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March 13, 2017 Source

Oftentimes the homemaker (home economist) through purchasing and bargaining ability will send indicators as to the state of the economy. Minister of Finance Winston Jordan acknowledged the economy is contracting. Every economy has its boom and bust periods, and planners have the opportunity to not only put systems in place to cushion the effect, but also to devise strategies that would jump start and allow its rise. Failure in doing this would result in an economy being in the doldrums for prolonged period.


The truth is for years Guyana has been deprived of an Economic Plan that addressed a holistic approach to development. Outside of the Self-Sufficiency Programme (Feed, Cloth and House) and the Structural Adjustment Programme (Economic Recovery) which were implemented; the National Development Strategy and the Guyana 21 programmes have had no such opportunity. And where the vacuum exists in implementing a developmental strategy, erratic approaches to development followed, which have been the bane of Guyana ever since.
Ours is the unenviable reputation of having the longest structural adjustment programme in the western hemisphere.

This programme was implemented in 1989 by the Desmond Hoyte administration,and successive People’s Progressive Party/Civic governments did nothing to replace it. Instead, for years, though it would want to be denied, the parallel economy was allowed to play a buffering role. This was facilitated and masked by relaxing the enforcement of laws, including revenue collections, and abolishing a progressive tax system, replacing it by a flat tax of (33.3 percent) that saw primarily those in the formal economy having to carry the government.


The circulating of ill-gotten gains provided false security that the economy was active when in fact it has been insipid for years. Reliance on some knee-jerk injections such as tax incentives to party promoters where revellers through attendance and spending power provided revenue for the fashion, food and beverage sectors becoming an ‘economic programme.’ This pretence masked the inability to be visionary, think big, and long term. The pan-handling (international begging) approach as a developmental strategy, utilised by the past administration, not only exposed an inability to be futuristic but reduced the country’s respect in the eyes of others.


And while it cannot be doubted that the absence of confidence in an economy and concern about the leadership and political climate are disincentives to attracting investment and bringing about growth, at the same time legitimate business would shy away from investing in an economy where the underworld holds significant sway and influence. Outside of these, corruption and throwing money behind bad projects would hinder economic vibrancy.


A country where leadership, even as it acknowledges global market forces would determine free movement of goods and services, in the absence of a counter-balance through incentives and creating other enabling features for local ingenuity to blossom, overtime the economy is adversely impacted. Guyana should never be at the stage where it sees as better, cheaper, or more reliable having foreign produced plantain chips, tamarind balls, fried channa, rice, coconut milk, and so forth in our markets.


A country with so much resources, including human capital, has the ability to look beyond the confines of traditional sourcing of revenue to stimulate and grow an economy. Guyana needs a holistic programme that will factor in every facet of its human development, and presented in a format as was done in the Self-sufficiency Programme, Economic Recovery Programme, the National Development Strategy, and Guyana 21. As Minister Jordan has said “all that glitters is not gold”, referencing that which obtained under the past administrations.

He said the issue was one of sustainability and noted that Guyana’s economy was growing but at the time the APNU+AFC coalition government took office “it was running on fumes “and Jordan attributed that to the fact that Guyana has not diversified its economic activities after 50 years of independence and continues to be dependent on traditional sectors: rice, sugar, timber, gold, bauxite and fish.


The minister posited that some of the very industries that sustained the country’s economy have collapsed and at this point the economy has to “ripe itself”,something he says cannot be done overnight.  “If we ourselves don’t adjust the economy, then we are just going to have to hand it over to somebody else to do it,” Jordan added,noting that “the ordinary man may not feel it like he had four years ago.” The reality he said was that the economy was ripening itself and Guyana had to prepare the economy for “the take-off.”

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Guyana’s economy has to “right” itself – Jordan

…admits to shortfall in economy

Source


While the ordinary man may feel that the country’s economic standard is deteriorating, Finance Minister Winston Jordan has assured that the existing state of affairs is an indication that the economy is in fact “righting” itself.

The Minister made the disclosure during an interview on a local radio program “Jumpstart” on Monday where he discussed exclusively the fiscal matters of the country.

 

Minister of Finance, Winston Jordan

According to Jordan, it would seem that some five years ago, the economy was moving ahead, however, there has not been much sustainability, and that the sectors that once propelled the economy, have now lost their way.
“The same things that was generating the growth, after 50 years they still remained. (Rice, sugar, gold, forestry, bauxite). A number of these sectors have collapsed…banks that loaned to these sectors will also have a difficult time doing business in the future because the resources are not there and their bad loan have gone up,” Jordan said.
According to him, the economy has to right itself, but yet, cannot do so on its own.
“For persons who went through the 80’s and 90’s of the restructuring of the economy by the IMF (International Monetary Fund) , if we don’t adjust the economy, we will have to hand it over to somebody to do it,” the Finance Minister said.Jordan related that during this period, the economy has to be prepared for what is called the “take off” because on the horizon, there is high inflow of foreigners to the country and “we have to prepare the economy for that”.
The Minister said Government has to move ahead and get its $250 billion 2017 National Budget going. This, he said, is currently stymied by numerous factors including transparency and scrutiny.Meanwhile, Jordan said Guyana’s economy is not where it needs to be, it does not stand alone, especially when compared with neighboring countries.


“We know of Suriname, Trinidad, and Barbados which recently had to fire its governor. They had to hire their former Prime Minister Owen Arthur as their chief economic adviser to help them come out of their troubles…Venezuela we know what is going on there and Brazil has its issues,” Jordan said.


He continued that in all of these “oceans of problems”, Guyana remains a light of progress. He reminded that last November Government had projected a 2.6 per cent growth but with the actual numbers coming in now, the economy saw a 3.2 per cent growth last year, which he said was better than 2015.
“While this growth was led by gold, there was some good showing in the Agriculture Sector, other crops sector and a last push to the last half of the year through the implementation of the public sector program, gave a little bump over the edge,” he said.

Foreign exchange

The Finance Minister meanwhile admitted that there have been some issues with foreign exchange, however he maintained that there remains a reserve of over $600 million in the country’s central bank. He said the rates have been stabilized, although with a depreciation between $210 and $215.
As it relates to the reports of shortages in foreign exchange here, Jordan reminded that it is gold that is generating the foreign exchange.
“There is a couple of big gold dealers, and some of them do not declare the rightful amount they get from overseas and the BoG Governor is trying to work with them”. He said the law provides that all foreign exchange must be declared to a bank for exporters.
Jordan lamented that sectors areas that had a huge hand in bringing in foreign exchange are not there. However, despite that, the holdings of Foreign exchange in the commercial banks have not reduced in any way significant, he assured.

Django

Only now these jackasses realize that the dependence on agriculture and mining is poor economic planning. When they were in opposition they screamed that they had the answers. Now they sent out their slop can carriers to make excuses for the downward spiraling economy. 

FM
Drugb posted:

Only now these jackasses realize that the dependence on agriculture and mining is poor economic planning. When they were in opposition they screamed that they had the answers. Now they sent out their slop can carriers to make excuses for the downward spiraling economy. 

Aren't you tired of embarrassing your self,blaming the under 2 yr current administration.

read here

No wonder you are a low achiever,sticking your nose between BJ crack causing the noodles between your ears to dry up added with the bullying that damaged your psyche at Saints,you should take a hike from GNI and R&R.

Django
Last edited by Django
Django posted:
Drugb posted:

Only now these jackasses realize that the dependence on agriculture and mining is poor economic planning. When they were in opposition they screamed that they had the answers. Now they sent out their slop can carriers to make excuses for the downward spiraling economy. 

Aren't you tired of embarrassing your self,blaming the under 2 yr current administration.

read here

No wonder you are a low achiever,sticking your nose between BJ crack causing the noodles between your ears to dry up added with the bullying that damaged your psyche at Saints,you should take a hike from GNI and R&R.

You sure you want to go there? You r@ass look fuh wah you get.

FM
skeldon_man posted:
Django posted:
Drugb posted:

Only now these jackasses realize that the dependence on agriculture and mining is poor economic planning. When they were in opposition they screamed that they had the answers. Now they sent out their slop can carriers to make excuses for the downward spiraling economy. 

Aren't you tired of embarrassing your self,blaming the under 2 yr current administration.

read here

No wonder you are a low achiever,sticking your nose between BJ crack causing the noodles between your ears to dry up added with the bullying that damaged your psyche at Saints,you should take a hike from GNI and R&R.

You sure you want to go there? You r@ass look fuh wah you get.

Django,put on his G belt,that warrior hurling insults behind a key board ,gonna have a tough time.

When ever the prick change,i will restrain myself.

Django
Last edited by Django
Django posted:
skeldon_man posted:
Django posted:
Drugb posted:

Only now these jackasses realize that the dependence on agriculture and mining is poor economic planning. When they were in opposition they screamed that they had the answers. Now they sent out their slop can carriers to make excuses for the downward spiraling economy. 

Aren't you tired of embarrassing your self,blaming the under 2 yr current administration.

read here

No wonder you are a low achiever,sticking your nose between BJ crack causing the noodles between your ears to dry up added with the bullying that damaged your psyche at Saints,you should take a hike from GNI and R&R.

You sure you want to go there? You r@ass look fuh wah you get.

Django,put on his G belt,that warrior hurling insults behind a key board ,gonna have a tough time.

When ever that prick change,i will restrain myself.

Cussin' down a poster is signalling that you cannot match arguments with him. You last resort is to cuss him down. You can still express yourself without the cussin'.

FM
skeldon_man posted:
Django posted:
 

Django,put on his G belt,that warrior hurling insults behind a key board ,gonna have a tough time.

When ever that prick change,i will restrain myself.

Cussin' down a poster is signalling that you cannot match arguments with him. You last resort is to cuss him down. You can still express yourself without the cussin'.

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Django
Last edited by Django
Django posted:
skeldon_man posted:
Django posted:
 

Django,put on his G belt,that warrior hurling insults behind a key board ,gonna have a tough time.

When ever that prick change,i will restrain myself.

Cussin' down a poster is signalling that you cannot match arguments with him. You last resort is to cuss him down. You can still express yourself without the cussin'.

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Arite bai. You sound like you bad to the bone. I don't want to be labeled a prick and floored. Not that I have haven't been called one before.

FM

Django is retaliating just as I would because some of these pricks seem to get away with vulgar name calling etc while others just have to post something that could construed as a lie and be benched. Sometimes it is better to let them carry on with their filth but it feels good when you dish it back to dem rass. 

As i said before, it is too bad after one is blocked we still see their crap whenever they are quoted by another poster.

cain
Django posted:
skeldon_man posted:
Django posted:
 

Django,put on his G belt,that warrior hurling insults behind a key board ,gonna have a tough time.

When ever that prick change,i will restrain myself.

Cussin' down a poster is signalling that you cannot match arguments with him. You last resort is to cuss him down. You can still express yourself without the cussin'.

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Rass bai, like somebady ruffle yuh feathers today. At your age you might just drop down and dead if the man put wan lash pun yuh rass. 

FM
cain posted:

Django is retaliating just as I would because some of these pricks seem to get away with vulgar name calling etc while others just have to post something that could construed as a lie and be benched. Sometimes it is better to let them carry on with their filth but it feels good when you dish it back to dem rass. 

As i said before, it is too bad after one is blocked we still see their crap whenever they are quoted by another poster.

Agreed, all them vulgar bais should be banned. However I notice that you and django fall into this category, don't don't throw stones if you live in glass house. 

FM

Developing a broad-based and well diversified economy is everyone's talk these days. Our present government speaks about loudly to score political points and many of us cheer. Most of us know the government is counting on one thing to enrich Guyana's economy and I don't have to mention it. It's coming in a matter of years and in spite of the common talk about diversification of the economy all that we are seeing is a plan to depend solely on one thing to sustain us. In the mean time the population are being taxed to death to keep food on the table until the lottery winnings start to stream in.  I think we as a nation will be disappointed with the promise that oil will solve all of our problems.  I think it will be too late to when we realize that other areas of our economy can generate vast amount wealth.  

 

Billy Ram Balgobin
Drugb posted:
Django posted:
skeldon_man posted:
Django posted:
 

Django,put on his G belt,that warrior hurling insults behind a key board ,gonna have a tough time.

When ever that prick change,i will restrain myself.

Cussin' down a poster is signalling that you cannot match arguments with him. You last resort is to cuss him down. You can still express yourself without the cussin'.

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Rass bai, like somebady ruffle yuh feathers today. At your age you might just drop down and dead if the man put wan lash pun yuh rass. 

There you go,you think it's simple.

Django
Drugb posted:
cain posted:

Django is retaliating just as I would because some of these pricks seem to get away with vulgar name calling etc while others just have to post something that could construed as a lie and be benched. Sometimes it is better to let them carry on with their filth but it feels good when you dish it back to dem rass. 

As i said before, it is too bad after one is blocked we still see their crap whenever they are quoted by another poster.

Agreed, all them vulgar bais should be banned. However I notice that you and django fall into this category, don't don't throw stones if you live in glass house. 

Pricks like you is the cause,labeling posters.

Django
Django posted:
Drugb posted:
Django posted:

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Rass bai, like somebady ruffle yuh feathers today. At your age you might just drop down and dead if the man put wan lash pun yuh rass. 

There you go,you think it's simple.

at 5' 7" 165lb, what is your fat percentage?  That man you want to fight used to be a boxer, he might just knock your head off with a left jab, followed by a right cross hook and swift uppercut straight up the pike.  He can run, true but his hands are lightning fast too. hahahahha

FM
Django posted:
Drugb posted:
cain posted:

Django is retaliating just as I would because some of these pricks seem to get away with vulgar name calling etc while others just have to post something that could construed as a lie and be benched. Sometimes it is better to let them carry on with their filth but it feels good when you dish it back to dem rass. 

As i said before, it is too bad after one is blocked we still see their crap whenever they are quoted by another poster.

Agreed, all them vulgar bais should be banned. However I notice that you and django fall into this category, don't don't throw stones if you live in glass house. 

Pricks like you is the cause,labeling posters.

Who is the one labeling now?  When one gets into the mud they can't help but get dirty.  What name that man ever called you?

FM
cain posted:

I could teach you some boxing moves deh Django, even throw in some judo throws fo good measure.

I bet I could put a whopping on both you and django(two geriatrics), at the same time, with one hand tied behind my back. 

FM
Drugb posted:
cain posted:

I could teach you some boxing moves deh Django, even throw in some judo throws fo good measure.

I bet I could put a whopping on both you and django(two geriatrics), at the same time, with one hand tied behind my back. 

Banna give it a rest don't under estimate.

You are 52 yrs old,over exercising your body and thinks you make more powerful is foolish thought.

A Karateka conditions his mind,body [not with strenuous exercises],studies the weak points of a human body,can defend it when attacked,uses minimal force to make his opponent motionless.It's an age old study,if weapons are used [not Guns] two pieces of wood with a string at both ends tied together is very detrimental to the attacker.

Boxers don't do that,it's a different sport.

Django
Last edited by Django
Django posted:
Drugb posted:
cain posted:

I could teach you some boxing moves deh Django, even throw in some judo throws fo good measure.

I bet I could put a whopping on both you and django(two geriatrics), at the same time, with one hand tied behind my back. 

Banna give it a rest don't under estimate.

You are 52 yrs old,over exercising your body and thinks you make more powerful is foolish thought.

A Karateka conditions his mind,body [not with strenuous exercises],studies the weak points of a human body,can defend it when attacked,uses minimal force to make his opponent motionless.It's an age old study,if weapons are used [not Guns] two pieces of wood with a string at both ends tied together is very detrimental to the attacker.

Boxers don't do that,it's a different sport.

Man, you dudes are serious weapons. I pack some heat. At 5' 6" and 135 pounds, I am blow blow to you guys. That said, my chest muscles did not drop down below my waist. Still maintain a 31" waist.

FM
Drugb posted:
cain posted:

I could teach you some boxing moves deh Django, even throw in some judo throws fo good measure.

I bet I could put a whopping on both you and django(two geriatrics), at the same time, with one hand tied behind my back. 

My money will be on Drugb. They don't call him the iron koolie for nothing.

Prashad
Django posted:

Banna give it a rest don't under estimate.

You are 52 yrs old,over exercising your body and thinks you make more powerful is foolish thought.

A Karateka conditions his mind,body [not with strenuous exercises],studies the weak points of a human body,can defend it when attacked,uses minimal force to make his opponent motionless.It's an age old study,if weapons are used [not Guns] two pieces of wood with a string at both ends tied together is very detrimental to the attacker.

Boxers don't do that,it's a different sport.

If you follow mma or UFC you will see that karate guys don't do too well. In fact due to their fluidity, boxers can adapt with training in jujitsu and wrestling. Meanwhile the karateka will depend on short bursts of flurries and risky kick maneuvers.

FM
Drugb posted:

Only now these jackasses realize that the dependence on agriculture and mining is poor economic planning. . 

Your hero Jagdeo had over 20 years to make that change, starting with when he was Minister of Finance. You scream that he is an economic wizard (when the only wizard he is chief wizard of the Indo KKK).

FM
Django posted:
skeldon_man posted:
Django posted:
 

Django,put on his G belt,that warrior hurling insults behind a key board ,gonna have a tough time.

When ever that prick change,i will restrain myself.

Cussin' down a poster is signalling that you cannot match arguments with him. You last resort is to cuss him down. You can still express yourself without the cussin'.

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Please hurry up and get to the gym.  At that height you have a good 30 lbs to lose.

Bibi Haniffa
Bibi Haniffa posted:
 

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Please hurry up and get to the gym.  At that height you have a good 30 lbs to lose.

Unless he is solid muscle which is doubtful given how insecure he is about himself 

FM
caribny posted:
. . 
 

Your hero Jagdeo had over 20 years to make that change, starting with when he was Minister of Finance. You scream that he is an economic wizard (when the only wizard he is chief wizard of the Indo KKK).

During Jaggy's time the country still had the subsidies and he was too busy with neutralizing the pnc freedom fighters. Jackass granger et al said they had the solution but we see you folks are blow horses. Pnc in charge now, they need to own this. Enough of passing the buck to the ppp.

FM
Drugb posted:
Bibi Haniffa posted:
 

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Please hurry up and get to the gym.  At that height you have a good 30 lbs to lose.

Unless he is solid muscle which is doubtful given how insecure he is about himself 

I am almost the same height as him.  I used to picture him as an over six feet tall person with an intimidating look.  With my heels on, I can drink soup on his head!!

Bibi Haniffa
Drugb posted:
Django posted:

Banna give it a rest don't under estimate.

You are 52 yrs old,over exercising your body and thinks you make more powerful is foolish thought.

A Karateka conditions his mind,body [not with strenuous exercises],studies the weak points of a human body,can defend it when attacked,uses minimal force to make his opponent motionless.It's an age old study,if weapons are used [not Guns] two pieces of wood with a string at both ends tied together is very detrimental to the attacker.

Boxers don't do that,it's a different sport.

If you follow mma or UFC you will see that karate guys don't do too well. In fact due to their fluidity, boxers can adapt with training in jujitsu and wrestling. Meanwhile the karateka will depend on short bursts of flurries and risky kick maneuvers.

I did Shotokan [Frank-Woon-A-Tai] and dabble a little with Jujitsu.

Any way i was taught to use the skills for defense and not used for battle,suh the flooring is called off.Now don't say i am backing out.

Django
Bibi Haniffa posted:
Django posted:
skeldon_man posted:
Django posted:
 

Django,put on his G belt,that warrior hurling insults behind a key board ,gonna have a tough time.

When ever that prick change,i will restrain myself.

Cussin' down a poster is signalling that you cannot match arguments with him. You last resort is to cuss him down. You can still express yourself without the cussin'.

I don't cuss no poster,I can match any arguments on this BB, been here a long time.

When some one labels they are the weakling,i have requested to refrain apparently the idiot thinks he have more power,he can't say that within 3 feet in my face this 64 yr old 5'7 165 lbs will floor him,he is an athlete expect him to run.

Please hurry up and get to the gym.  At that height you have a good 30 lbs to lose.

Not too much fat,belly grows a little in the winter,then summer gone down,plus weight drops a few pounds,I am active most of day lifting standing walking,no gym, me thinks too much strenuous exercise is recipe for heart attack,one of my friend got a heart attack on the thread mill, kaput,brain damage too late for the operating theater,he was in his early 40's.

Two each his own,i have my of exercise when young i use to push my body running,cycling,lifting weights no use of steroids.

No one believes i am 64 yrs,they reduce my age by 10 yrs.

Django
Last edited by Django
Drugb posted:

We should give him a break. After all he is 64 yr old with one foot in the grave

Banna kerr you r@ss,healthy as ever no problems,no medications,good genes and longevity from my ancestors.

You should think twice before uttering such statement,jokingly or not.

That's the ting about you,me thinks you are little loony.

Django
Django posted:
Drugb posted:
Django posted:

Banna give it a rest don't under estimate.

You are 52 yrs old,over exercising your body and thinks you make more powerful is foolish thought.

A Karateka conditions his mind,body [not with strenuous exercises],studies the weak points of a human body,can defend it when attacked,uses minimal force to make his opponent motionless.It's an age old study,if weapons are used [not Guns] two pieces of wood with a string at both ends tied together is very detrimental to the attacker.

Boxers don't do that,it's a different sport.

If you follow mma or UFC you will see that karate guys don't do too well. In fact due to their fluidity, boxers can adapt with training in jujitsu and wrestling. Meanwhile the karateka will depend on short bursts of flurries and risky kick maneuvers.

I did Shotokan [Frank-Woon-A-Tai] and dabble a little with Jujitsu.

Any way i was taught to use the skills for defense and not used for battle,suh the flooring is called off.Now don't say i am backing out.

"To subdue the enemy without fighting is the acme of skill" -Sun Tzu

GTAngler

Django bhai,

My roots go back to some hard core rum drinkers from Mahaica Creek who live in to their late eighties and nineties. Physical work, dahee and rice, and little concern for anything that causes stress. 

Billy Ram Balgobin
Billy Ram Balgobin posted:

Django bhai,

My roots go back to some hard core rum drinkers from Mahaica Creek who live in to their late eighties and nineties. Physical work, dahee and rice, and little concern for anything that causes stress. 

My Grandfather born 1896,gone at 74 yrs,my mom 83,three from that Generation surviving they are at 85, 80 and 75.

also Father side they gone at high numbers.

I remember Dahee and rice used to partake when i was little,that's the by product when they make Ghee for cooking.

 

Django

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