Guyana’s economic development needs competence, experience

Dear Editor,
I listened/watched via live stream most of the sessions of the IDB/PSC Business Summit in Guyana last Wednesday and Thursday. I commend the organisers of this forum, and the participants for what was for me an informative and educative exercise. It is unfortunate that some aspects of the discourse turned out be partisan political, rather than analytical and solution-oriented.
In a previously published letter, I offered my views on certain aspects of the first day of the deliberations. In that letter, I suggested, inter alia, a reassignment of Minister Dominic Gaskin to the Tourism and Civil Aviation portfolio, as I proposed the creation of a Ministry of Economic Planning and Business Development. It seems that, in some circles, my suggestion was taken as an attack on Minister Gaskin. I don’t share that view, and my intent was never to attack the minister. Some people reminded me that he is the President’s son-in-law and I should tread lightly. Well, I made it clear to those people that I could not care less about his familial ties, he is not immune from the focus of critical thinking and analysis on the future of Guyana, since he holds public office. I once had reason to say — in a private conversation with the late President Burnham, when I opposed the banning of wheat flour — that he ought to bear in mind that Guyana was neither willed nor mortgaged to him by anyone, and therefore he was not immune from criticism of his policies. And this applies to every President and political party, especially the one(s) that form the Government.
I have, on several occasions, met Minister Gaskin and interacted with him. He is quite affable, humble, even-tempered, and seemingly decent and honest. He is what would be considered a nice guy. But the country’s economic development needs the competence and experience of more than a nice guy. At this critical stage of the country’s development, Government’s leadership in economic planning and business development needs to be in the hands of someone with the experience and knowledge; the nimbleness of intellect that would inspire and impress the private sector, potential foreign investors, and the international business community in general.
On Thursday, I listened to Gail Teixeira’s presentation, the delivery of which was so impressive that some non-Guyanese colleagues in the office enquired about the very “cultured” voice they were hearing. I am sure I heard her say that Government needs to sit down for dialogue with stakeholders, including the political Opposition, on the economy.
I agree wholeheartedly. But did the PPP/C participate in the budget consultations? Not as far as I know. But I stand corrected if it did.
I also heard her praise former President Hoyte (hope I heard right) for the tough decisions he took on the economy, specifically the bauxite industry. It was good to know that the PPP/C thinks that the PNC did something it could praise.
Then there was the panel on tax reform, which really did not address tax reform and throw up any real recommendations.
Sam Hinds said many international agencies and foreign governments pushed his Government to offer incentives, including tax exemptions to investors, including the oil companies, so as to encourage their coming into Guyana; but they are today saying to the new Government, “We need to work with you, to ensure you don’t give up too much.” I found that an interesting comment coming from the immediate former prime minister.
But the most important and instructive information, for me, emanated from the representative of the banking sector on the panel that addressed access to financing. He said that local banks are very liquid, and had approved loans totaling billions of dollars as far back as three years ago to private sector companies, which loans are not being utilized. He opined that the reason for non-utilization of those loans is the wait-and-see approach of the private sector to the plans and programs of the new Government.
Is this the true reason, or are certain private business owners playing politics and withholding injecting money into the economy to spite the current Government?
I’m not sure. However, the Government indeed needs to put its leadership of economic planning and private sector relations into the hands of experienced, self confident and well exposed persons with the facility to discharge their functions creditably. I rest my case.

Yours truly,
Wesley Kirton