Unique way In what could be a unique way to focus attention on the issue of poverty and how it could be tackled, the World Bank in its World Development Report 2014 points to the need for risk management by all economic units in an economy.
Youngest Demerara Bank Limited (DBL) is one of the youngest commercial banks in Guyana.
Leadership The Guyana Bank for Trade and Industry (GBTI) is the second largest bank in Guyana with about 25 percent of the deposits, a market capitalization of $25 billion and assets to the tune of $95 billion or 28 percent of the assets under the control of the commercial banks.
Smallest In a market of diverse ownership, Citizens Bank is one of three commercial banks that have majority Guyanese ownership.
Largest Companies Republic Bank (Guyana) is by far one of the largest companies in Guyana by any measure.
Forty-seven years ago this month Martin Luther King Jr. uttered the words: “We are now faced with the fact, my friends, that tomorrow is today.
Grief and anguish The budget debate might be over but not the grief and anguish of the Guyanese people.
Barely moved Despite a major decline in the amount by which gross national disposable income (GNDI) increased last year as revealed in the 2014 budget statistics, the government expects the economy to grow by 5.6 per cent this year.
Centerpiece The anticipations of the 2014 budget are over. The Minister of Finance delivered the intention of the government to create a better Guyana for all Guyanese that carries a financial tag of $220 billion.
Anniversary This year will mark the 25th anniversary of the passage of the Dealers in Foreign Currency (Licensing) Act, and there is clear evidence that the market has undergone significant change over the intervening period.
Plight of vulnerable This would be the final article on anticipations of the 2014 budget.
Law and order Irrespective of the political system, there is general agreement that the safety and security of people are the responsibility of governments.
Major thrust A major thrust of this administration has been to invest in the physical infrastructure of the country.
Further cuts Budgeting for education ought to be a simple task for the administration.
Commitment to hygiene According to the World Health Organization (WHO), sanitation is about the provision of facilities and services for the safe disposal of human waste.
Budget season There are 49 days left within which the 2014 budget must be presented to parliament.
Introduction On January 28 last, a meeting was held in Linden that could be considered the continuation of a process that started last year to rebuild the region’s economy.
Change in structure A particularly interesting feature of the Guyana economy is the growth that it has exhibited over the last several years.
Business focus A new year has begun and many businesses are getting in stride with implementation of the plans that they would have developed for execution in the unfolding operating period.
Build not destroy From reading the letters and stories in the daily papers in Guyana, it is obvious that Guyanese have entered the year 2014 with a new resolve to make things better for themselves.
Green-colored currency It is the season when money matters and as Christmas draws near Guyanese will spend plenty of it.
Part 2 Customer behaviour As was noted in Part 1 of this article, the management of DDL is in control of the economic resources of the company and has little to fear from shareholder activism.
(Part 1) By Rawle Lucas Leadership change The company that has the ship as its logo is about to sail into a new era.
Impasse The impasse over the amendments to the 2009 Anti-money Laundering and Financing of Terrorism Act is a perplexing one.
Missed opportunities For some time now Guyana has been using the public-private partnership (PPP) to invest in the creation of several public goods.
Continued from last week Asymmetry of information The proposed regulatory changes identified in the previous part of this article reflect several deficiencies in the form and substance of reports.
(Part 1) Choice of Theme Last week the Institute of Chartered Accountants of Guyana held its annual conference under the theme “Focus on Financial Services”.
Unmistakable The draft Anti-Money Laundering Bill has replaced the Bill on Amaila Falls as the talk of the town.
Principal Owner Property Holdings Inc is a company that was incorporated on October 5, 1999 for the specific purpose of managing or disposing of property owned by Guyana Stores Limited (GSL).
Self reliance On Monday last, the administration launched the Micro and Small Enterprise Development (MSED) Project.
Self-evaluation The specific ‘no objection’ role that cabinet plays currently has to do with evaluating how well and fair the procurement process itself has been working.
First decade With a low debt profile, working capital over $5 billion and in excess of $2 billion in cash, Banks DIH is nowhere close to being in trouble.
Marginal role Cooperatives, though useful, are not a noticeable tool in Guyana’s economic development.
Variable performance Sterling Products Limited (SPL) is about to complete its ninth month of operation in 2013 and its economic performance might well remain an enigma to its shareholders as the company moves towards its 59th Annual General Meeting next year.
Outward movement Guyana continues to be a net exporter of its human resources and has one of the highest emigration rates in the world.
Reliable data is very important for conducting analysis and for making good decisions.
Public exchanges The story of the Amaila Falls hydropower project dates back many years and much has already been said and written about it.
Anniversary On June 30, 2013, with all attention on concerns about the expansion of the airport, the future of sugar, legislation about anti-money laundering and financing of terrorism, the price of gold and critical deadlines about the Amaila Falls hydropower project looming, no one noticed that the Guyana Stock Exchange (GSE) had reached an important milestone in its existence.
Continued Cost control Last week, it was observed that though GNPL was experiencing significant difficulties, its management was making the best of a bad situation.
Mood of the company The Guyana National Printers Limited (GNPL) will be celebrating its 75th birthday next year.
Bargain prices But, even as the West ponders its options, Guyanese must figure out the value of China’s money to them for something has gone wrong that is causing well-meaning actions to create a portentous situation.
A surprise It must appear as a surprise to investors from China that many in a country with which it has shared friendly ties for four decades view its economic participation in the Guyana economy rather dimly.
Note to Readers Over the past month I have been engaged with the editorial management on the Stabroek News over an apology they offered to Mr Ron Webster in connection with his controlling share acquisition in Caribbean Containers Inc, a company of which he has at all material times been Chief Executive Officer.
Part 4 Introduction My hope last week was to move seamlessly this week into the big ticket items on the CJIA contract – particularly the runway and the new terminal building.
Introduction I wish to acknowledge the generosity of all those persons who have shared information and their time and expertise relevant to this column.
Introduction In July last year under the caption ‘No such thing as a free chow mein’ I wrote critically of the process leading up to the decision to undertake a proposed expansion project at the Cheddi Jagan International Airport.
Introduction For several years I have drawn attention to the matter of annual reporting by the Cheddi Jagan International Airport Corporation (CJIA), an entity established under the Public Corporations Act.
Introduction Describing its 2012 performance as riding on the back of a growing economy, the Guyana Bank for Trade and Industry Limited (GBTI) will be holding its Annual General Meeting for 2012 at its Kingston Office on Monday June 10 at 6 pm.
Introduction This article draws heavily on a commentary in Ram & McRae’s 2013 Budget Focus.
Introduction Guyana joined the Caribbean Financial Action Task Force (CFATF) in 2002, twelve years after it was established in May 1990.