By Wayne Forde – January 25, 2020
Many Guyanese often compare Guyana’s progress to that of Singapore. Although there are some similarities between Guyana and Singapore, there are significant differences. Guyana achieved Independence from the U.K. in May 1966, and Singapore gained Independence in August of 1965 also from the U.K. And that is where the similarities end and divergence begins.
Singapore is a highly developed and prosperous free-market economy that depends on exports of electronics, petroleum products, medical and optical supplies, pharmaceuticals and chemicals, as well as transportation business, and financial services. Guyana is an under-developed and noncompetitive country with deficiencies and gaps in many areas. Divergence of economies.
Renowned business strategist and Harvard professor, Michael Porter, asked this question: “Why do some social groups, economic institutions, and nations advance and prosper? This question requires an honest assessment of the economic conditions and factors that are problematic for Guyana. The World Bank (2019) identified corruption and inefficient government bureaucracy as two of many problematic factors that hamper the ease of doing business in Guyana.
With 83,000 square miles of land space, Guyana dwarfs Singapore, which has 274 square miles. Both countries diverged in their economic and competitive trajectories starting in the 70s. Guyana depended heavily on exports of gold, diamonds, bauxite, rice, sugar, agricultural products, timber, and shrimp, which represent approximately 60% of Guyana’s GDP. Guyana’s gross domestic product (GDP) of U.S. $3.61 billion (World Bank, 2019) is a fraction of Singapore’s which US$ 491 billion. Closer to home, Jamaica has a GDP of $15.7 billion and GNI of US$4,990 (World Bank, 2018).
Dependence on foreign labor to fill gaps in the labor force
Guyana has one of the highest emigration rates in the world, with 55% of the population living abroad. The World Bank (2019) describes Guyana as having and inadequately educated labor force and a poor work ethic compounded with inadequate infrastructure, and an insufficient capacity to innovate. Guyana’s inadequately- educated workforce stems from the high emigration rate of 83 % of tertiary-educated nationals, commonly referred to as brain-drain, and a net migration of negative 3.2. % that create deficiencies in institutions and impede sustained progress. This brain-drain syndrome forces Guyana to depend heavily on foreign labor, especially in the new oil and gas sector. At the same time, Singapore is restructuring its economy to depend less on foreign workers. With the new oil and gas sector now online, Guyana’s dependence on foreign labor increases significantly. Without a structured mechanism and a policy to engage the Guyanese diaspora effectively, Guyana will continue to depend on non-Guyanese to fill many skilled- labor gaps and shore-up institutional capacity.
Other strategies to prosperity
What accounts for the disparity in growth rates between Guyana and Singapore? Natural resources such as oil and gas catapulted some countries to the middle-income category and created a high standard of living and quality of life for some of its citizens. Other countries such as Singapore achieved middle- income status and a high standard of living without depending on natural resources such as oil and gas. Singapore produces zero barrels of oil. Nevertheless, experts rank Singapore highly in many areas that include the conditions that foster
entrepreneurship. Singapore ranks first in entrepreneurial financial support, government policies, and government entrepreneurship programs in education and training, research and development transfer. In market openness Singapore also is ranks among the top 5 countries.
While transparent strategic management of oil revenues can transform the landscape in Guyana through critical infrastructure development, increased GDP, and an improved standard of living, it is not the panacea for all the existing challenges. The challenges include, but are not limited to inefficient government bureaucracy, access to financing, crime and theft, tax rates, inadequate supply of infrastructure, policy instability, and poor work ethic in labor force, restrictive labor regulations, poor public health, and an inadequately educated workforce (World Bank, 2019).
A success story
Guyana can learn a lot from the Singaporean model. Without extracting one drop of oil or exploiting natural resources, Singapore soared to a prosperous and successful country. Even with
the anticipated oil revenues, Guyana has a lot of catching up to do after 53 years of Independence.
In Singapore, manufacturing and services sectors remain the twin pillars of its high value-added economy (World Bank, 2019). On the other hand, Guyana has depended on an agro-economy with little diversification. Singapore made starting a business easier by reducing the time and number of procedures to start a business by simplifying the online start-up process and abolishing the corporate seals. Exporting and importing are easier in Singapore because of improved infrastructure and electronic equipment. Besides, enforcing contracts was made easier by introducing a consolidated law on voluntary mediation. Dealing with construction permits in Singapore became easier by streamlining procedures and improving the online one-stop shop.
As a resource- scarce country with 5.5 million people Singapore ranks second in the Ease of Doing Business. While the country is the most business-friendly regulatory environment for local entrepreneurs and is ranked among the world’s most competitive economies (GEM, 2019), Guyana ranks 134 in the same category (Ease of Doing Business) out of 190 countries. The Ease of Doing Business provides quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency(World Bank,2019).
Singapore continues to enjoy a high level of entrepreneurial activity in which 11% of respondents interviewed are starting a business, and 15% have the intention of doing so within three years. In 2018, 61,804 business entities began doing business in Singapore. In the same period, 45,609 ceased operating. There is a paucity of data for Guyana in the area of business discontinuance, closure, and the factors that determine small and medium-sized enterprise (SME) success. With oil and gas revenues Guyana will have no financial constraints to make critical reforms, and bolster and develop capabilities for prosperity at an accelerated rate.
Comments
Very interesting read if you are an economist.
However to draw conclusions by comparing Singapore to Guyana is a bit “unfair”.
Singapore is a Far Eastern country influenced
economically by what happens in Asia.
Guyana is a Western country influenced by
what happens in north/South America.
Some very good points were made which
Guyana can take aboard by learning from
the mistakes of past. Too early to draw
conclusions but certainly the views and ideas
of those in the diaspora should be a priority.
Will comment further after results of 2 March are
made public. Politricks does relate to economics but are separate entities.
Economic decisions should not be
determined by the political ones…
Cart before horse scenario or visa versa !
Now go decide
Kamtan 🇬🇧🇬🇾🇪🇸🇬🇧👽
I agree, paper comparison, he glossed over the most important difference “and a poor work ethic” We had a few at the Table Tennis club, their attitude and approach stood out, even against the Chinese majority.
The members that visited Singapore, said first thing you notice, total Law and order Society, these are important if you are in a highly developed society. All that being said I still think that Guyanese can rise to the challenge
I agree that this is a good article comparing the ease of business and entrepreneurship in Singapore and Guyana. What the author fails to mention is the difference in the corruption level between the two countries. Singapore is considered one of the least corrupt nations in the world (4/180). Guyana has improved in recent years (85/180), but still has a very long way to go. Singapore curbed corruption of public servants by 1) paying them good salaries, and 2) having a zero-tolerance policy. Both countries have the same British legal history, hence this should make it easier for Guyana to adopt some of the most effective policies from Singapore.
Correct,Totally unfair Guyana is light years behind. Singapore involved in international banking, electronic manufacturing…..requires a “foreign” mindset for Guyanese. Zero tolerance society, lack of this attitude was one cause of the collapse of the U S auto Industry.
I sometime use https://youtu.be/NqcWLyfbsyA when on the treadmill during winter, cleanliness of the streets tells a lot (off topic)
Not saying impossible to attain their growth, simple because Guyana has greater potential in more lasting areas important to its neighbours, Agriculture, Fresh Water………..just hold on
Singapore has the death penalty for drug trafficking and they flog you if you are caught littering or destroying property. Singapore is also stern on scammers and people who incite mass violence.
Black Guyanese remigrants are being terrorised by “barefoot” Guyanese who try to burn down a $1.5 million dollar pickup truck. Shameful!
This house is another example of how I got fruad out of $10 million dollars [US$50,000]. With the many lies the guyanese [] people told us they own the land where this house is built.
We invested our money by paying them to clean trees from the land and build this house. Now we have no papers for the land with a $10 million dollars house sitting on it. Soon we will have to destroy this house to return to USA plus the house is in a bad location and was intended to be a farm house for a single family.
Since the guyanese and they no money deal became a crime, we had to get the police involved and some were jailed for treatening and destruction of personal property. In the end, the guyanese win by rumour my name has deportee and drugs runner.
The police is guyana has found no illegal with me. So I waiting for my USA visa to return home after making one of the greatest mistake in my life and that was to return to guyana hoping to start a Guy-America life.
With many failures and all investiment lost even my mother and grand parents home gifted to me. I truly have nothing good to say about Guyana. I was wise to establish my self in USA before returning to guyana. I would die here has a deportee with no family here or in America. Remigrant to Guyana is a big mistake, don’t do it if you had establish you life over seas.
You should invest in a good car alarm and a guard dog. This is what one has to experience living with the locals who believe that foreigners are the embodiment of evil. The media in Guyana is fanning the flames against the oil companies and the contempt is being thrown towards foreign investors.
It makes me glad that the oil is hundreds of miles offshore. I could imagine what the locals would do to us if the oil was on-site.
I’m not in the video. It’s a remigrant investor.
This is a scandal. I am sorry to hear about this story. I hope you’ll find the responsible people. This is bad publicity for the country.
The remigrant returned to Guyana around 2011 to start up businesses, but after he was hassled by the PPP government, he decided to spend over US$50,000 to obtain a piece of land to build a house and farm.
This was when his problems started because he claims that the locals started to spread rumours that he was a deportee and a refugee, despite him coming to Guyana with hundreds of thousands of American dollars.
But what makes the locals better to spread rumours and bear false witness and harass the remigrant? He claims that he is a victim of hatred from a certain group of people because of his background (American).
I’ve shared the remigrant’s videos to several overseas-based Guyanese, and they responded that it’s not surprising what oil money can do to people.
Some have even reconsidered remigrating to Guyana and might choose other countries for retirement where they wouldn’t have to face scams and threats of physical harm by locals.
Gated communities and secure hotel rooms are the way in Guyana. The locals don’t like foreigners.
We have “village” mentality mindsets here
in UK. Village folks do not like “outsiders”
especially those from across borders or ROW.
The “stigmata” of culture attitudes.
Today we have nation states practicing
protectionist policies in exchange of goods
and services….especially in USA/EU BRICS.
A policy of tax and tariffs to actually banning
the goods and services of other nation states.
Unfair trading practices which eventually leads
to corporate trading blocks. Big is beautiful
mindsets. Village mentality. Karma.
One must allow free and fair trade for our people’s if the planet to prosper and not perish.
My jury out on subject of what is “free and fair
trading”….anti protectionist trading blocks
as per USA/EU/BRICS
MY TAKE
kamtan
Like I said, there is a demand for gated communities and hotels for foreign investors to protect their investments and lives from xenophobic village-mentality Guyanese
“enforcing contracts” doesn’t exist here in Guyana. The NYC remigrant came to Guyana with over US$150,000 to invest, yet the locals at Timehri treated him as a refugee and deportee. This is what xenophobia is doing to remigrant Guyanese, and I urge remigrants to invest in the oil companies rather than becoming victims of “barefoot Guyanese” who terrorise remigrants while drinking rum and voting for PPP.
You could have stayed in the Sunshine state and obtain land for half the price in Fort Lauderdale, Fort Myers, Orlando and probably everywhere else except Miami. Our country has its problems but we would never treat land owners and entrepreneurs as refugees no matter where they came from.
Mr. Trevor I’m sorry to hear that you were a victim of a scam and possible hate-motivated attempt by the locals in Guyana. It is not suitable to be mingling with the locals at this time.
As someone with decades of experience in the Texan oil industry, it was taught to many of us that before we decided on staying in foreign countries, that it is preferable to rent a five-star hotel for the duration of the contract, and not deal with the local drama.
The investing environment of Guyana has become populist anti-Exxon mixed with anti-foreigner contempt. A Guyanese activist went so far as to threaten staff with harm and death.
Nikita Nikita
5 months ago (edited)
Omg!! Let me say this it’s sad to see you promote such a selfless act of evil, so many people in Guyana are suffering why not give the people in Guyana the first opportunity and build the people foundation there first.. u are a idot to spreads this nonsense… I am sorry Guyana is allowing evil people such as China and Russian to take over beautiful country.
Raphael Nation
Raphael Nation
5 months ago (edited)
Most Guyanese live abroad in countries like the UK, USA and Canada where they have welcomed us and given us citizenship. Why would you suggest that we practice xenophobia and hate when it comes to other people wanting to live here? I don’t condone this hypocrisy.
Guyanese are a strange breed to chase away monied investors, re-migrants and expats who are investing in Guyana to create jobs. This is outrageous.
It’s because of the “Indo-Guyanese” population who believe that they are white, and they are racist. They have educated themselves to become racist because their hero Bharrat Jagdeo lost the election. They are incapable of doing violence, hence using psychological warfare such as mistreating Afro-Caribbean visitors and writing racist news articles against legal visitors from Haiti.
China has a 25% stake in the Stabroek Block therefore I wouldn’t bite the hands that feed you.
The United States of America became the #1 superpower by allowing talent and skills from across the world. The POTUS might be categorized as a bigot and hater, but he wouldn’t hold ill feelings towards the “evil people such as China…”
There appears to be a serious xenophobic issue with Guyanese that is beyond anti-oil and climate activism. It poses a serious threat to foreign investors who might suffer losses such as that expat whose video you had shared as of recent.
Losing 150 grand because of anti-American hatred. Who is behind this hostility towards foreigners in Guyana?
“We have “village” mentality mindsets here
in UK. Village folks do not like “outsiders””
………………………………………………………………………………….
The Uk is a rich country. Most Guyanese wait for Xmas barrels and yearly remittances from Guyanese living in America. It is unfair that a certain group of Guyanese are hostile towards mainly remigrants, foreign investors and Caribbean nationals who are assumed to be non-PPP. A person from India or Bangladesh is not treated the same way.
I have a mixed-race Indo-Guyanese friend who testified that he was treated as if he was a Venezuelan refugee though he had money to spend and dressed more properly than the villagers. They treated him suspiciously. When he went to a barber, the barber started asking him questions as to where he was from, despite noticing that he dressed proper. These types of Guyanese are something else.
A visitor from Antigua who booked a few nights at one of the leading hotels in GT made an online complaint that she believed that she was a victim of racial discrimination by an “Indian waitress who served a later guest before her, treated her with disdain while laughing and smiling with “Indians” and acted hostile towards her”. She alleges that it was racism. Antigua is a richer country than Guyana, and one night at the hotel is a week’s pay for a public sector worker in GT.
What the PPP supporters are doing is a silent form of racism and xenophobia. They don’t do this to Indians and Bangladeshis who come here illegally or marry Indo-Guyanese girls for marriages of convenience.
Imagine returning to Guyana after four years of study, only for the barbershop man to insist that you are from Venezuela. Disheartening.
The villager in the UK fears that mass immigration is a burden to taxpayers. Meanwhile, remigrants and Afro-Caribbeans are coming to Guyana with money, yet they are being treated worse than the UK racist treats refugees.
They don’t want us there because they think that they can re-elect the PPP government again and become a post Hindutva state they are copying what Modi is doing to other groups in India 🇮🇳
If I buy a $1 coffee here the staff smile at me. This is what they are being paid for. Treating your customers like pond scum is bad for business. Why would I spend a thousand dollar for plane to get treated like scum by the Guyanese bigots?
The barber had no right to ask of the place of origins to your friend. If this happened in Canada 🇨🇦 he would be sued for discrimination. Sickening how Guyanese are treating visitors who have money to invest.Back to my coffee break at Tom Hortons
The same racist PPP Guyanese are going to piggyback on the struggles of MLK, Malcom X and other African-Americans to take jobs away from Americans. The mind of the PPP voter is messed up. They believe that they are Arabians and oil Sheikhs when their DNA is 99.9 to 100.0% low caste Indian.
Trevor
Low caste Indians is a very derogatory
comment. Is a cane cutter a “low caste”
Indian or a “working class” person.?
In every society you will find class
distinctions/prejudices.
Upper class
Middle class
Lower class
All the above are working people.
When class is associated with race it
is a bit OTT distasteful/derogatory.
One people
One nation
One destiny
Way forward.
Kamtan
Back on the topic, the xenophobia and racism from the PPP supporters by discriminating against upper class Afro-Caribbean and remigrant Guyanese are detriments to the business development of Guyana. The PPP supporters are conducting some form of psychological warfare to make foreigners of certain races feel unwelcome.
Educated and upper class Afro-Caribbean women are disrespected and treated rudely by low-level staff who live on squatter land and walk barefoot in their yards because they want to preserve their $200 pair of slippers.
Afro-Caribbean women with US$200 heels and the latest Dolce & Gabbana handbag being disrespected by a low class PPP supporter.
International Canadian student visiting Guyana after completing studies treated as a Venezuelan criminal despite wearing US$150 sneakers and having “money fi spend”.
Is this how the PPP wants to rule Guyana? Their bigotry is scaring investors!
Only answer to comments above is
Viv la Vida
Live let live
Let’s just agree to disagree here !
Kamtan
Kamtanblog, there is a reason why Singapore is an investment hub, while Guyana, with the PPP xenophobia, continues to be risky for investors.
Xenophobic petulance/prejudices
does not deter
major investors. If anything it may
deter individual investors but certainly
not the major players…..which allows
for resident guyanese investors to take
up slack.
Let’s see what happens after 2 March
before further “speculation” !
…
Sorry to butt in the conversation, but excluding individual investors is unfair. The individual investor could become the next major player of tomorrow.
Agree !
Was in response to Trevor venomous
points on “outsiders” influence/taking over.
of course any investment in Guyana will
come with strings/ropes attached.
Wouldn’t wish guyanese to loose their
identify…culturally anyway. The guyanese
humour is infectious.
Economically win win for Guyana
Politically hopefully change for better
Culturally the change come..hopefully gradually.
Am optimistic for the future
Que sera sera
Kamtan
Jim Thanks for the input !
I’ terribly sorry but I refuse to be involved in any conspiracy theories that are coming from Trump. Guyana needs foreign investment. Does anyone in Guyana have the capital to develop the oil industry?
The barber had no right to ask of the place of origins to your friend.
If someone is a paying customer from a high-income country such as Canada, why the need to interrogate that customer if he is a “Venezuelan refugee” or whatever that means?
Can someone explain to me what is the stigma attacjed to one being interrogated as a “Venezuelan refugee”? Is this the same as how racist Americans describe illegal Mexicans?
Xenophobic trash !barbers/hairdressers
are sources of info for the few not the
many.
When on meeting stranger at first and asked
where I come from …
My first response is usually
Timbuktu
Followed later by planet earth
Then 👽
It usually brings a smile to their faces 😊
Can someone explain to me what is the stigma attached to one being interrogated as a “Venezuelan refugee”? Is this the same as how racist Americans describe illegal Mexicans?
There are some Guyanese who don’t like Venezuelans, and view them as a burden to society (similar to the Haitian xenophobia from the PPP).
It offends many wealthier remigrant Guyanese and Caribbeans from developed countries to be treated with disdain, suspicion and hostility as if they were refugees.
Hotels, gated communities and private hospitals for expats are a must. Guayana has some nasty anti-foreigner hatred that is directed at the individuals because they are unable to go against the corporations.
Trevor:
From my occasional visits to this site, all I I see you do is whine and complain with negativity. Do you really want our country overran by foreign nationals? Do you really want to see our beautiful country destroyed by invaders? Gimme a break, fella. You are not looking at the big picture! It is said that those who forget history are doomed to repeat it. Be careful what you wish for.
Ramesh
Ramesh, if you think it is okay for the Indo-Guyanese to get hostile and violent towards Afro-Caribbeans and Afro-Guyanese remigrants, then, using your PPP belief system, your theory is that the African-Americans should get their arms and exterminate the Indo-Guyanese in America, for coming into America illegally and taking away the jobs of Americans. How would you like that?
Ramesh, you are in America because the African-Americans fought and died for their civil rights. Likewise, an Afro-Guyanese remigrant invested over US$150,000 in Guyana only to be treated as a deportee and threatened with xenophobic violence and death. I don’t get why the PPP Guyanese are racist, anti-foreigner and anti-Black. If this man was in GT, he wouldn’t be treated like a deportee. He would be welcomed for bringing so much money to invest.
The gentleman in the video lacks street sense though his accent sounds like an Italian from New York. His house is not safe for a country like Guyana.
Trevor; “Ramesh, you are in America because the African-Americans fought and died for their civil rights.”
Where did I state that I live in the cesspool called America? Your false assumption sums up the ubiquitous nonsense you post on this site.
Moreover, when a person posts as often as you do, people will eventually see it as nuisance and simply ignore it. Again, I don’t want my country invaded by illegals and opportunists. If that is your preference, so be it. It’s not mine. You are free to dance to the beat of your own drums and I’ll clap when I see you dancing with your knees.
Ramesh
Ramesh why did you complain to the mods when I asked you a question regarding Afro-Caribbean remigrants?
CAPTAIN! CAPTAIN! I thought we were heading to SINGAPORE ah wey we goin now?
Singapore would never be racist against foreign investors. There are strict laws against drugs trafficking, hatred and promoting violence on the streets, unlike what the PPP has in store for the Afro community if they are elected. Singapore would never treat an Afro-Guyanese remigrant hotel businessman as a refugee.
Do you know what I find very hypocritical coming from those who identify as Indo-Guyanese? They are against foreign investment because many African-Americans, Arabs, Filipinos and Hispanics are making businesses in GT, but the government stopped the illegal drugs money from the PPP government from becoming a threat to foreign investment. If you go to several parts of Sheriff Street and Camp Street there were buildings that were left partially constructed after 2016 and 2017 because the money to build it dried out (drugs money).
The Guyanese living in America and Canada who promote violence and racism against foreign investors are likely people who would benefit from the PPP cocaine trade, hence, stopping foreigners from entering Guyana, and showing their true colours by becoming racist and violent towards them to get them out of the country.
Singapore would jail people like Bharrat Jagdeo and others.
Jim you are right. Diaspora Guyanese and Afro-foreigners have to live in gated communities and insulate themselves from the racist PPP supporters who treat them with contempt.
Ramesh, how do you think my ancestors felt when we fought against the Dutch and British for our emancipation, but the British brought in 400,000 indentured labourers from India to drive down the price of wages, import a foreign religion, import the caste system, import racism and also deprive my ancestors of land because it was seized for the sugar plantations?
If my ancestors were as racist as you and the Bharrat Jagdeo supporters living in America, Canada and Guyana, there wouldn’t be a race such as “Indo-Guyanese” in Trinidad, Jamaica, Guyana and Suriname. Think about it for a second.
Why are you in America piggybacking on the struggles of the Native Indians and African-Americans, yet you have no emotion when racist violence is done against Venezuelans and Afros, because you believe that they are “foreigners” who deserve it?
Based on the experiences of how Afro-Guyanese and Afro-Caribbeans are treated in general by those who identify as PPP supporters, I might get a complaint. It’s okay.
Ramesh talks of “foreigners” flooding Guyana, when in 1814, the British started importing indentured labourers from India en masse. They got to retain their culture, while my ancestors were stripped, figuratively and literally of their identities during slavery.
Do you really want to see our beautiful country destroyed by invaders?
This sounds quite revolting. Are you a Trump supporter by any chance?
I wish to unsubscribe from this post as it’s becoming very divisive.
Jim
Ramesh: Again, I don’t want my country invaded by illegals and opportunists.
Ramesh why did you remove my comment?
Ramesh said “Where did I state that I live in the cesspool called America?”
As much as I criticise America for being intolerant, it’s America that is saving you and your family from being targeted by Venezuela. It’s an American company ExxonMobil which developed the Stabroek Block to become one of the hottest oil regions in Latin America. You are ungrateful, racist and intolerant.
You don’t want “illegals”, yet many Guyanese from your community smuggle themselves “back track” to Bronx, Richmond Hill and Harlem to give African-Americans a hard time and take away their jobs.
Go, Ramesh, complain on this.
You obviously don’t want African-Americans and Afro-Guyanese remigrants to to invest hundreds of thousands and millions of Amero dollars into the Guyanese economy.
But on March 02, 2020, the days of the PPP racists are numbered. They aren’t going to continue to harass Afro-Guyanese remigrants and Afro-Caribbean tourists. This will become an offence under under new hate crime and anti-discrimination laws.
Guyana has a lot to learn based from the comments.
America is the greatest economy in the world. It’s not a cesspool. Guyana has a lot to learn. Oil isn’t going to make you into a billionaire. America wouldn’t allow competition. You have much to learn despite your age.
I have saved almost one million dollars and there is absolutely no way, except for government bonds, that I would send my *** to Guyana and get disrespected by persons who claim that I’m invading their country because of capitalist intents
As a proud American, I find it highly offensive that people from poorer countries such as Guyana are dissing the United States of America in a pretentious manner.
I do not mind criticism of foreign policies or the economy, but referring to our nation as a ‘cesspool’ when the USA has helped Guyana in so many facets is disrespectful.
Referring to my fellow American investors as undesirables for investing in Guyana is shocking given that the gross national income of the average Guyanese is less than US$4,000 a year