The Bank of Guyana’s latest Statement of Assets and Liabilities are out and it shows that the bank’s total assets are on a slide, with several indices ranging from the bank’s gold holdings to its market securities showing reductions when compared to previous years. The statement was only recently released. According to the bank document, its total assets as of March 28, 2018, were $206.4 billion. This includes $1.9 billion in gold reserves, $82.1 billion in capital market securities and $5.6 billion in money market securities. This is a reduction…
Read MoreMonth: January 2019
YEAR IN REVIEW: JULY – PPP 2020 presidential candidate
…selection process to be fair, determined by party CC Jagdeo accuses Govt of plotting against potential PPP presidential candidates Any candidate who considers himself or herself a front runner for the post of presidential candidate for the People’s Progressive Party Civic (PPP/C) at the upcoming 2020 elections could find themselves facing malicious, trumped up, or spurious charges for dubious offenses following directions handed down by the ruling APNU/AFC Coalition Government. This is the view expressed by Opposition Leader and PPP General Secretary Bharrat Jagdeo as he responded to questions raised…
Read MoreYEAR IN REVIEW: JULY – Leguan stelling on verge collapse – residents
…also blasts T&HD for unreliable Ferry Service Residents on the Island of Leguan in the Essequibo River are calling on the Government to urgently fix the Ferry Stelling since it is on the verge of collapse, warning that if emergency works are not executed immediately then there is the potential for loss of lives since the stelling’s collapse is imminent. The timber planks supporting the stelling are rotten and this has caused fear for residents since heavy vehicles traverse the stelling. In addition, the decking is loose and uneven with…
Read MoreYEAR IN REVIEW: APRIL – 2 teens, mother charged for killing Berbice security guard
Two teenagers and the mother of one of them were on Friday remanded to prison for the murder of a Corentyne, Berbice security guard. Carlos Ballers, 19, of Williamsburg and Yuvraj Singh, 17, of Guava Bush, Albion Front appeared before Magistrate Renita Singh at the Albion Magistrate’s Court. The two were jointly charged. Also charged was Lalita Ballers of Section E Port Mourant. However, she was charged separately also for murder. The three are accused of killing Munisperen Iyasammy Monien of Lot 45 Clifton, Port Mourant, Corentyne during the course…
Read MoreKallicharran hailed for making Queen’s honours list
Upon being awarded with the prestigious British Empire Medal in the Queen’s 2019 honours list, Alvin Kallicharran is being praised for his efforts and contributions in the cricketing fraternity. As such, the executive committee and membership of the Guyana Cricket Board (GCB) have extended heartfelt congratulations to the Guyanese cricket stalwart. The Medal of the Order of the British Empire was first established in 1917, along with the Order of the British Empire. The medal was part of the Order and could be awarded for either meritorious service or for…
Read MoreWhat a vulgar statement by Minister Lawrence!
Dear Editor, This letter was motivated by a statement by the Minister of Health and Chairwoman of the PNC, Volda Lawrence on preference of PNC party comrades for employment and Government contracts, which was widely reported in the media. She was also the former Minister responsible for the labour portfolio. What a vulgar statement! However, Volda Lawrence must be commended for her honest confession of the not so subtle practice of the PNC. That position is discriminatory and unlawful as stated hereunder, The system of industrial relations is informed, influenced…
Read MoreYEAR IN REVIEW: OCTOBER – Guyana records fiscal deficit over $20B
Auditor General Deodat Sharma has found that Government’s overall deficit has increased and indeed, swallowed the current surplus – resources saved from taxes, royalties and other revenue earing activities embarked on by the state. This is contained in the Auditor General’s 2017 report, which notes that for that fiscal year there was a net overall deficit of $24.268 billion as of December 31, 2017. The net deficit is made up of a current surplus of $5.939 billion and a capital deficit of $30.207 billion. The AG found that Government attracted…
Read MoreYEAR IN REVIEW: JULY – Berbice River Bridge facing bankruptcy
…company applies for toll hike, losses $2.8B …Govt says no to increase More than a decade after a Public Private Partnership (PPP) agreement allowed the construction the Berbice Bridge; the bridge company is now facing bankruptcy following the Government’s decision to drop the toll and subsequent refusal to allow for an increased as per the initial agreement when the company was formed According to Board Chairman Dr Surendra Persaud, they have had several engagements with Minister of Public Infrastructure David Patterson. He noted that following a previous engagement, Patterson had…
Read MoreYEAR IN REVIEW: MAY – Judicial appointments – Human rights body calls for end to impasse
In regards to comments made by President David Granger and Opposition Leader Bharrat Jagdeo in about the appointments of a substantive Chancellor of the Judiciary and Chief Justice, it is a clear indication that the impasse has further deepened. Head of the Guyana Human Rights Association (GHRA), Mike McCormack shared his opinions that that both parties should put aside their differences. McCormack said he felt the longer it takes to appoint persons in these two top positions, it will continue to affect the quality of justice here. The GHRA head…
Read MoreYEAR IN REVIEW: NOVEMBER – Govt must resign as per Constitution – Jagdeo
“The Government should resign,” said Opposition Leader Bharrat Jagdeo bluntly on Thursday as he called for the Administration to abide by the Constitution during a media engagement outside Freedom House on Thursday following a meeting with the Party’s Executive Committee. “This government has lost a no-confidence motion; the Constitution has provided the clear prescription [that] you resign on losing it. They should’ve resigned by now … [I’m calling on Government] to resign now; that is what [Article] 106 (6) is – it didn’t say “may” resign, it said “shall” resign,”…
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