Guyana’s debt management is better now

TIMES INT'L

Dear Editor,
I refer to the Guyana Chronicle headline under the caption, “Nagamootoo attempts to mislead nation once again – this time on public debt,” in its issue of Tuesday, February 12, 2013.
The problem with Moses Nagamootoo of the Alliance For Change (AFC) is that he keeps on misleading the Guyanese nation. The problem with the parliamentary opposition, which has a one vote majority in the house, is that to survive politically they have to dig up matters of irrelevance just to wrongfully accuse the government.
Also, the matter of Guyana’s public debt is definitely not in the area of Nagamootoo’s competence. My only conclusion on Nagamootoo’s public debt question to the minister of finance is to expose the People’s National Congress (PNC)’ s macro-economic failures, which contributed to the collapse of Guyana’s economy when it was in government illegally. The current administration on the other hand must be commended on its macro-economic performance for the 20 years it has been in government.
In fact, it was just a few days ago that the Caribbean Development Bank (CDB) announced that amidst gloomy assessments for most economies of the Caribbean Community (Caricom), Guyana is forecast to lead the way with Gross Domestic Product (GDP) in 2013 projected at around five per cent.
The minister of finance must be complimented for crudely and expertly blowing apart Nagamootoo’s mischievous and misleading claims that Guyana’s debt is at its highest by carefully justifying through figures why Guyana’s public debt is lower at US$ 1.7 billion as against US$ 2.1 billion in 1992.
In short, the government of Guyana must be complimented for its economic performance over the last 20 years.
Yours truly,
Peter Persaud

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