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Reply to "Making sense of the Exchange Rate Depreciation-Tarron Khemraj."

Drugb posted:

This jackass TK using PNC operative Clive Thomas as a trusted source for determining drug money as part of GDP, a man with political connection and recipient of PNC gravy train. Talk about conflict of interest. Can this jackass tell us how Clive Thomas came up with these figures?

The narco economy is one component of the underground or parallel economy, which the most recent study by Professor Clive Thomas and his co-authors has found to be approximately 40% of the official economy.

During the Jagdeo era, the US State Department reported that the underground economy accounted for between 40 - 60% of the formal economy in their 2007 report. 

Here is an excerpt from the State Department International Narcotics Control Strategy Report issued in 2007.

Page 196 - https://www.state.gov/document...ganization/81447.pdf

Guyana
Guyana is neither an important regional nor an offshore financial center, nor does it have any free trade zones. However, the scale of money laundering is thought to be large relative to the size of the economy, with some experts estimating that the informal economy is 40 to 60 percent of the size of the formal sector. Money laundering has been linked to trafficking in drugs, firearms and persons, as well as to corruption and fraud. Drug trafficking and money laundering appear to be benefiting the Guyanese economy, particularly the construction sector. Investigating and prosecuting money laundering cases is not a priority for law enforcement. The Government of Guyana (GOG) made no arrests or prosecutions for money laundering in 2006 due to a lack of adequate legislation and resources. 

Mars
Last edited by Mars
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