Economic stagnation under the opposition: why Guyana can’t afford to go back

Dear Editor,
As we inch closer to the next general elections, it is crucial for the citizens of Guyana to reflect on our economic journey over the past decade. Under the visionary leadership of President Dr Mohamed Irfaan Ali, Guyana has witnessed remarkable progress—an era of growth and prosperity that has uplifted the lives of many. This is a sharp contrast to the stagnation and mismanagement experienced under the APNU-AFC Coalition. The difference is clear: Guyana cannot afford to return to the days of economic standstill and missed opportunities.
The APNU-AFC Administration’s time in office was characterised by a lack of strategic planning, fiscal missteps, and an inability to attract meaningful investment. During their tenure, the economy languished under the weight of failed policies that led to high unemployment rates, stagnant wages, and a general sense of despair among businesses and citizens alike. Despite their promises of change and economic revival, their leadership was marred by indecisiveness and short-sightedness.

A Record of Economic Mismanagement
The APNU-AFC Coalition’s governance was marked by economic uncertainty. Businesses were left to navigate a hostile and unpredictable environment, where inconsistent policies discouraged local and foreign investors. Projects that had the potential to create jobs and spur economic growth were either mishandled or outright neglected. The sugar industry, which has been a backbone of the Guyanese economy for generations, was left in disarray, leading to job losses and economic hardship for countless families. Where was the strategic vision to diversify and strengthen this vital sector? Nowhere to be found.
Instead of taking bold steps to stimulate growth, the opposition oversaw a period of stagnation, where wages remained low and opportunities were scarce. Their fiscal irresponsibility drove away investors, crippled key sectors, and left the nation grappling with economic hardships that took years to undo. The lack of effective planning and the absence of a clear economic strategy meant that businesses struggled to grow, and ordinary Guyanese felt the brunt of the economic slowdown.

A Clear Vision for Progress
In contrast, the current administration has turned the tide, creating an environment that fosters growth, innovation, and investment. President Ali’s Government has made it a priority to ensure economic stability and sustainable development. By introducing strategic measures like the $100,000 minimum wage, tax relief for families, and targeted support for local industries, the administration has not only stabilised the economy but set it on a path to sustained growth.
Economic recovery and development have been achieved through comprehensive policies that address both immediate needs and long-term goals. Initiatives like the $100,000 one-off grant for citizens aged 18 and over, which injected $60 billion into the economy, reflect a Government that is not only responsive to its people’s needs but also forward-thinking. By investing in the people, the Government has helped stimulate economic activity, increase disposable income, and boost consumer confidence.

Investing in the Future
One of the most striking differences between the two administrations is their approach to investment. Under President Ali, the Government has attracted $15 billion in private healthcare investments, launched innovative projects like Silica City, and improved housing and education infrastructure across the country. This is a Government that plans for the future, setting up the foundation for long-term prosperity.
The opposition, on the other hand, has shown no signs of a coherent economic plan. Their time in office was marked by a failure to attract investment or capitalise on opportunities that could have transformed the nation’s economic landscape. Even in opposition, their proposals are vague, reactionary, and fail to address the fundamental issues affecting our economy.

Why Returning to the Opposition’s Rule is a Risk
Returning to an administration that has demonstrated a lack of economic foresight is a risk Guyana cannot afford. The APNU-AFC’s inability to deliver on their economic promises has been evident, and their current instability only raises further doubts about their capability to lead. Their weak stance on issues, combined with internal conflicts and a lack of direction, poses a threat to the economic stability that has been carefully rebuilt over the past few years.
President Ali’s Administration has proven that it can deliver results. From job creation and infrastructure projects to healthcare advancements and educational reform, this Government has shown that it has the vision, the will, and the capability to drive Guyana forward. The choice in the upcoming election is simple: progress and prosperity or a return to uncertainty and economic stagnation.
Guyana’s future is bright, but only if we maintain steady, effective leadership that is committed to building on the successes of recent years. Let’s not risk the progress we have made by returning to a past of economic mismanagement and missed opportunities. The current administration has proven itself as the most capable steward of Guyana’s economic future, and it must be given the opportunity to continue its transformative work.

Sincerely,
R. Razack