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Reply to "China lift 700M out of poverty, Guyana can’t lift 700,000"

Bibi Haniffa posted:
Prashad posted:

Bibi what Guyana has to worry about is inflation and the oil syndrome.  Inflation with the money coming in and people depending too much on oil not on agriculture and other important industries like what happened in Venezuela and Libya. Just before Gaddafi was overthrown in Libya they had an unemployment rate of 20 percent because of declining oil prices.  Gaddafi was giving the population oil money cheques from royalty investments to keep them surviving.

Correct.  The economy must be diversified.  Inflation is a big worry.  Right now Guyana central bank is buying currency from commercial banks to keep the economy afloat.  There is a serious decline in foreign exchange as a result of the depletion from revenue coming in from sugar.  It’s one of the reasons the PPP subsidized the sugar industry.  It was a much needed source of foreign exchange.  

It’s great to see you retained some of the knowledge I imparted in you when we were belly to belly. 

On that, unfortunately the PPP never articulated this case properly to the Guyanese people. In fact, even at the NY event where the question came up, BJ made it sound like a case of Social Responsibility as opposed to sound economic justification.  This feeds into the arguments of the PNC that it’s a drain.  

On economic diversification true, that’s badly needed however, your boy BJ choose to double-down on sugar with the EU money. That money should have been used to convert some of the capabilities to other viable export oriented crops.  

In the end, the sad fate of the sugar workers lie with both the PPP and PNC.  The PPP used them as a political tool and the PNC abused them to get back at the PPP. There are no heroes just victims!

Last edited by Baseman

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