Guyanese Online

 …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 →