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March 24, 2017 Source

Following its Article IV consultation here earlier this month, the IMF says the local economy is expanding although growth was uneven and it urged a continuation of the sugar sector reform while attention is also paid to the risks of social dislocation.

A statement from the IMF follows:

Guyana’s economy continued to expand, although growth was uneven. In 2016, subdued agricultural commodity prices and adverse weather conditions led to a contraction of agriculture, with negative spillovers to manufacturing and services. Additionally, delays in public investment remained a drag on construction. Nevertheless, GDP was buoyed by very large increases in gold output, including from new mines, with total real GDP increasing by 3.3 percent despite a contraction in non-mining GDP. In 2017, the mission projects real economic growth of 3.5 percent driven by an increase in public investment, continued expansion in the extractive sector, and a recovery in rice production. Despite weather-related shocks to food prices and excess demand during Guyana’s Golden Jubilee, inflation remained subdued at 1.5 percent at end-2016, and is expected to be around 2.5 percent at end-2017.

Increased exports of gold and improved terms of trade helped Guyana achieve a current account surplus. In 2016, the current account balance improved to 3.5 percent of GDP from a 5.7 percent deficit in 2015, reducing the overall BOP deficit. Reserve coverage remained at about 3.5 months of imports. The anticipated start of oil production in 2020 will provide a significant boost to exports and official reserves in the medium-term.

The fiscal deficit widened relative to 2015, but was smaller than budgeted. The 2016 nonfinancial public sector deficit is estimated at 2.9 percent of GDP, lower than the budgeted 5.5 percent. Despite slower than expected growth, fiscal revenue increased due to improvements in tax administration and higher royalties from the mining sector. Expenditure increased less than projected mostly due to lower than budgeted public investment. In 2017, the deficit is projected to increase to about 7 percent of GDP, due in part to delayed capital spending from 2016 and the reclassification of subsidies to state owned enterprises as financing instead of revenue to the receiving enterprise.

The mission welcomed the authorities’ plans to establish a comprehensive legal framework for managing oil wealth. The authorities are preparing draft legislation for a fiscal regime for oil revenues, and a sovereign wealth fund. The IMF stands ready to provide technical advice in these areas. The mission commended the authorities for refraining from non-concessional external borrowing against future oil revenue and urged them to continue to maintain a prudent external debt stance. The mission encouraged the authorities to continue to strengthen public procurement and public investment management in line with international best practices. Improving the appraisal, selection and execution of projects could enhance the efficiency, timeliness and quality of public investment.

Fiscal consolidation would help slow debt accumulation before the onset of oil revenues. The debt-to-GDP ratio is projected to reach 61 percent of GDP by 2019. However, debt sustainability risks remain moderate. Authorities noted that the debt to GDP ratio will decline rapidly after the start of oil production, dropping to under 50 percent by 2020. The mission recommended fiscal adjustment to safeguard against downside risks. The adjustment could be achieved by curtailing the growth of current expenditure, supported by public enterprise reform. The mission welcomed the VAT reform which broadened the tax base while reducing the rate from 16 to 14 percent, and encouraged authorities to continue to strengthen tax administration. The mission also welcomed the authorities’ interest in issuing a long-term domestic bond to substitute for short-term domestic financing, and help develop capital markets. The mission stressed the importance of settling government balances at the Bank of Guyana (BoG). Going forward, authorities are encouraged to consolidate government accounts at the central bank and establish a Treasury Single Account in line with international best practices.

Sustaining growth hinges upon improvements to the business climate, private sector confidence, reinvigorating construction activity and productivity-enhancing reforms in key sectors, including agriculture. The mission welcomed the progress in liberalizing the communications sector, and the authorities’ plans to increase the contribution of low cost renewables to the energy matrix, improve transportation links, and modernize the payment system. Addressing these long-standing structural impediments will stimulate construction, help raise productivity in traditional sectors, facilitate diversification into higher added-value activities, and make growth more inclusive. The mission encouraged the authorities to press ahead with the overhaul of the sugar industry, while being mindful of the large social impact and providing a safety net to protect those affected by that process.

The monetary policy stance should remain accommodative given low inflationary pressures and weakness in economic activity.However, pass-through from the VAT reform to inflation should be closely monitored. Guyana remains vulnerable to external shocks due to its dependence on imported oil and the concentration of exports on a few commodities. The mission noted the recent increase in exchange rate flexibility, which should facilitate adjustment to external developments, and safeguard reserves. The inter-bank foreign exchange market appears segmented and illiquid, and could be further developed, including by enhancing the transparency of market activity. The mission recommends that any official foreign exchange purchases and sales use a market mechanism similar to the one used for auctioning treasury bills.

This year’s consultation included an in-depth assessment of Guyana’s financial sector under the IMF and the World Bank’s Financial Sector Assessment Program (FSAP).
Key findings include:

The financial oversight framework continues to be strengthened. The authorities have introduced a more structured approach to supervision, expanded the supervisory and regulatory perimeter, and drafted a Crisis Management Plan. The FSAP recommended making supervisory oversight, from routine supervision to intervention and resolution, internally consistent. The authorities are already taking steps in this direction.
Weak activity in a few key sectors led to a notable increase in Nonperforming Loans (NPLs), and a decline in private credit growth. While banks’ reported capital adequacy ratios and profitability are high, slow collateral recovery, unrecorded related-party exposures and loan misclassifications account for inadequate provisioning. The more timely and effective enforcements recently initiated by the BoG must be continued to address these supervisory gaps.
The BoG’s supervisory guidelines should be revised to eliminate reduced provisioning requirements for “well-secured” portions of NPLs. The BoG should also encourage banks to cease use of overdraft lending for commercial purposes; revise the definition of related parties to reflect international standards; and increase the minimum capital requirements from 8 to 12 percent of risk-weighted assets to enhance loss absorbency.
Banks’ strong interlinkages with the domestic and regional sovereigns; complex ownership structures; and substantial related-party lending can amplify potential shocks. Stress tests found the banking system resilient to severe shocks, but there are vulnerabilities in some institutions. Credit and deposit concentrations are high, and underpin the need for requiring banks to have contingency funding plans. Systemic risk assessment should track the ownership linkages of banks, private sector balance sheet strength, and house price growth.
Operationalizing the crisis management framework will require proper sequencing and substantial amendments of the Financial Institutions Act (FIA). An effective resolution regime and a formal framework for emergency liquidity assistance are prerequisites for a Deposit Insurance Scheme. The FIA should give BoG powers and tools to carry out orderly resolution of banks and prevent Courts from reversing BoG’s actions.
Losses of correspondent banking relationships (CBRs) continue to be a major concern for trade finance and remittances. While Guyana has commendably exited the Financial Action Task Force monitoring and concluded a National Risk Assessment, it should continue to strengthen its Anti-Money Laundering and Combating the Financing of Terrorism framework in line with international standards. Stronger supervisory and regulatory regimes, in line with the FSAP recommendations, and regional CBR accounts to help international banks exploit economies of scale could help ameliorate the problem.
The FSAP also provided advice on strengthening insurance and pensions supervision, improving access to finance, and upgrading payments and settlement infrastructures to improve financial development.
The IMF Executive Board is expected to discuss Guyana’s Article IV consultation in late April 2017. The mission is grateful to the authorities and other Guyanese stakeholders for their availability, collaboration, and hospitality.

Replies sorted oldest to newest

Gold is the only thing that is saving Guyana right now.  Not sure how the government can take claim for the boost in production.  However, Guyana only gets the royalty the bulk of the money is shipped overseas.  So even though the GDP might increase the money does not stay to develop Guyana.

FM
VVP posted:

Gold is the only thing that is saving Guyana right now.  Not sure how the government can take claim for the boost in production.  However, Guyana only gets the royalty the bulk of the money is shipped overseas.  So even though the GDP might increase the money does not stay to develop Guyana.

Indeed so but to great environmental peril. I do not think Granger et al should contemplate expanding the mining leases to the Rupunini or the Irene as they may do to accommodate the complaint of miners who were kicked out of the Marudi mountains per the Australians establishing their claims by purchasing the rights from the Canadians. Most of those leases were block leases doled out to the PPP friends and family. BaiShanLin had some 105 claims! I think that has now been returned to the state.

FM
D2 posted:
VVP posted:

Gold is the only thing that is saving Guyana right now.  Not sure how the government can take claim for the boost in production.  However, Guyana only gets the royalty the bulk of the money is shipped overseas.  So even though the GDP might increase the money does not stay to develop Guyana.

Indeed so but to great environmental peril. I do not think Granger et al should contemplate expanding the mining leases to the Rupunini or the Irene as they may do to accommodate the complaint of miners who were kicked out of the Marudi mountains per the Australians establishing their claims by purchasing the rights from the Canadians. Most of those leases were block leases doled out to the PPP friends and family. BaiShanLin had some 105 claims! I think that has now been returned to the state.

Look ah rass hey,  in PPP time you were vocal against the miners, now you quietly condoning Granger's raping and destruction of the forest and robbery of Amerindian ancestral lands. Maybe you really are a white pretending to be buck.

FM
Drugb posted:
D2 posted:
VVP posted:

Gold is the only thing that is saving Guyana right now.  Not sure how the government can take claim for the boost in production.  However, Guyana only gets the royalty the bulk of the money is shipped overseas.  So even though the GDP might increase the money does not stay to develop Guyana.

Indeed so but to great environmental peril. I do not think Granger et al should contemplate expanding the mining leases to the Rupunini or the Irene as they may do to accommodate the complaint of miners who were kicked out of the Marudi mountains per the Australians establishing their claims by purchasing the rights from the Canadians. Most of those leases were block leases doled out to the PPP friends and family. BaiShanLin had some 105 claims! I think that has now been returned to the state.

Look ah rass hey,  in PPP time you were vocal against the miners, now you quietly condoning Granger's raping and destruction of the forest and robbery of Amerindian ancestral lands. Maybe you really are a white pretending to be buck.

It's real bad when someone reads and knows not what they have read but yet speak ill of it.

cain
cain posted:
Drugb posted:
D2 posted:
VVP posted:

Gold is the only thing that is saving Guyana right now.  Not sure how the government can take claim for the boost in production.  However, Guyana only gets the royalty the bulk of the money is shipped overseas.  So even though the GDP might increase the money does not stay to develop Guyana.

Indeed so but to great environmental peril. I do not think Granger et al should contemplate expanding the mining leases to the Rupunini or the Irene as they may do to accommodate the complaint of miners who were kicked out of the Marudi mountains per the Australians establishing their claims by purchasing the rights from the Canadians. Most of those leases were block leases doled out to the PPP friends and family. BaiShanLin had some 105 claims! I think that has now been returned to the state.

Look ah rass hey,  in PPP time you were vocal against the miners, now you quietly condoning Granger's raping and destruction of the forest and robbery of Amerindian ancestral lands. Maybe you really are a white pretending to be buck.

It's real bad when someone reads and knows not what they have read but yet speak ill of it.

That's right. Your buddy D2 is guilty as charged.

FM
cain posted:

It's real bad when someone reads and knows not what they have read but yet speak ill of it.

What a little vegetarian racist weakling like you know about anything? One good breeze and you would fall over. 

FM
Drugb posted:
D2 posted:
VVP posted:

Gold is the only thing that is saving Guyana right now.  Not sure how the government can take claim for the boost in production.  However, Guyana only gets the royalty the bulk of the money is shipped overseas.  So even though the GDP might increase the money does not stay to develop Guyana.

Indeed so but to great environmental peril. I do not think Granger et al should contemplate expanding the mining leases to the Rupunini or the Irene as they may do to accommodate the complaint of miners who were kicked out of the Marudi mountains per the Australians establishing their claims by purchasing the rights from the Canadians. Most of those leases were block leases doled out to the PPP friends and family. BaiShanLin had some 105 claims! I think that has now been returned to the state.

Look ah rass hey,  in PPP time you were vocal against the miners, now you quietly condoning Granger's raping and destruction of the forest and robbery of Amerindian ancestral lands. Maybe you really are a white pretending to be buck.

 Read again.....I do not think Granger et al should contemplate expanding the mining leases to the Rupunini or the Irene as they may do to accommodate the complaint of miners who were kicked out of the Marudi mountains per the Australians establishing their claims by purchasing the rights from the Canadians.

FM
Drugb posted:
cain posted:

It's real bad when someone reads and knows not what they have read but yet speak ill of it.

What a little vegetarian racist weakling like you know about anything? One good breeze and you would fall over. 

Knock-kneed, stick man talking....

FM

The gold mines coming on line were PPP initiated projects.  Imagine if the PPP was in place to see this thru and still have the agro-sector doing as it did under their watch.  The PNC is building a truly Congo-style economy!  This will all fall apart as soon as Gold prices changes!  Their is no economic depth here!

FM
D2 posted:
skeldon_man posted:

That's right. Your buddy D2 is guilty as charged.

like you mama is guilty of spawning a dunce!

Don't worry with my mama. She's dead and gone. Worry about your apes.

FM

The IMF surely had a lengthy write up of growth attributed to one area - gold only.  No continuation of agriculture where Guyana has a great potential.  What about tourism and other sectors?  I guess we will sit in our high seats and hope that gold continues this trend and then what?  Back to the old days of eating plantain and cassava. 

alena06
alena06 posted:

The IMF surely had a lengthy write up of growth attributed to one area - gold only.  No continuation of agriculture where Guyana has a great potential.  What about tourism and other sectors?  I guess we will sit in our high seats and hope that gold continues this trend and then what?  Back to the old days of eating plantain and cassava. 

Don't forget to mention remittance. The PNC/AFC never had any plans for Guyana's future other than raiding the nations coffers and piggy backing on PPP initiatives. They con their way into power with the gullible following them the children followed the Pied Piper to their doom. 

FM
Drugb posted:
alena06 posted:

The IMF surely had a lengthy write up of growth attributed to one area - gold only.  No continuation of agriculture where Guyana has a great potential.  What about tourism and other sectors?  I guess we will sit in our high seats and hope that gold continues this trend and then what?  Back to the old days of eating plantain and cassava. 

Don't forget to mention remittance. The PNC/AFC never had any plans for Guyana's future other than raiding the nations coffers and piggy backing on PPP initiatives. They con their way into power with the gullible following them the children followed the Pied Piper to their doom. 

Looks like Guyanese visiting from NA has dropped and remittances have gone dry? Foreign currency low.

FM
VVP posted:

Gold is the only thing that is saving Guyana right now.  ..

That has been true since 2007. Before then the economy was stagnant.  True economic growth ended with the Hoyte/Jagan reforms in the 90s.

FM
cain posted:
.

It's real bad when someone reads and knows not what they have read but yet speak ill of it.

Druggie only attended school in August. The rest of the year the Portuguese boys beat him out for being so stupid. Saints didn't have summer school so you understand his plight.

FM
ba$eman posted:

The gold mines coming on line were PPP initiated projects.  .!

In the midst of war mining companies operate in the DRC.  Sorry it isn't the PPP which can claim responsibility. Its the fact that God placed gold in a place called Guyana and companies came to exploit this resource as a result.

FM
skeldon_man posted:
.

Looks like Guyanese visiting from NA has dropped .

In fact tourism arrivals continue to increase.  The mere fact that CAL boasts that JFK GEO is its cash cow while Dynamic adds more flights should let you know.

And only Guyanese visit Guyana.

FM
skeldon_man posted:
Drugb posted:
alena06 posted:

The IMF surely had a lengthy write up of growth attributed to one area - gold only.  No continuation of agriculture where Guyana has a great potential.  What about tourism and other sectors?  I guess we will sit in our high seats and hope that gold continues this trend and then what?  Back to the old days of eating plantain and cassava. 

Don't forget to mention remittance. The PNC/AFC never had any plans for Guyana's future other than raiding the nations coffers and piggy backing on PPP initiatives. They con their way into power with the gullible following them the children followed the Pied Piper to their doom. 

Looks like Guyanese visiting from NA has dropped and remittances have gone dry? Foreign currency low.

Skelly,

Indos were the ones ending back the most foreign currency to Guyana. That is drying up now as they do not have any confidence in the PNC Dog Shyte Administration. 

They are awaiting for 2020 to start sending back money like oil. Imagine the PPP with money, oil and Milk flowing once again.

The PPP understands economics. The PNC understands, sport, wine down, spend, thief and waste. They cannot save for a rainy day. Just like Cain.

PNC gave Guyanese Black Tea. Their mouths are now bitter with PNC Black Tea. No more black tea for a majority of Guyanese in 2020.

FM
yuji22 posted:
.low.

Skelly,

Indos were the ones ending back the most foreign currency to Guyana. That is drying up now as they do not have any confidence in the PNC Dog Shyte Administration. 

.

So they will let their families starve in the mean time. Funny guy.

I suggest to you that declining remittances has more to do with declining ties as parents die, children grow up, and many who benefit from this join their relatives overseas. In addition overseas Guyanese have the same financial challenges as do others living in North America so have less disposable cash to spare as they pay their mortgages, educate their kids and prepare for their retirement.

FM
caribny posted:

I suggest to you that declining remittances has more to do with declining ties as parents die, children grow up, and many who benefit from this join their relatives overseas. In addition overseas Guyanese have the same financial challenges as do others living in North America so have less disposable cash to spare as they pay their mortgages, educate their kids and prepare for their retirement.

Remittance will decrease with a crackdown in drug trafficking and money laundering.  In theory the more people suffer in Guyana the higher the remittance should be and that is not happening.

FM
caribny posted:
ba$eman posted:

The gold mines coming on line were PPP initiated projects.  .!

In the midst of war mining companies operate in the DRC.  Sorry it isn't the PPP which can claim responsibility. Its the fact that God placed gold in a place called Guyana and companies came to exploit this resource as a result.

This is the most inane statement you have made. I thought that you are smarter than what you indicated in this post. The gold would have stayed in the ground if the right conditions did not exist for investment which led to mining.

Z
Zed posted:
caribny posted:
ba$eman posted:

The gold mines coming on line were PPP initiated projects.  .!

In the midst of war mining companies operate in the DRC.  Sorry it isn't the PPP which can claim responsibility. Its the fact that God placed gold in a place called Guyana and companies came to exploit this resource as a result.

This is the most inane statement you have made. I thought that you are smarter than what you indicated in this post. The gold would have stayed in the ground if the right conditions did not exist for investment which led to mining.

What conditions were those Zed? Wan ounce for you, wan ounce for me  How come declared gold production is skyrocketing?

FM
Last edited by Former Member
skeldon_man posted:
D2 posted:
skeldon_man posted:

That's right. Your buddy D2 is guilty as charged.

like you mama is guilty of spawning a dunce!

Don't worry with my mama. She's dead and gone. Worry about your apes.

I really do not know what that is supposed to mean but I guess the reference is to my wife and son. Well, my kid is possibly lighter complected than you and definitely far prettier. My wife is damn pretty also. In any event, we are all naked apes or have you forgotten?

I am always astounded that a member of the dalit clan can recast himself or herself as something superior caste given their 6000 years in pure subaltern hell. But some do live in their own reality.

 

FM
Last edited by Former Member
VVP posted:
Zed posted:
caribny posted:
ba$eman posted:

The gold mines coming on line were PPP initiated projects.  .!

In the midst of war mining companies operate in the DRC.  Sorry it isn't the PPP which can claim responsibility. Its the fact that God placed gold in a place called Guyana and companies came to exploit this resource as a result.

This is the most inane statement you have made. I thought that you are smarter than what you indicated in this post. The gold would have stayed in the ground if the right conditions did not exist for investment which led to mining.

What conditions were those Zed? Wan ounce for you, wan ounce for me  How come declared gold production is skyrocketing?

I do not have any evidence of such a deal. I was referring to confidence, financial stability. Investment being protected, etc. Please share if you know of one instance of this. I have heard the same but has had no one verify withbconcrete evidence.

Gold production increased because of new large scale mining operation coming on stream.

Z

It was not a question of confidence and financial stability it was the "ease" of doing business where we ended up with the Omai spill and rape of forest reserve for minuscule benefit.

How were the PPP ministers able to build mansions and drive Lexus on their salaries?  Since you are in Guyana you could figure it out and let me know.

FM
D2 posted:
skeldon_man posted:
D2 posted:
skeldon_man posted:

That's right. Your buddy D2 is guilty as charged.

like you mama is guilty of spawning a dunce!

Don't worry with my mama. She's dead and gone. Worry about your apes.

I really do not know what that is supposed to mean but I guess the reference is to my wife and son. Well, my kid is possibly lighter complected than you and definitely far prettier. My wife is damn pretty also. In any event, we are all naked apes or have you forgotten?

I am always astounded that a member of the dalit clan can recast himself or herself as something superior caste given their 6000 years in pure subaltern hell. But some do live in their own reality.

 

Post your family's pictures. You lie so much that you believe your own lies. Get real.

FM
VVP posted:
caribny posted:

I suggest to you that declining remittances has more to do with declining ties as parents die, children grow up, and many who benefit from this join their relatives overseas. In addition overseas Guyanese have the same financial challenges as do others living in North America so have less disposable cash to spare as they pay their mortgages, educate their kids and prepare for their retirement.

Remittance will decrease with a crackdown in drug trafficking and money laundering.  In theory the more people suffer in Guyana the higher the remittance should be and that is not happening.

Remittance dropped from the a high of 500 million to just above 400 million coinciding with the GW recession. It has not picked back up for many reasons. I think most of us has already taken that one trip back and realize how lazy and how absolutely predatory those folks at home are. I give a fixed amount and expect them to do what I ask promptly or they are cut off.

FM
D2 posted:
VVP posted:
caribny posted:

I suggest to you that declining remittances has more to do with declining ties as parents die, children grow up, and many who benefit from this join their relatives overseas. In addition overseas Guyanese have the same financial challenges as do others living in North America so have less disposable cash to spare as they pay their mortgages, educate their kids and prepare for their retirement.

Remittance will decrease with a crackdown in drug trafficking and money laundering.  In theory the more people suffer in Guyana the higher the remittance should be and that is not happening.

Remittance dropped from the a high of 500 million to just above 400 million coinciding with the GW recession. It has not picked back up for many reasons. I think most of us has already taken that one trip back and realize how lazy and how absolutely predatory those folks at home are. I give a fixed amount and expect them to do what I ask promptly or they are cut off.

Very True!  I heard some of the solar panels installed in the interior by the GOG have been stolen.

Billy Ram Balgobin
skeldon_man posted:
D2 posted:
skeldon_man posted:
D2 posted:
skeldon_man posted:

That's right. Your buddy D2 is guilty as charged.

like you mama is guilty of spawning a dunce!

Don't worry with my mama. She's dead and gone. Worry about your apes.

I really do not know what that is supposed to mean but I guess the reference is to my wife and son. Well, my kid is possibly lighter complected than you and definitely far prettier. My wife is damn pretty also. In any event, we are all naked apes or have you forgotten?

I am always astounded that a member of the dalit clan can recast himself or herself as something superior caste given their 6000 years in pure subaltern hell. But some do live in their own reality.

 

Post your family's pictures. You lie so much that you believe your own lies. Get real.

Why would my kid picture interest you a bloody bigot who already called him an ape when I am sure he is better looking than anything you spawned.  The kid is an Auto engineer. He travels all over the world because he designs cars. He has women falling all over him but still hangs on to his girlfriend from high school.I would not post a picture of him for your gawking eyes. You do not matter.

FM
Last edited by Former Member
VVP posted:

It was not a question of confidence and financial stability it was the "ease" of doing business where we ended up with the Omai spill and rape of forest reserve for minuscule benefit.

How were the PPP ministers able to build mansions and drive Lexus on their salaries?  Since you are in Guyana you could figure it out and let me know.

Sorry pal there will not be an answer,your request was '4 hrs ago'

Django
D2 posted:
skeldon_man posted:
D2 posted:
skeldon_man posted:
D2 posted:
skeldon_man posted:

That's right. Your buddy D2 is guilty as charged.

like you mama is guilty of spawning a dunce!

Don't worry with my mama. She's dead and gone. Worry about your apes.

I really do not know what that is supposed to mean but I guess the reference is to my wife and son. Well, my kid is possibly lighter complected than you and definitely far prettier. My wife is damn pretty also. In any event, we are all naked apes or have you forgotten?

I am always astounded that a member of the dalit clan can recast himself or herself as something superior caste given their 6000 years in pure subaltern hell. But some do live in their own reality.

 

Post your family's pictures. You lie so much that you believe your own lies. Get real.

Why would my kid picture interest you a bloody bigot who already called him an ape when I am sure he is better looking than anything you spawned.  The kid is an Auto engineer. He travels all over the world because he designs cars. He has women falling all over him but still hangs on to his girlfriend from high school.I would not post a picture of him for your gawking eyes. You do not matter.

Men! you love to brag about yourself and family.  Do the right thing and post a picture of yourself. We ain't gonna get scared and run from the forum. We've seen enough ugliness on GNI to immune us. 

Billy Ram Balgobin
VVP posted:

It was not a question of confidence and financial stability it was the "ease" of doing business where we ended up with the Omai spill and rape of forest reserve for minuscule benefit.

How were the PPP ministers able to build mansions and drive Lexus on their salaries?  Since you are in Guyana you could figure it out and let me know.

Large, predatory multinationals were given a free run. The PPP considered the money they spent in extracting our non renewable resources sufficient earnings. They never encourage best practices for their citizen workers. Amerindians were working for heart of palm companies and paid in cigarettes in instances.  On other occasion the companies ran pre payment scam so they workers get high priced products up front and on the back end they get nothing so they were literally enslaved to these logging and mining companies. The Chinese at baramita had 11 pregnant amerind girls, some as young as 10. Nothing was done.

On top of that lax oversight allowed Sambling timbers to work under many names and to even use leases from others in land lording deals. The mining company Vanessa gold got into Amerind lands because the PPP plied the chief with rum and he signed over his peoples land. The Amerindian minister took the Chinese into the north west to to facilitate a deal where they get lease of Amerindian lands for warehousing logs for 25 years for some 25 cents an acre per year. She did not advise them they needed a lawyer.

The PPP just wanted the appearance of progress while underneath that marauding gang was stealing us blind with graft and pay for play deal. Who in their right mind would let Guyanese struggle on the unemployment lines while bringing in hundreds of Chinese laborers. Surely a Guyanese could drive some nails at the Marriott but they were contractually banned from that. The PPP stinks.

FM
Last edited by Former Member
Billy Ram Balgobin posted:
D2 posted:
skeldon_man posted:
D2 posted:
skeldon_man posted:
D2 posted:
skeldon_man posted:

That's right. Your buddy D2 is guilty as charged.

like you mama is guilty of spawning a dunce!

Don't worry with my mama. She's dead and gone. Worry about your apes.

I really do not know what that is supposed to mean but I guess the reference is to my wife and son. Well, my kid is possibly lighter complected than you and definitely far prettier. My wife is damn pretty also. In any event, we are all naked apes or have you forgotten?

I am always astounded that a member of the dalit clan can recast himself or herself as something superior caste given their 6000 years in pure subaltern hell. But some do live in their own reality.

 

Post your family's pictures. You lie so much that you believe your own lies. Get real.

Why would my kid picture interest you a bloody bigot who already called him an ape when I am sure he is better looking than anything you spawned.  The kid is an Auto engineer. He travels all over the world because he designs cars. He has women falling all over him but still hangs on to his girlfriend from high school.I would not post a picture of him for your gawking eyes. You do not matter.

Men! you love to brag about yourself and family.  Do the right thing and post a picture of yourself. We ain't gonna get scared and run from the forum. We've seen enough ugliness on GNI to immune us. 

Why dont you do it? I dont have to brag about my family. I accept you or that fellow calling my wife and kid apes do not matter. If you live among ugliness so be it.

FM

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