Opinion
Balances due from abroad and the foreign exchange “shortage”
By Tarron Khemraj On September 10, 2023 On August 19, the Stabroek News reported that the government is willing to make necessary interventions in the foreign exchange (FX) market in order to enable the smooth access to hard currencies. In the same news report, Vice President Jagdeo noted that there is ample foreign exchange if one considers the…
Country must see Exxon’s reports for relinquishment of oil blocks – TIGI President
…Jagdeo does not own the country’s resources Kaieteur News – President of local watchdog organization, Transparency Institute Guyana Inc (TIGI) Frederick Collins is calling on the Government of Guyana (GoG) to release the reports submitted by ExxonMobil, outlining the impacts of the COVID-19 Pandemic on their operations. The quarterly reports were a prerequisite to the extension…
No doubt the NTC Chair and Executive Members will readily agree to Toshao Fernandes’ request
I am glad to read that Toshao Orin Fernandes of Chinese Landing Amerindian Village has asked the National Toshaos’ Council (NTC) for a slot at the opening of the NTC’s conference on Monday 28 August to talk about the continuing illegal mining on Chinese Landing’s titled Village Lands. It has been over a month since…
Fish catches decline began around the same time as the beginning of offshore oil production, at the end of 2019
These four posters focus on Bangamary (scientific name Macrodon ancylodon, also known as King Weakfish in neighbouring Suriname), the most affordable fish in Guyanese coastal markets and available throughout the year. The posters are part of the public dissemination of research findings supported by a Canadian Government SSHRC Insight grant (2022-2024) awarded to Dr Janette…
An alternative PSA model such as the Gross Split Model eliminates contested areas in current contract
It has been eight years since large oil reserves were discovered off the shores of Guyana, but the nation has only reaped a measly 14.5% of total oil revenues since oil production or more accurately oil extraction started in 2019. The remaining 85.5% have been captured by foreign oil companies. In fact, the Stabroek Block…
One cannot tell where Exxon ends and the gov’t begins
Reference is made to Elder Green’s letter titled, “This mad rush to have foreigners develop all they can find in our waters is senseless” (SN August 16th). Mr. Green is onto something here. “Go easy on exploiting our non-renewable oil resource”, he says. When it’s done, it’s done. Further he cautions, “In other words, don’t…
We are grappling with modernisation of legislation by the crudest of processes
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…
Exchanging trinkets for gold
Reference is made to SN’s blogger, Justin, (SN August 10 blog on Andre Brandli’s letter). He explained Guyana’s share of oil revenues as follows: “Your mango tree has 100 mangoes which sell for $10,000 on the market. I pay 2% royalty. But I have the right to 75% cost recovery+ 50% profit sharing, and you…
Ability to service burden of debt relies almost exclusively on Guyana’s share of profit oil
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…
Persaud’s ceding of Guyana’s sovereignty to Exxon
Reference is made to Dr. Randolph Persaud’s letter titled: ‘Suggestion that Exxon is Guyana’s new slave master is baseless . . .”. (SN August 6th). My characterization of the Persaud’s letter is to brainwash the Guyanese people into feeling gratitude for Exxon’s investment – and to disregard the Guyanese people’s arguments and plea for renegotiation…