Category Archives: Economics/Finance

Are we wasting foreign currency? – by Adam Harris

Are we wasting foreign currency?

Adam Harris

Guyana spends a lot of money on food imports, although the country is considered one of the more self-sufficient countries in the region. It can actually feed itself but then again, with disposable income people tend to seek a few luxuries.

I still remember the hullabaloo when there was what was called import restriction. The foods in this category were potatoes, sardines, salt fish, split peas and other lentils and of course, wheat flour. Needless to say, the hue and cry that went up was deafening. People started to complain that they were being starved.   Continue reading

Guyana: THE FALLING DOLLAR – commentary

Guyana: THE FALLING DOLLAR

Something is terribly wrong in Guyana. The value of the currency has plunged. But then again, this has been a trend dating back more than four decades. This is happening because we remain primary producers even as the world makes huge profits from primary products and return the refined product to the producers of the primary products.

It is critically important to understand precisely what makes the economy tick, and how different components must work with each other to produce positive outcomes. The Finance Minister was crucial to the budget presentations during the previous administration. When the situation worsened he was there when the then President Bharrat Jagdeo opted to close two sugar estates—at LBI and at Diamond.  Continue reading

US ECONOMY- DANGER SIGNS– Essential Insights on Time – Dave Gonigam

March 13, 2017 – 5 Minute Forecast – Essential Insights on Time – Dave Gonigam

This is getting real old, real quick…

The USA Debt Reduced by More Than $ 60-Billion Since the Inauguration of President Donald Trump

President Donald Trump

The preceding appeared Friday (March 10, 2017), at one of the more infamous websites that belong to a portion of the mediasphere that one wag labeled “InfoTrump” — a funhouse mirror image of the blinkered mainstream in which the “outsider” president can do no wrong.

Now, it’s true that if you look at the U.S. Treasury’s “Debt to the Penny” website, the national debt has declined since Trump took office.      Continue reading

The Netherlands: Moving away from Globalization – By Afshin Molavi

The Netherlands was once a liberal force for globalization. Has the country lost its way?

By Afshin Molavi Global Opinions  – March 12 at 8:08 AM

Photo: Geert Wilders, leader of the Party for Freedom, in Schiphol, Netherlands, last year. (Michael Kooren/Reuters)

AMSTERDAM — Tucked away in a side street across from a hip clothing store, a Surinamese restaurant and a marijuana shop selling bongs and cannabis-infused tea, a monument to our global, interconnected economy and our modern way of life is largely ignored by passing tourists, students and locals. It’s no exaggeration to say that modern market capitalism was born on this spot on this month, exactly 415 years ago, when a trading company known as the Verenigde Oostindische Compagnie — the United East India Company — was born.      Continue reading

The View from Europe: Responding to the coming trade disorder – By David Jessop

The View from Europe: Responding to the coming trade disorder

Published on March 11, 2017 – By David Jessop

David Jessop

  • A few days ago, an astute observer of the US political scene told me: “Watch what the new administration and Congress does, not what the president tweets. That is the secret of understanding future US policy.”

If this is correct, the Caribbean should ignore the noise and think hard about the implications of a nine-page document sent on March 1 to the US Congress by the office of the US Trade Representative (USTR). It makes clear the radical ambition of new administration.

In stark and confrontational terms, it sets out the president and his advisers’ zero-sum thinking on trade.     Continue reading

When one points a finger, three fingers are pointing back – Adam Harris

When one points a finger, three fingers are pointing back

 Mar 12, 2017  Features / Columnists, My Column  Adam Harris

The introduction of parking meters in the city is being blamed for just about everything, from a decline in business to a potential hit on the economy. Many businessmen in the city, as I mentioned recently, are claiming that their business has declined by as much as fifty percent since the introduction of the parking meters.

For one, these businesses are telling us that most of their shoppers are people who drive, when the reality is that eighty percent of shoppers are people who walk. They travel to the shopping centres by minibus, do their shopping, then head to the bus parks. The few drivers who shop are people who would buy some small item.   Continue reading

Guyana’s Natural Resources Minister, Raphael Trotman Woos Toronto’s Guyanese-Canadians

Guyana’s Natural Resources Minister, Raphael Trotman Woos Toronto’s Guyanese-Canadians

 March 8, 2017 – Caribbean Graphic

Natural Resources Minister – Raphael Trotman

Guyana’s Natural Resources Minister, Raphael Trotman was in Toronto over the Mach 4-5 weekend to attend a Mining Conference. During his brief visit, Trotman took the time to address a March 4 audience of Guyanese-Canadians at a Stakeholder Engagement Session titled “Guyana Rising From Potential to Prosperity”, which was held at Toronto’s Westmount Event Centre. The session was held primarily to update members of the diaspora on the progress of the rich oil find and the potential it has for the future of Guyanese at home and abroad.

With expectations soaring in the event of the expected revenues from oil, Trotman in his excellent presentation and very well received address, said the Government has identified several infrastructural projects, including the construction of the road from Linden to Lethem, building a deep water port at Crab Island, Berbice and at least two hydro power plants.   Continue reading

A Few Ways to Fix a Government – by Charity Wayua – TED video

A Few Ways to Fix a Government – by Charity Wayua – TED video

Charity Wayua

Charity Wayua

Charity Wayua put her skills as a cancer researcher to use on an unlikely patient: the government of her native Kenya. She shares how she helped her government drastically improve its process for opening up new businesses, a crucial part of economic health and growth, leading to new investments and a World Bank recognition as a top reformer.

Charity Wayua, in this fascinating talk, talks about how a small team of analysts with unusual backgrounds managed to diagnose a sticky problem that was keeping new businesses from thriving — and how they ended up making real change that drives prosperity and growth…… Watch video »

Caribbean Life News Update – 22 February 2017

Caribbean Life News Update -22 February 2017 Caribbean Life

Hamilton names office ‘Sanct­uary Senate District’

BY NELSON A. KING | BROOKLYN

In light of Presi­dent Trump’s Execu­tive Order putting in jeopardy the rights of immig­rant popul­ation in New York City and their families Brooklyn Senator Jesse Hamilton has declared his office to be a “Sanct­uary Senate District (SSD)” for the term of Presi­dent Trump’s execu­tive order.

American entrepr­eneurs head to Carib­bean for exchange program

BY NELSON A. KING | NATIONAL

The United States Depar­tment of State says 34 Young Leaders of the Ameri­cans Initi­ative (YLAI) Profes­sional Fello­wship hosts from busin­esses and civil society organiz­ations across the US have been selected to partic­ipate in the Reverse Exchange program, a new compo­nent of YLAI.

Continue reading

Hot Topics in Guyana; Trump the Parking Meters – by Francis Quamina Farrier

Hot Topics in Guyana; Trump the Parking Meters – by Francis Quamina Farrier

demo-on-parking-meter

Parking meter demo

Over the past month, (January/February 2017) I have been accessing what is the most popular talking point by Guyanese here in Guyana. Certainly there is a tie with the actions of the new American President, Donald Trump, in the White House, and the actions of Guyanese who are for and against the recently installed Parking Meters in Georgetown. These two “Hot Topics” are discussed everywhere you go in this beautiful English-speaking country.   Continue reading

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