of this article have sought to show that the road transport market is multidimensional and carries different risks for each income-generating sector of the market.
Varying specializations Last week, the process of this writer trying to understand the transport industry in Guyana began.
World of transportation This article is an attempt to unravel the complex world of the transportation service in Guyana.
Movement of money One of the most important aspects of the global political economy is the finance structure.
Contribution In last week’s column, it was noted that small businesses make up a substantial part of the Guyana economy.
Contribution While small businesses may not generate as much money as large corporations, they are a critical component of, and a major contributor to, the strength of local economies.
New board As many Guyanese would be aware, a new governing board of the Guyana Revenue Authority (GRA) was established in June of last year to execute the mandates expressed in Section 12 of the Revenue Authority Act regarding the approval of policy, monitoring of the performance of the GRA and the discipline and control of the staff.
Minimum role Over the past three weeks, this writer looked at the challenges of revenue collection in Guyana.
(Conclusion) Properly and effectively In the second part of this article, this writer observed that revenue collection was not at its optimal position.
Functions The tax structure is used to collect the revenues that the government utilizes in its programmes, and is a function of the historical experience of the country.
Not simple The revenue challenge facing the new administration is not a simple one.
Important structure One of the most important structures in international affairs is the finance structure.
Reasons for trade deficit As was noted in the first part of this article, trade remains a very important element of the Guyana economy.
On the 26th of May 2015, President David Granger said “Our diplomats must open more markets”.
Resource gap The Bank of Guyana has been reporting for some time now on what it refers to as the resource gap.
Public affairs The government is responsible for several enterprises that are classified in the public accounts as public corporations.
Constant trade deficit Guyana, like several other countries, runs a constant trade deficit.
Public Outcry Ever since it was discovered that the new administration had increased the salaries of its ministers and parliamentarians, there has been a public outcry and groundswell of criticism for taking the action.
Early concerns The early concerns that the Guyana economy has slowed down and that the growth for 2015 would at best be sluggish remain valid even after a round of salary increases.
Wide-ranging powers The National Industrial and Commercial Investments Limited (NICIL) was formed in July 1990.
Decree On May 26, 2015, the Government of Venezuela issued Decree 1787 which purported to annexe the territorial waters of Guyana off of Guyana’s Essequibo coast.
Controversy The experience with the Berbice River Bridge and its relationship with the investment made by the government seem to make people leery about using the public-private partnership investment model in the construction of projects in the future.
Complicated In a process complicated by the prorogation of parliament and the holding of elections after the mandatory budget approval period had passed, the Granger administration had to put together a budget for 2015.
Concern The concern over the deal on the Berbice River Bridge is not only about the level of the investment made by the government vis-à-vis the private sector, but also about the mode of the investment.
Illicit activities The recent disclosure in local print and online media that gold was being smuggled out of Guyana in significant quantities is a blow to the integrity of Guyana’s revenue collection system and an apparent indictment of all aspects of port security ‒ land, sea and air.