Guyanese Online

Dear Editor:

In a discussion on Sunday June 19, 2022, the panelists on Observer Radio in Antigua considered a statement by Prime Minister Gaston Brown of Antigua and Barbuda. That statement suggested that it might be necessary for the Caribbean countries in CARICOM to approach Venezuela for a second chapter of Petro Caribe which was designed to help Caribbean countries at the time of Hugo Chavez’s Bolivarian Revolution.

At this point it is good to remember that Trinidad and Tobago during the days of its oil boom had extended credit facilities to some of the Caribbean islands in CARICOM. One of them, Guyana, benefitted from these credits up to its limit of $500M in US dollars, I suppose largely for fuel imports. It was reported that a substantial amount of these debts ($482.5M US dollars) were eventually written off by the Trinidad and Tobago government as Guyana was unable to honour its debt. (See note at end).            Continue reading →