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.
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.
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.
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.
Collection entity For a government to carry out its work or execute the policies that it has adopted for the management of the country, it needs money.
Open mind There is something about the Amaila Falls Hydropower project that haunts this writer.
Replacement Some 33 years ago, global politics and economics combined to force Guyana into searching for a replacement for wheat flour.
Jitters There are jitters about the Guyana economy and some observers have moved towards the view that the economy is in recession.
Endowed It is understood that Guyana has been encouraged to become a part of the Extractive Industry Transparency Initiative (EITI).
Submersible The change of government and the aggression shown by Venezuela towards Guyana have brought the PetroCaribe energy agreement into sharp focus.
Historic institution GuySuCo is now the subject of inquiry, which inquiry, among other things, aims to determine if the company could be saved.
(Conclusion) Less tension Member countries of the International Monetary Fund (IMF) are required to avoid the use of restrictive practices that interfere with or undermine international trade.
Most feared Every time one reads about the economic crisis in Greece, one cannot help thinking of how the world has changed.
The word forensic Over the past month or so, Guyanese have heard the words forensic auditing come into frequent use in relation to the activities of the past government.
No-nonsense programme When a country runs into financial trouble, it turns to the IMF for help, and depending on its level of development and financial health, the IMF gives it a structural adjustment programme to suit.