Latest update March 29th, 2024 12:59 AM
Jul 10, 2015 News
Finance Minister, Winston Jordan, addressed the National Assembly yesterday, on several matters, one of which sought to correct the figures provided to the House on the country’s external debt.
On June 26, last, Jordan had informed the National Assembly that the external debt had risen to US$1.6B and that the domestic debt had also increased, though he did not state a figure.
Former Minister of Finance, Dr Ashni Singh had challenged Jordan’s claim, while stating that
“Firstly, 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, 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 at the end of December 2014, disaggregated by creditor type.”
Minister Jordan disclosed yesterday that on his return to Guyana on July 1, last, from Venezuela, where he had gone on official government business, he was informed that the figure he quoted for the external debt was incorrect. After making some checks, he said, that the external debt is US$1.2 and the domestic debt is US$0.4B. He apologized for the blunder
“I have had the opportunity to re-check the numbers and now inform this Honourable House that it is the Public debt comprising of external debt and domestic debt which stands at US$1.6B, not the external debt. I apologize…for the earlier mistake and the erroneous impression created.”
THIS IDIOT TELLING GUYANA WE HAVE NO SAY IN THE 50% PROFIT SHARING AGREEMENT WE HAVE WITH EXXON.
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