There had been apparent controversy regarding both prices and incomes data generated by official reports purportedly measuring the Guyana Cost of Living, reflected by the Consumer Price Index, CPI and the Nominal Gross Domestic Product, GDP. There is a further complication as the World Bank raised Guyana’s low income status to a high income status…
Articles by Dr. Tarron Khemraj appearing on his business page in SN 2023/09/24 and SN 2023/09/10 require some comments, since the use of ‘Balances from Abroad’ imply that Commercial Banks have readily available sources of foreign exchange that are liquid balances and can be deployed to make good any foreign exchange ‘shortage’ affecting the Private…
Guyana’s oil economy is now mirroring its lopsided oil contract. The world’s highest growing economy in 2022 is not spreading the fruits of growth evenly across Agriculture, Manufacturing, and Services. Indeed, the rich versus poor is mirrored by oil and non-oil economy – the high growth oil sector registering 90% growth in the value-added income…
International measures of economic growth – usually expressed as Gross Domestic Product – add the tremendous growth in the enclave economy of ExxonMobil and co-venturers to the small locally-controlled business achievements. The official GDP figures contrast with the 48 per cent of the population living below the World Bank’s estimate of the poverty line. The…
A letter entitled “Notions that the level of borrowing is reckless are far-fetched” penned by Mr. Bhagwandin was published earlier this week in Stabroek News (August 8, 2023). The backdrop to this letter is as follows. The National Assembly approved, last week, a new debt ceiling to facilitate greater borrowing. Guyana’s domestic public debt ceiling…
By Stabroek News July 17, 2022 Dear Editor, In a recent article it was reported that Vice President Jagdeo stated, among other things, that a larger share of its oil revenues sooner, would not benefit the country. In fact, if it comes in, he said, “…we can’t spend it all… (positing that) …it comes inflationary.” Certainly,…
By Stabroek News July 1, 2022 Dear Editor, Recently, I read a report prepared by SPHEREX Analytics, an accounting firm that produced the 2020 and 2021 financial statements for Esso Exploration and Production Guyana Limited (EEPGL). In the report, it is claimed that, ‘… Guyana’s share in profit and royalty is greater than the net…
