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GUYANA: An offshore financial centre?

September 7, 2010 Leave a comment

The Majestic Kaieteur Falls

By: Andrea Proctor

GEORGETOWN –Somewhere in the heart of sunny Georgetown Guyana, there are murmurings about developing Guyana into an Offshore Financial Centre (“OFC”), with a focus on Offshore Banking. OFCs provide low or no tax jurisdictions, along with excellent commercial and corporate services to non-resident companies and individuals. Residents of an OFC typically experience a higher standard of living.

No one would argue that Guyana needs a sound and sustainable plan to attract capital, resources and investment to its shores. However, ideas of such magnitude should not be embraced or indeed dismissed without in-depth analysis.

The Guyanese experience

All Guyanese know that it is the careful preparation that makes any meal a success.

Guyana’s reputation as a stable political, social and economic destination will have to be carefully and firmly established before it could succeed as an OFC.

Despite the reports that Guyana has experienced moderate economic growth in recent years, it must project an image of sustained development and economic maturity before foreign banks and businesses will seriously consider migrating to its soils. The nation will at the very least, need to make a greater effort to restore basic humanities, provide reliable utilities, manage its waste collection and disposal, and do what it takes to remove itself from certain “Watch Lists” and a variety of other coloured lists.

Genuine buy-in from, and consultation with, all major political parties, relevant industry bodies and stakeholders, and a willingness to progress such a proposal at a national, unified, level will be essential. Even with the greatest political will, this is not going to be a 4 year project.

What’s the Attraction?

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The politics of leadership: Guyana and its presidency (Part 3)

June 28, 2010 Leave a comment

Sir Ronald Sanders

Do we always have to turn to foreign initiatives and research to boost the effectiveness of our education system? From what I have recently observed in three Tobago secondary schools and one Tobago primary school, I thunderously say no.

My recommendations to architects of educational policy is to pay a fact-finding visit to Bishop’s High School, Goodwood High School, Speyside High School and Pembroke Anglican Primary School to obtain insights into how effectively our schools can be governed.

Findings from an audit conducted by two UWI lecturers, a team of UWI postgraduate students in educational administration, and myself revealed some interesting insights which space does not permit me to reveal. However, what is important to note is the Read more…

Categories: Columnists, Commentary

Problems with opposition parties in Guyana – PPPR may continue to govern

June 21, 2010 Leave a comment

Oscar Ramjeet is an attorney at law who practices extensively throughout the wider Caribbean

By: Oscar Ramjeet

Opposition parties in Guyana, inspired by the merger of forces in Trinidad and Tobago, which now form the government of the twin island republic, and the coalition in Suriname, are hopeful that, if there is unity, the Bharrat Jagdeo government can be defeated at next year’s general elections. However, instead of co-operation there is further division and chaos.

Like the People’s National Congress Reform (PNCR), there is leadership problem in the relatively new and upcoming force, Alliance for Change (AFC), since one of the leaders, Khemraj Ramjattan, an attorney and former People’s Progressive Party Civic (PPPC) member of parliament, is keeping away from the party he formed with Raphael Trotman, also an attorney, who broke away from the PNCR. The reason being is that Ramjattan was sidelined a week ago in a promised agreement for him to lead the party.

Reports from Georgetown state that Ramjattan, who hails from the Corentyne in Berbice, but has been living in Georgetown for two decades, has been boycotting meetings of his party, obviously disenchanted because his party failed to keep its promise. Under a commitment to revolving leadership, Ramjattan was to have taken over last week from leader Trotman. It is understood that the rotating agreement has been set aside because Trotman is touted to be the AFC’s presidential candidate for next year’s elections

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The politics of leadership: Guyana and its presidency (Part 2)

June 21, 2010 Leave a comment

Sir Ronald Sanders

by: Sir Ronald Sanders

EVERY present indicator strongly suggests that, at the end of next year’s general elections in Guyana, the presidency of the country will remain with the People’s Progressive Party (PPP), which seems certain to win more votes than any other party.

The Constitution of Guyana states that a presidential candidate shall be deemed to be elected president “if more votes are cast in favour of the list in which he is designated as presidential candidate than in favour of any other list”. In other words, the successful presidential candidate requires only a plurality of the votes, not an overall majority.

However, to form the Government on its own a political party does require an overall majority. So, even though the PPP could secure the presidency by winning the most votes, it needs an overall majority to form the Government by itself.

Should the PPP fail to get more than 50 per cent of the votes cast, it would be forced to seek support from among other parties to form a coalition Government.

The main Opposition party, the People’s National Congress (PNC), which is Read more…

Categories: Columnists, Guyana