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FM
Former Member

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69.7% Guyanese unable to  repay mortgages

Economic crises deepen…

Hundreds of Guyanese are on the verge of losing their properties as a result of inability to pay their mortgages, as the local economy continues to flounder, according to People’s Progressive Party/Civic (PPP/C) Member of Parliament Irfaan Ali. Ali said based on data in his possession of his own investigations from many financial institutions, non-performing loans or loans where the borrower failed to pay instalment for three months, have increased by 69.7 per cent in 2015 and continues to skyrocket.

PPP/C MP Irfaan Ali

PPP/C MP Irfaan Ali

“The non-performing loans moving from $8.8 billion to $20 billion, and as I said that was the half-year figure of the Bank of Guyana and over the last quarter it has not improved, it has deteriorated further. Some institutions would have been setting aside resources in excess of 100 per cent of that of 2014 for bad debt. These are the numbers we are having and that is a serious indication as to what is coming out of the financial sector and the banks themselves. So from the macro side, those are some of the numbers that present a worrying trend for us,” Ali told a recent news conference.

Ali said there are a number of factors which are responsible for this crisis, including the fact that the new government has not created employment, but rather it has placed hundreds of persons on the breadline directly an indirectly.

He used as an example the discontinuation of the 100 Homes Project, which would have direct employment for more than 300 Guyanese, many of whom may have loans.

Another area that is responsible for the increase in non-performing loans, according to Ali, is the current crisis in the rice industry, where many farmers are millers are already having their assets repossessed by financial institutions.

“A lot of the rice farmers and millers have huge loans in the banking sector, they have their assets pledged to those loans and the banks will have no other choice but to come down hard on the rice farmers,” Ali said.

Further, the increase in non-performing loans can be linked to the slowdown in economic activities as many businessmen with huge loans are unable to make their payments as business transactions have slowed tremendously.

Another factor which is attributed to this fiasco is that of the increase in unemployment, as many large employers were forced to retrench their employees, again many of whom may be holders of mortgages.

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Quote "Ali said there are a number of factors which are responsible for this crisis, including the fact that the new government has not created employment, but rather it has placed hundreds of persons on the breadline directly an indirectly.unquote

FM
Originally Posted by Drugb:

This is the gift that keeps on giving, putting an incompetent govt into office to roll back progress made in the past 2 decades. 

PNC/APNU lies when they promised "A Good Life" and Green Economy all they interested in was shoving their dirty hands in the cookie jar and took what they feel like taking in that fantastic Salary Increase.

FM

The Guyanese economy will implode. This is the first sign of an economic recession while we have a bunch clueless AFC/PNC old wine in new bottle syndrome.

 

This is devastating news. Well, Guyanese got what they voted for. 

 

The young generation is in for a lesson of their lives since they never experienced the reckless and clueless PNC. Old people were warning them about the PNC and now they have a true taste of the PNC.

 

More hardships to come, this has only been just under a year. 

FM
Last edited by Former Member
Originally Posted by asj:
Originally Posted by Drugb:

This is the gift that keeps on giving, putting an incompetent govt into office to roll back progress made in the past 2 decades. 

PNC/APNU lies when they promised "A Good Life" and Green Economy all they interested in was shoving their dirty hands in the cookie jar and took what they feel like taking in that fantastic Salary Increase.

You did not listen properly, the "good life" is for the PNC/AFC fat fowls holding ministerial positions!

FM
Originally Posted by asj:
Originally Posted by Drugb:

This is the gift that keeps on giving, putting an incompetent govt into office to roll back progress made in the past 2 decades. 

PNC/APNU lies when they promised "A Good Life" and Green Economy all they interested in was shoving their dirty hands in the cookie jar and took what they feel like taking in that fantastic Salary Increase.

Well, they boldly declared that the treasury was empty. It was not empty but they were setting up Guyanese for a big con job in order to them to loot the treasury. Look at Moses and his 100 Million and now allegations of Ramjattan and the speciality hospital.

 

These AFC/PNC crooks are so bold, no debates, no bidding, the Cookie jar is just for the AFC/PNC boys. 

FM
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

What happened when the US economy and banks collapsed ?

FM
Originally Posted by yuji22:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

What happened when the US economy and banks collapsed ?

They collapsed due to massive mortgage fraud....bad economy did not cause the collapse...it was bad mortgages and that caused it to collapse

FM
Originally Posted by yuji22:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

What happened when the US economy and banks collapsed ?

The US pulled up their laces and got on with the recovery. Look how the country is now enjoying economic success.

Mr.T
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

Correct, PNC came to power, economy tanked, people losing jobs, is sheer helter-skelter.  It is all linked to the PNC power grab!  Many people don't have much reserves when they lose their income!

FM
Originally Posted by Mars:

Irfart most likely pulled these numbers from his ass. Does anybody really believe anything that comes out of Guyana Times and the PPP?

Thus far, you have not made any case of the accusation made against the PPP but thus far, you have delivered what people feared.  Now it seems the only saving grace for the PNC is to revert to the PPP projects they railed so much against.  So, the PPP has more credibility than the PNC ever had and the PNC going more and more downhill.

FM
Originally Posted by baseman:
Originally Posted by Mars:

Irfart most likely pulled these numbers from his ass. Does anybody really believe anything that comes out of Guyana Times and the PPP?

Thus far, you have not made any case of the accusation made against the PPP but thus far, you have delivered what people feared.  Now it seems the only saving grace for the PNC is to revert to the PPP projects they railed so much against.  So, the PPP has more credibility than the PNC ever had and the PNC going more and more downhill.

The coalition government, when in opposition, was against the Speciality Hospital because of the Surendra contractor. Their fears became a reality after Surendra ran away with the Government's money. Again, they were not against hydro power but against the financing of the Amaila project. The hydro project was slated to cost $485 million in the beginning. This was in the ballpark for a 165 MW plant. The PPP inflated the numbers in another of their crooked schemes and brought it to close to $1 Billion dollars. For 165 MW, Amaila is way overpriced at $ 1 billion. The PPP will be rich for life at that price and Guyanese taxpayers will be bearing the burden for decades.  

Mars
Originally Posted by baseman:
Originally Posted by Mars:

Irfart most likely pulled these numbers from his ass. Does anybody really believe anything that comes out of Guyana Times and the PPP?

Thus far, you have not made any case of the accusation made against the PPP but thus far, you have delivered what people feared.  Now it seems the only saving grace for the PNC is to revert to the PPP projects they railed so much against.  So, the PPP has more credibility than the PNC ever had and the PNC going more and more downhill.

Mars noted that Irfaat likely massaged some numbers in his rectum and shit it out

 

u respond to this with canned red herring ranting about no PPP ain't get jail yet, and PNC having to "revert to the PPP projects . . ."

 

huh?

FM
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

Nehru
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

Bai dis only look like de trailer. Looks like the rob, kill and burn industry is about to take off under the PNC. Guyana will have full employment.

FM
Originally Posted by skeldon_man:
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

Bai dis only look like de trailer. Looks like the rob, kill and burn industry is about to take off under the PNC. Guyana will have full employment.

is this your contribution . . . are u that empty and ignorant?

FM
Originally Posted by redux:
Originally Posted by skeldon_man:
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

Bai dis only look like de trailer. Looks like the rob, kill and burn industry is about to take off under the PNC. Guyana will have full employment.

is this your contribution . . . are u that empty and ignorant?

Look who is talkin

Nehru
Originally Posted by Mars:

Irfart most likely pulled these numbers from his ass. Does anybody really believe anything that comes out of Guyana Times and the PPP?

The PNC have NO Plan for the future, they are using the PPP Manifesto.

K
Originally Posted by Nehru:
Originally Posted by redux:
Originally Posted by skeldon_man:
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

Bai dis only look like de trailer. Looks like the rob, kill and burn industry is about to take off under the PNC. Guyana will have full employment.

is this your contribution . . . are u that empty and ignorant?

Look who is talkin

you must have had a good Friday night selling bt

FM
Originally Posted by redux:
Originally Posted by skeldon_man:
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

Bai dis only look like de trailer. Looks like the rob, kill and burn industry is about to take off under the PNC. Guyana will have full employment.

is this your contribution . . . are u that empty and ignorant?

I am trying to give your ignorance competition. I always seem to lose.

FM
Last edited by Former Member
Originally Posted by redux:
Originally Posted by Nehru:
Originally Posted by redux:
Originally Posted by skeldon_man:
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

Bai dis only look like de trailer. Looks like the rob, kill and burn industry is about to take off under the PNC. Guyana will have full employment.

is this your contribution . . . are u that empty and ignorant?

Look who is talkin

you must have had a good Friday night selling bt

YOU ARE A CERTIFIED BATTY BOY. YOU NEVER START A SENTENCE WITH HAVING THE WORD BATTY. YUH DOES TEK THING NIGHT AND DAY. WHEN DO YOU REST AND WHERE YOU GET GUYS TO DO IT DAY AND NIGHT???

Nehru
Originally Posted by Mars:
Originally Posted by baseman:
Originally Posted by Mars:

Irfart most likely pulled these numbers from his ass. Does anybody really believe anything that comes out of Guyana Times and the PPP?

Thus far, you have not made any case of the accusation made against the PPP but thus far, you have delivered what people feared.  Now it seems the only saving grace for the PNC is to revert to the PPP projects they railed so much against.  So, the PPP has more credibility than the PNC ever had and the PNC going more and more downhill.

The coalition government, when in opposition, was against the Speciality Hospital because of the Surendra contractor. Their fears became a reality after Surendra ran away with the Government's money. Again, they were not against hydro power but against the financing of the Amaila project. The hydro project was slated to cost $485 million in the beginning. This was in the ballpark for a 165 MW plant. The PPP inflated the numbers in another of their crooked schemes and brought it to close to $1 Billion dollars. For 165 MW, Amaila is way overpriced at $ 1 billion. The PPP will be rich for life at that price and Guyanese taxpayers will be bearing the burden for decades.  

Yea, you have a reason for anything.  Hitler also had his reasons!

FM

These fellows are jokers. !50 million US diverted from the Petrocarbide fund to pet boutique projects as their spend to skim schemes and they are complaining that in six months the rice farmers are broke! Why in the world are those banks charging usurious rates in the first place....14 percent interest in supposed good times?

 

I do not doubt that the current administration are too concerned with the blame game than with good practices but IFFart the big thief should not be complaining. 

FM
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

when the ppp was giving out mortgage like its a toy their were warn that the market will crash it happen in north america and it will happen in guyana  they try to prostrate that the country was developing fooling the people is a communist trick 

FM
Originally Posted by warrior:
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

when the ppp was giving out mortgage like its a toy their were warn that the market will crash it happen in north america and it will happen in guyana  they try to prostrate that the country was developing fooling the people is a communist trick 

Wah de rass you ah talk hey bai?

FM
Originally Posted by Stormborn:

These fellows are jokers. !50 million US diverted from the Petrocarbide fund to pet boutique projects as their spend to skim schemes and they are complaining that in six months the rice farmers are broke! Why in the world are those banks charging usurious rates in the first place....14 percent interest in supposed good times?

 

I do not doubt that the current administration are too concerned with the blame game than with good practices but IFFart the big thief should not be complaining. 

STICK TO THE FACTS AND MAYBE YOU WILL HAVE SOME CREDIBILITY.

Nehru
Originally Posted by skeldon_man:
Originally Posted by warrior:
Originally Posted by Nehru:
Originally Posted by RiffRaff:

SO..these people were able to pay their mortgages until the AFC/APNU came in power...wow...talk about BS story

 

 

What is so difficult to understad. The PNC and 2 House Slaves turn the Country from Growth to shrinkage.

when the ppp was giving out mortgage like its a toy their were warn that the market will crash it happen in north america and it will happen in guyana  they try to prostrate that the country was developing fooling the people is a communist trick 

Wah de rass you ah talk hey bai?

ask nehru he will explain its that shit in your head sorry about that one day u will get help

FM
Originally Posted by warrior:
 

when the ppp was giving out mortgage like its a toy their were warn that the market will crash it happen in north america and it will happen in guyana  they try to prostrate that the country was developing fooling the people is a communist trick 

You seem to be quite an ignorant person. The PPP didn't give out mortgages, it was the private banks which had confidence in the economy under the PPP rule. Now the hard luck afc/apnu in charge, the economy has tanked and people are now defaulting, clearly the blame is at the feet of this new government who inherited a vibrant economy and turned it into a colossal failure. 

FM
Originally Posted by Drugb:
Originally Posted by warrior:
 

when the ppp was giving out mortgage like its a toy their were warn that the market will crash it happen in north america and it will happen in guyana  they try to prostrate that the country was developing fooling the people is a communist trick 

You seem to be quite an ignorant person. The PPP didn't give out mortgages, it was the private banks which had confidence in the economy under the PPP rule. Now the hard luck afc/apnu in charge, the economy has tanked and people are now defaulting, clearly the blame is at the feet of this new government who inherited a vibrant economy and turned it into a colossal failure. 

Yes, he is ignorant and brainless but we must care for all humans(I am hoping he is)regardless.  Give him time for his brain to develop.

Nehru
Originally Posted by Nehru:
YOU ARE A CERTIFIED BATTY BOY. YOU NEVER START A SENTENCE WITH HAVING THE WORD BATTY. YUH DOES TEK THING NIGHT AND DAY. WHEN DO YOU REST AND WHERE YOU GET GUYS TO DO IT DAY AND NIGHT???

banna, is nah u does boast on this BB that u does 'pitch' fuh money with man but doan 'catch' ??

 

bt sellers like u tell your poor wives dat wan whenever alyuh get ketch climbing pan man back

 

i am simply informing the board that this is a proven fake macho LIE!

FM
Last edited by Former Member
Originally Posted by redux:
Originally Posted by Nehru:
YOU ARE A CERTIFIED BATTY BOY. YOU NEVER START A SENTENCE WITH HAVING THE WORD BATTY. YUH DOES TEK THING NIGHT AND DAY. WHEN DO YOU REST AND WHERE YOU GET GUYS TO DO IT DAY AND NIGHT???

banna, is nah u does boast on this BB that u does 'pitch' fuh money with man but doan 'catch' ??

 

bt sellers like u tell your poor wives dat wan whenever alyuh get ketch climbing pan man back

 

i am simply informing the board that this is a proven fake macho LIE!

Antiman, Dont tell us of your experiences. WE do respect your kind.  Even Obama says it is OK.  AS Seignet says, come out, we will all support you and respect your way of life.  Your constant attempt to come out has been noted. Please feel free to join Elton John and come out and let the pressure off.

Nehru
Originally Posted by Nehru:
Originally Posted by redux:
Originally Posted by Nehru:
YOU ARE A CERTIFIED BATTY BOY. YOU NEVER START A SENTENCE WITH HAVING THE WORD BATTY. YUH DOES TEK THING NIGHT AND DAY. WHEN DO YOU REST AND WHERE YOU GET GUYS TO DO IT DAY AND NIGHT???

banna, is nah u does boast on this BB that u does 'pitch' fuh money with man but doan 'catch' ??

 

bt sellers like u tell your poor wives dat wan whenever alyuh get ketch climbing pan man back

 

i am simply informing the board that this is a proven fake macho LIE!

Antiman, Dont tell us of your experiences. WE do respect your kind.  Even Obama says it is OK.  AS Seignet says, come out, we will all support you and respect your way of life.  Your constant attempt to come out has been noted. Please feel free to join Elton John and come out and let the pressure off.

banna, i hope u not so stupid as to dare me to retrieve the relevant posts and expose yuh bleeding bt for all the world to see, rite?

FM
Originally Posted by redux:
Originally Posted by Nehru:
Originally Posted by redux:
Originally Posted by Nehru:
YOU ARE A CERTIFIED BATTY BOY. YOU NEVER START A SENTENCE WITH HAVING THE WORD BATTY. YUH DOES TEK THING NIGHT AND DAY. WHEN DO YOU REST AND WHERE YOU GET GUYS TO DO IT DAY AND NIGHT???

banna, is nah u does boast on this BB that u does 'pitch' fuh money with man but doan 'catch' ??

 

bt sellers like u tell your poor wives dat wan whenever alyuh get ketch climbing pan man back

 

i am simply informing the board that this is a proven fake macho LIE!

Antiman, Dont tell us of your experiences. WE do respect your kind.  Even Obama says it is OK.  AS Seignet says, come out, we will all support you and respect your way of life.  Your constant attempt to come out has been noted. Please feel free to join Elton John and come out and let the pressure off.

banna, i hope u not so stupid as to dare me to retrieve the relevant posts and expose yuh bleeding bt for all the world to see, rite?

HEHEHE  Batty Boy, go ahead make my day.

Nehru
Originally Posted by Nehru:
Originally Posted by redux:
Originally Posted by Nehru:
Originally Posted by redux:
Originally Posted by Nehru:
YOU ARE A CERTIFIED BATTY BOY. YOU NEVER START A SENTENCE WITH HAVING THE WORD BATTY. YUH DOES TEK THING NIGHT AND DAY. WHEN DO YOU REST AND WHERE YOU GET GUYS TO DO IT DAY AND NIGHT???

banna, is nah u does boast on this BB that u does 'pitch' fuh money with man but doan 'catch' ??

 

bt sellers like u tell your poor wives dat wan whenever alyuh get ketch climbing pan man back

 

i am simply informing the board that this is a proven fake macho LIE!

Antiman, Dont tell us of your experiences. WE do respect your kind.  Even Obama says it is OK.  AS Seignet says, come out, we will all support you and respect your way of life.  Your constant attempt to come out has been noted. Please feel free to join Elton John and come out and let the pressure off.

banna, i hope u not so stupid as to dare me to retrieve the relevant posts and expose yuh bleeding bt for all the world to see, rite?

HEHEHE  Batty Boy, go ahead make my day.

Notice how de bwoy keeps track of batty posts.

FM
Originally Posted by Nehru:
Originally Posted by redux:
Originally Posted by Nehru:
Originally Posted by redux:
Originally Posted by Nehru:
YOU ARE A CERTIFIED BATTY BOY. YOU NEVER START A SENTENCE WITH HAVING THE WORD BATTY. YUH DOES TEK THING NIGHT AND DAY. WHEN DO YOU REST AND WHERE YOU GET GUYS TO DO IT DAY AND NIGHT???

banna, is nah u does boast on this BB that u does 'pitch' fuh money with man but doan 'catch' ??

 

bt sellers like u tell your poor wives dat wan whenever alyuh get ketch climbing pan man back

 

i am simply informing the board that this is a proven fake macho LIE!

Antiman, Dont tell us of your experiences. WE do respect your kind.  Even Obama says it is OK.  AS Seignet says, come out, we will all support you and respect your way of life.  Your constant attempt to come out has been noted. Please feel free to join Elton John and come out and let the pressure off.

banna, i hope u not so stupid as to dare me to retrieve the relevant posts and expose yuh bleeding bt for all the world to see, rite?

HEHEHE  Batty Boy, go ahead make my day.

aritey den . . . doing so rite now

FM
Last edited by Former Member
Originally Posted by Drugb:
Originally Posted by warrior:
 

when the ppp was giving out mortgage like its a toy their were warn that the market will crash it happen in north america and it will happen in guyana  they try to prostrate that the country was developing fooling the people is a communist trick 

You seem to be quite an ignorant person. The PPP didn't give out mortgages, it was the private banks which had confidence in the economy under the PPP rule. Now the hard luck afc/apnu in charge, the economy has tanked and people are now defaulting, clearly the blame is at the feet of this new government who inherited a vibrant economy and turned it into a colossal failure. 

one more ass who own NBS AND EVERY BANK WAS INFLUENCE   BY THE GOVERNMENT to give out mortgages 

FM

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