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FM
Former Member

Guyana’s economic decline “beyond advise”

… Govt should focus on village economies – Gaskin

BY ALEXIS RODNEY

Political Commentator and Economist Ramon Gaskin says the health of Guyana’s economy is deteriorating as he called upon the A Partnership for National Unity/Alliance for Change (APNU/AFC) Government to redirect its focus on the local communities, to unearth ways of stimulating the economy. This is the same advice proffered by Opposition Leader Bharrat Jagdeo and the Opposition People’s Progressive Party/Civic (PPP/C).

Asked if the current Finance Minister was receiving bad advice as to how to deal with the matter, Gaskin said that the situation was “beyond advice” as Guyana’s deep economic downturn has had a severe effect on the production levels of the major industries, including the rice, sugar, gold, bauxite and mining.

But Gaskin said that while these are good and remain the constants of Guyana’s economy, Government should place them aside for the time and focus more on the small local communities that could eventually see an upward movement of the country’s financial system.

He admitted that most of the problems Guyana is facing could very well be a result of the prices on the world market, and with Government pumping monies into many of them, this only pulls the economy backward.

Government continues to pump billions of dollars into the failing sugar industry, has offered to subsidise the mining sector, the Guyana Power and Light, Linden Electricity Company and the National Insurance Scheme among other entities, although the country’s financial standing is poor.

Gaskin said he predicts that the situation will not see any improvement until the New Year. He maintained that Government needs to do a better job to counteract the financial problems.

Meanwhile, commentators have argued that while the country remains in a bad economic condition, the new Administration might very well be receiving poor economic advice. Some of these “advisers” might have their own ambitions and agendas.
Government has appointed renowned Economist, Dr Clive Thomas as its Economic Adviser on Governance, however mistakes have still been made, particularly with the public declaration shape of state funds.

They noted that the information that was hastily declared by Finance Minster Winston Jordan, which later recanted, is one example of poor management and counsel. Jordan had told the National Assembly that Guyana had an external debt of some US$1.6 billion although he could not quote the exact figure for the domestic or internal debt the country had.

Subsequent to that statement, the PPP/C had protested the figure, stating that it was grossly inaccurate and misleading. Former Finance Minister, Dr Ashni Singh had said that Appendix VI to the National Budget Speech for 2014 reported that Guyana’s external debt stock stood at US$1.247 billion at the end of December 2013, and provided a detailed disaggregation by creditor.

Secondly, he said Appendix F1 to the Mid-Year Report for 2014 reported that the external debt stock stood at US$1.227 billion at the end of June 2014, and provided a similar level of disaggregation. Thirdly, Table 7-III of the Statistical Annexe to the Bank of Guyana Annual Report for 2014 reported that Guyana’s stock of external public debt amounted to US$1.217 billion. Jordon later corrected the misinformation.

Later, Government had come in for severe criticisms for its announced intention to withdraw $60 billion in Government funds that are deposited at the commercial banks.

But Jordan had told Guyana Times that the withdrawals were being done to finance the budget deficit and honour several campaign commitments made by the Government. This was done against the warning of Private Sector Commission that the situation would have led to a high level of non-performing loans.

Government had also made a blunder when it declared that it had found the PetroCaribe fund empty, failing to understand, according to the Opposition,  that work was being done, thus the money had to be utilised.

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Originally Posted by yuji22:

Political Commentator and Economist Ramon Gaskin says the health of Guyana’s economy is deteriorating as he called upon the A Partnership for National Unity/Alliance for Change (APNU/AFC) Government to redirect its focus on the local communities, to unearth ways of stimulating the economy. This is the same advice proffered by Opposition Leader Bharrat Jagdeo and the Opposition People’s Progressive Party/Civic (PPP/C).

 

 

People who studied business and economy decades ago should go on a refresher course and update themselves with the current economic model. Both these two idiots are making the same old time and discredited mistake.

 

There are not enough people living in Guyana, and not enough earning enough, to make any sort of impact with internal economic stimulus. On top of that, most of the efforts made under the PPP was concentrated on imports, which were sold on to create economic activity. But when you import to do things like that, your balance of trade is going negative. If you want a positive balance of trade you need to export. Now the export under the PPP was largely in gold and cocaine. Now that the PPP is not in office, those two items have seen a decline in exports. The reduction in the gold price has also had a major impact.

 

We are going to have to find other ways of doing business. The PPP has crippled our manufacturing base and given away the land to friends to build houses on. That has left Guyana with very little room for error.

 

 

 

Mr.T
Originally Posted by yuji22:

Guyana’s economic decline “beyond advise”

… Govt should focus on village economies – Gaskin

BY ALEXIS RODNEY

waste of space 'article' . . . smfh

 

vacuousness harnessed in service to the PPP gang hunkered down at the tiefman Sanata Complex

FM
Last edited by Former Member

The times need to tell us what industry we had was productive and where have we ever benefited outside of using the expense the Chinese and Malaysian incur as they pillage our nation  in our nations income column!

FM
Nobody wants to accept they have a problem, and they become offensive when they're confronted about it. That is the stage of denial. It happens in government as well. To accept that the country's economy is downturn, is to accept failure. Are we going to fix the problem now or allow it to get worst? Let give them an extra three months to see the decaying economy gets worst.
FM
Originally Posted by Cobra:
Nobody wants to accept they have a problem, and they become offensive when they're confronted about it. That is the stage of denial. It happens in government as well. To accept that the country's economy is downturn, is to accept failure. Are we going to fix the problem now or allow it to get worst? Let give them an extra three months to see the decaying economy gets worst.

How do you know this for sure, what horrid plans are in the works from you people?

cain
Originally Posted by Cobra:
. To accept that the country's economy is downturn, is to accept failure. .

You too are in deep denial.  Guyana remained a commodity producer under the PPP.  It lost guaranteed prices for its sugar from the EU under the PPP.  It remained a producer of raw commodities, but increasingly under more volatile market prices.

 

This is the Guyana which the PPP left on May 11th, so racist like you need not pretend as if any current difficulties are to be unexpected.  If the PPP won Guyana would be in the same mess that it currently is.

 

Guyana is a small high cost producer of commodities, which it exports with minimal value added.  It is too small to set prices, so remains vulnerable to market conditions, based on factors beyond its control.

 

So seriously no need for you to bray about others being in denial when you are equally so.  Since last year we warned you that Guyana was going to experience difficulties, with gold prices dropping. So why the shock that they day is finally there?

FM
Last edited by Former Member
Originally Posted by Mr.T:
Originally Posted by yuji22:

Political Commentator and Economist Ramon Gaskin says the health of Guyana’s economy is deteriorating as he called upon the A Partnership for National Unity/Alliance for Change (APNU/AFC) Government to redirect its focus on the local communities, to unearth ways of stimulating the economy. This is the same advice proffered by Opposition Leader Bharrat Jagdeo and the Opposition People’s Progressive Party/Civic (PPP/C).

 

 

People who studied business and economy decades ago should go on a refresher course and update themselves with the current economic model. Both these two idiots are making the same old time and discredited mistake.

 

There are not enough people living in Guyana, and not enough earning enough, to make any sort of impact with internal economic stimulus. On top of that, most of the efforts made under the PPP was concentrated on imports, which were sold on to create economic activity. But when you import to do things like that, your balance of trade is going negative. If you want a positive balance of trade you need to export. Now the export under the PPP was largely in gold and cocaine. Now that the PPP is not in office, those two items have seen a decline in exports. The reduction in the gold price has also had a major impact.

 

We are going to have to find other ways of doing business. The PPP has crippled our manufacturing base and given away the land to friends to build houses on. That has left Guyana with very little room for error.

 

 

 

Upu need to start at Kindergarten but then again dat will hurt yuh head!!!!

Nehru
Originally Posted by Cobra:
The PNC government will wait till them house fall down before they fix it. Same with the broken economy.

 

Old People used to say that the PNC would make a toilet when they are ready to go. They were 100 Percent accurate. PNC part 2 is destroying Guyana a lot quicker that PNC part 1.

FM

the psychology of yugee, cobra, nehru, ramakant and other wannabe PPP soldiers on GNI reminds me of the low-IQ subset of mall security rent-a-cops who fantasize that they are the real thing, not the barefoot and stupid reality they contemplate in the mirror before they 'clock in' for duty every day on the BB

 

smh

FM
Last edited by Former Member
Originally Posted by redux:

the psychology of yugee, cobra, nehru, ramakant and other wannabe PPP soldiers on GNI reminds me of the low-IQ subset of mall security rent-a-cops who fantasize that they are the real thing, not the barefoot and stupid reality they contemplate in the mirror before they 'clock in' for duty every day on the BB

 

smh

 

Now we are you depriving a bunch of weak old men, with no sexual libido left, to not have the right to scare themselves?  This is the only pleasure left in their lives.  The notion of BLACKMAN beating them up.

FM
Originally Posted by redux:

       

the psychology of yugee, cobra, nehru, ramakant and other wannabe PPP soldiers on GNI reminds me of the low-IQ subset of mall security rent-a-cops who fantasize that they are the real thing, not the barefoot and stupid reality they contemplate in the mirror before they 'clock in' for duty every day on the BB

 

smh


       

Listen you lil punk. Go settle your insecurity before you come and lecture anyone. Intelligent people don't come and show off them skin here. If you have an antiman infatuation, keep it to yourself. I am not here to peek and seek in other people's business. I know who the fvck you are don't fvck with me. Now you have been told you ****ing red faced jumbie. Danyael said you have a PhD. When did you acquired your Doctorate degree, and for what purpose? To come on GNI and talk skvnt?
Bhai, give me a frigging break, OK. Now, cyar you old poke suh.
FM

Tell Red Face redux not to mess wid the Bengal Tigers. He can keep his antimanish behaviour to himself.

 

Dem a watch me.

 

Dem think that they can hide behind a computer screen.

 

Redux, yuji is not afraid of you.

FM
Last edited by Former Member
Originally Posted by Cobra:
Originally Posted by redux:   

the psychology of yugee, cobra, nehru, ramakant and other wannabe PPP soldiers on GNI reminds me of the low-IQ subset of mall security rent-a-cops who fantasize that they are the real thing, not the barefoot and stupid reality they contemplate in the mirror before they 'clock in' for duty every day on the BB

 

smh

 . . . I know who the fvck you are don't fvck with me. Now you have been told you ****ing red faced jumbie

wait, u know me? when did i ever associate with poorly educated vermin of your kind?

 

but more to the point, what exactly do you, yours and the PPP antiman class have planned for me sir?

 

don't be shy . . . we want to hear all about dis

FM

The Government of Granger and Kakamootoo wants Jagdeo to save them from total destruction of the economy.   They have stopped the Jagdeo's hydro project which will cost the country US$2.6 billion. They have spent $200 million to recover $100 million. OH lord! help these fools see the light and resign from further embarrassment.

R
Originally Posted by Ramakant-P:

The Government of Granger and Kakamootoo wants Jagdeo to save them from total destruction of the economy.   They have stopped the Jagdeo's hydro project which will cost the country US$2.6 billion. They have spent $200 million to recover $100 million. OH lord! help these fools see the light and resign from further embarrassment.

 

Ko Ko Beah PNC will destroy Guyana in one year.

 

They are cursed, whatever they touch turns into dutty.

FM
Originally Posted by yuji22:
Originally Posted by Ramakant-P:

The Government of Granger and Kakamootoo wants Jagdeo to save them from total destruction of the economy.   They have stopped the Jagdeo's hydro project which will cost the country US$2.6 billion. They have spent $200 million to recover $100 million. OH lord! help these fools see the light and resign from further embarrassment.

 

Ko Ko Beah PNC will destroy Guyana in one year.

 

They are cursed, whatever they touch turns into dutty.

They need the dutty to build dams. They don't have money to buy bricks.

R

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