…raises red flag over technocrat signing loan request to China instead of Finance Minister
Nov 08, 2021 –Kaieteur News – Former Finance Minister Winston Jordan, has expressed grave concerns over Guyana’s borrowing spree and he also questioned the legality of a letter sent to the Chinese ambassador regarding a loan request of US$1.5B, which he said was signed by a finance ministry official instead of the subject minister who according to Section 58(1) of the Fiscal Management and Accountability Act 2003 (FMAA), has the sole authority to borrow on behalf of the Government of Guyana.
In a letter to the editor of this newspaper, Jordan said that he had begun to hear rumours, around March, about the government’s approach to China for loans totalling US$1.5 billion, to finance various infrastructure projects. Continue reading →
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Posted in Business, Chinese investment in Guyana, Commentary, finance and trade, foreign investment, Government, Guyana, Guyana infrastructure, History, Personalities, Politics
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Also tagged Chinese Loan Request, Guyana - former Finance Minister Jordan, Guyana: ‘Govt.’s borrowing binge will hurt Guyana’, Guyanese Online, Kuwait, Sovereign Wealth Funds of the United Arab Emirates
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Aug 27, 2020 Kaieteur News – By Kiana Wilburg
– Govt. will continue its due diligence; we will not be rushed – Vice President Jagdeo
“…Guyana is one of the better opportunities for us in the ExxonMobil portfolio (but) it is not the only one. And indeed, if we don’t get the agreement as we are looking for on Payara (the company’s third Field Development Plan), the investment money will go elsewhere in ExxonMobil’s portfolio.” Those were the words of ExxonMobil’s Country Manager, Alistair Routledge, during an online interview yesterday which Kaieteur News and other media entities were not invited to.

Vice President Bharrat Jagdeo
Since making the comment, many local and international transparency advocates expressed concern that the American oil giant is issuing a threat to a Sovereign State while it exercises its right to review all aspects of the Payara plan. But if the company intended to send a threat to Guyana, Vice President, Dr. Bharrat Jagdeo, categorically stated that it would not work. During an invited comment with this newspaper last evening, Dr. Jagdeo stressed that the position as noted by the company will have no effect on the quality of due diligence being carried out by the government on ExxonMobil’s Payara Field Development Plan (FDP). Continue reading →
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Guyana: ‘Govt.’s borrowing binge will hurt Guyana’ – says former Finance Minister Jordan
…raises red flag over technocrat signing loan request to China instead of Finance Minister
In a letter to the editor of this newspaper, Jordan said that he had begun to hear rumours, around March, about the government’s approach to China for loans totalling US$1.5 billion, to finance various infrastructure projects. Continue reading →
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