At the conclusion of last week’s column, I had indicated the intention to wrap up in today’s column my discussion concerning the institutional architecture and governance in preparation for Guyana’s coming gas and oil industry. However, the feedback readers have offered since, suggests they are not altogether clear as to why there is a special…
Introduction Last week’s column advanced the view that Guyana’s membership of the Extractive Industries Transparency Initiative (EITI) is a crucial plank in the institutional governance architecture being designed for managing its impending oil and gas extraction industry. I summed up my evaluation of seeking EITI membership as a necessary, but not sufficient basis for securing…
Introduction Today’s article brings to a conclusion the three-part series of columns that have been reviewing Guyana’s proposed membership of the Extractive Industries Transparency Initiative (EITI). Similar to my earlier examination and assessment of government’s proposed establishment of a Sovereign Wealth Fund (SWF), Guyana’s deliberative effort to secure membership of the EITI is undoubtedly a…
Today’s column continues the discussion of Guyana’s long declared policy option of seeking membership of the Extractive Industries Transparency Initiative (EITI) as a cornerstone of its approach to governance of the fast approaching time of oil and gas production and export. Last week’s column had started the discussion, but regrettably, due to space, constraints, gaps…
Introduction Last Sunday’s column completed my presentation of ten lessons which I have argued the Guyanese authorities can profitably learn from a studied appraisal of worldwide experiences with oil-based sovereign wealth funds (SWFs) over the past six decades. As I had indicated at the start of that presentation on the lessons to be learnt, after…
This week I propose to conclude for the time being, my portrayal of lessons that can be learnt from worldwide experiences with SWFs over the past six decades. Along with the five lessons which have already been presented in the two previous columns, there are several others, equally important, but which can be much more…
Today’s column continues the presentation of lessons Guyana can learn from global experiences with oil and gas-based SWFs. Two further lessons (4 and 5) are added to the three which were presented last week. Lessons 4 and 5 focus respectively, on national objectives and design rules. Lesson 4 (Schedule 4) Schedule 4 lists seven national…
Today’s column attempts to draw lessons from global experiences with Sovereign Wealth Funds (SWFs), operating in the oil and natural gas sector. This effort is intended to aid my ongoing examination of Guyana’s impending development of a robust oil and natural gas sector. Today, such SWFs constitute an important subset of SWFs found in the…
Following last week’s discussion of Sovereign Wealth Funds (SWF) as a mechanism for avoiding and/or controlling the triad of crises typically associated with booms in oil and gas export revenues, I describe below the Government of Guyana’s declared intention with regards to its own SWF. Recently, the Ministry of Natural Resources has declared Guyana’s SWF…
Introduction In last week’s column I had advanced the opinion that there were three policy priorities seemingly driving government’s approach to the development of the oil and gas sector. If taken in their widest meaning, these priorities can be said to represent the overwhelming bulk of government’s policy concerns, as publicly indicated to date. To…
