Tag Archives: Gross Domestic product (GDP)

GUYANA: ‘IDB warns Guyana against wild spending’

May 06, 2022 – Kaieteur News –

– says govt must pay heed to the country’s absorptive capacity regarding mega projects
– cautions significant oil revenues leave Guyana vulnerable to detrimental impacts of Dutch Disease

Kaieteur News – The current proven reserves in the Stabroek Block, which total almost 11 billion barrels of oil equivalent resources, along with the string of recent discoveries for 2022, will no doubt, produce rapid changes in Guyana’s overall economic structure. One of the most immediate effects will be the increase in the country’s Gross Domestic Product (GDP).

However, an increase in GDP does not translate to higher standards of living for citizens, who are the true owners of the oil wealth. In light of this irrefutable fact, the Inter-American Development Bank (IDB) is once again urging Guyana to place greater focus on ensuring the oil wealth leads to economic transformation and not the mere doubling of GDP.                Continue reading

CARICOM – THE DEBT TRAP – commentary

THE DEBT TRAP

Opinion - commentary -analysisAug 21, 2016 Editorial, Kaieteur News

 Guyana’s small but encouraging success in its attempts to reduce the stranglehold of debt on the economy is proof that the country and its CARICOM counterparts continue to be among the most indebted countries in the world. And while none of these countries are very wealthy, based on North American and European standards, they are not overly poor either and there is hardly any starvation among their populations.

Guyana’s debt, which is approximately US$1.65billion continues to be a major impediment to economic growth and human and sustainable development. It has deprived the government of the ability to use monetary policy to promote growth and provide the path for improved lives. It has become obvious to the authorities that everything has to be done to reduce the debt, because it is economically unwise for the nation to be burdened by such a huge liability.

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Guyana Elections: Donald Ramotar talks of his plans and PPPC achievements

A confident Donald Ramotar talks of his plans for his second term

APRIL 12, 2015 | BY |  By Ralph Seeram  – From the Diaspora…
Pres. Donald Ramotar

Pres. Donald Ramotar

While many are predicting the demise of the PPP with the “Time for Change” campaign, incumbent President Donald Ramotar has plans in the works. He can’t wait for elections to be over so he can implement his party’s plans to move Guyana even further in his second term.
A confident Ramotar is looking not only to get over the 50 per cent mark but hoping to get substantially more.

I caught up with the President on his visit to Florida this past Easter weekend, and took the opportunity to interview him.
One of the main charges of the Opposition against the PPP administration is corruption, so naturally the first question I asked is what his administration will do to fight corruption at all levels. Continue reading

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