Tag Archives: Minister of Finance – Winston Jordan

Guyana’s oil revenues to be held in NY Federal Reserve Bank – Jordan

Finance Minister Winston Jordan

Guyana’s Natural Resource Fund (NRF), which will hold oil revenues, is to be located in the Federal Reserve Bank of New York rather than the Central Bank of Guyana, Minister of Finance Winston Jordan has revealed.

“We are in the process of getting the requirement to have the account established,” Jordan stated during an interview with the Department of Public Information (DPI) on Wednesday before adding that once “parked” in the account, these funds will await a new Parliament to decide on spending.

Jordan had previously indicated that the account would be a regular account at the Bank of Guyana and when royalties go into it, spending will happen until after elections when required committees are set up.      Continue reading

Guyana: We have the land we can accommodate everybody – Finance Minister on Hurricane Dorian

“Guyana is fortunate as it is not in the hurricane, volcano nor earthquake belt”.

“We have such a big land we can accommodate everybody.” This was stated by Minister of Finance, Winston Jordan, who has also called on countries to take stock of the devastating impact of climate change.

The devastation in a part of The Bahamas following Dorian’s passage (Mirro.co.uk)

Minister Winston Jordan

Minister Jordan said the destruction wrought in the Bahamas, “is telling us something.” As such, countries prone to such intense tropical cyclones, need to heed the warning.    Continue reading

Gold roars past 300,000 ounces – production projected beyond 600,000 ounces for 2016

Jun 28, 2016  – Kaieteur News 

 Government is aiming to top the 600,000 ounces mark for gold declaration this year with the first half showing encouraging signs.
As of June 22, last, around 315,000 ounces have been declared for the year so far, with Minister of Natural Resources, Raphael Trotman, stressing yesterday that contributions from the small and medium scale miners have been significant.

Of course, the two large players have been strong with Canadian-owned Guyana Goldfields Inc. targeting 75,000 ounces for the first half.
“Things are looking very positive. As you know, oil prices are going up. Gold has gone up significantly and we are looking to crest that 600,000 annual mark.”

Minister Raphael Trotman

Minister Raphael Trotman

That revised target will be significant, by any means. Last year, Guyana surged to 451,000 ounces despite a four-year low in gold prices.
An ambitious 550,000 ounces was set for this year but it looks this will be easily surpassed.   Continue reading

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