Guyana and the Wider World

Guyana and the wider world Within the international economic community there is a growing consensus that the worst is over.

Guyana and the wider world Expansionary impact Expansionary impact We saw last week that despite the high level of recognition readers have for stimulus packages as an economic policy tool, what it takes to make government spending a true stimulus is not widely recognised.

Guyana and the Wider World E – mail address: cythomas@guyana.net.gy Readers requests Eight years ago the then SN editor-in-chief, David de Caires, ask-ed me to contribute a regular Sunday column under the general rubric: ‘Guyana and the Wider World.’

Pain and suffering Over the past year, the full-blown effects of the global financial and economic crisis, have led to unprecedented pain and suffering across the global economy.

Guyana and the wider world In last week’s column (July 26) I had urged the importance of the symbolism for developing countries, which the United Nations Conference on the Global Financial and Economic Crisis held in New York, last June represented.

Guyana and the wider world I have been arguing for weeks now that the present global economic crisis coming on top of the food and fuel crisis of 2007-2008, requires a global effort to resolve it.

Wanted: A United Nations Economic Security Council G20 – leading the charge In last week’s column I argued that the global economic crisis had become very complex, involving immense human and social suffering, thereby constituting a grave threat to past global developmental efforts. 

Guyana and the Wider World E – Mail address cythomas@guyana.net.gy Observations Last week’s column sought to make three major observations about the ongoing global economic crisis.

The global economy: Economic recovery or more misery Last week’s column diverted to treat with the recent disclosures about the CL Financial and Stanford International Groups.

Guyana and the wider world Because of spectacular developments in the ongoing scandals surrounding the CL Financial (Trinidad) and Stanford International (Antigua) Groups and the involvement of local Guyanese enterprises, I will postpone last week’s promise to continue the discussion on whether there are reliable signs of recovery from the global economic crisis, as seen from the perspective of developing countries.

Is the global economy recovering? Today the issue which seems to concern the international development community most (especially governments and international organisations) is whether it can be fairly claimed that generally, around the world, there are signs of recovery from the global economic crisis.

Hiccups on the road to economic recovery! Last week’s column referred to two important ongoing debates concerning the future course of the global economic crisis.

Guyana and the wider world By Dr Clive Thomas (E-mail address: cythomas@guyana.net.gy)

The global economic crisis: A tipping point in regional integration As I have tried to show in recent columns the meltdown of the CL Financial and Stanford Financial Groups has had serious damaging effects on the financial sector of most Caricom member states.

Guyana and the Wider World Next in importance to the damaging effects of the global economic crisis on Caricom’s exports of goods and services, and possibly also public and private investment flows to the region, I predict that when the information is finally forthcoming, the contagion effects of the global crisis on the region’s financial sector will be the most devastating.

Is the CL Financial Group too big to fail? Last week I had indicated that it was the stated conviction of the Trinidad and Tobago Government and its Central Bank Governor that the CL Financial Group was “too big to fail.”

Beware of boasting At the press conference of January 30, held in Trinidad, and discussed in last week’s column, Chairman Duprey of the CL Financial Group had indicated that the credit squeeze caused by German bankers refusing the company credit was a main reason for its troubles.

CL Financial Group: Meltdown and bailoutAs promised last week, this week I begin a review of the CL Financial Group meltdown.

Guyana and the wider world Smelling the stench In recent years, individuals who have had their ears close to the ground in Caricom’s financial, accounting, business, professional, and other expert circles, could not avoid being aware of the sordid doubts and deep misgivings swirling around corporate governance at the Stanford Financial Group.

Guyana and the wider world Recap In last Sunday Stabroek  I had started a discussion on what I described as the “crisis of credibility” facing actions by the government and its functionaries on economic matters.