…bankrupt Guyana – again
When the PPP acceded to office in 1992, after 28 years of PNC elections’ rigging, they inherited a treasury that was even more bare than Mother Hubbard’s cupboards. Her cupboards just didn’t have anything in them, but the Treasury the PNC left had actually owed foreigners so much money they could’ve literally taken over the country if they wanted to. They didn’t want to, because it was such a wreck on every front. The PPP had to spend a decade just wiping out those debts.
But it took up time and effort, and money that could’ve been deployed to develop the country. Very few people remember the Herculean effort of Bharrat Jagdeo to fill all those holes left by the PNC before he went on to transform Guyana from a Highly Indebted Poor Country to a High Middle Income Country.
That’s what the PNC inherited in 2015: the country with the most consistent growth record in the region over the previous two decades — that transformed the lives of ordinary citizens by doubling living standards from what it had been in 1992! Imagine, the PPP brought us to a point where there wasn’t just a chicken in every pot, but a car in every driveway!!
But what did the PNC do with that inheritance after their five years?? Once again emptied the Treasury, that’s what!! Take, for instance, our “General Reserves”. These are assets that are readily available (liquid) to finance our national expenses – if we have an imbalance between what we purchase and what we export. You can think of them like the money in your bank account that allows you to spend that little extra when needed – beyond your monthly salary.
Well, the sad truth, dear reader, is that not only are our Reserves depleted, but we owe $290 million, which the PPP will have to find the day they’re sworn in!! Now, talking about bank accounts – governments also have these: they’re called Public Deposits. They come mainly from the taxes you and businesses pay to the Government. But guess what?? Not only have these been zeroed out, but we have a NEGATIVE BALANCE of $88 billion! That is: the Govt has actually used cash that they don’t actually have- from the banking system, which left less for the private sector to use!!
Do we need to go on?? You can now understand why GuySuCo can’t be bailed out – even if Granger hadn’t mean to kill it!
So, once again, the PPP will be forced to clean up the PNC’s mess before they can get to implement all the plans they have for Guyana. But that will never be acknowledged.
It’s déjà vu all over again!!
…kleptocratic PNC
The PNC stole more in their 5 years than what they’d accused the PPP of stealing in 23!! In 1992, corruption was one of the main causes for the collapse of Guyana’s economy under the PNC. Hoyte had even conducted a CoI into the phenomenon after he took over in 1985!! But one of the mistakes of the PPP administration was not to go after the miscreants who bled us dry – when they took over.
Take the GNCB, for instance. Billions and billions had been lent to PNC friends and cronies, but they were allowed to get off scot free – under Jagan’s policy of “No victimisation; no recrimination”. History must not be allowed to repeat itself: the crooks who’ve looted our Treasury must be brought to justice – if only to tell those in the new PPP administration that, this time, things have to be different.
The looting has intensified in the last three months. A reformed SARA and SOCU plus the FIU must go after these looters.
It’s not just Mingo!!
…mysterious instruction from Mingo
Why did Mingo want the papers – including counterfoils, voters’ lists, and excess ballots, from those 29 boxes?
Wasn’t to game the recount – the PNC’s not that “far see”!
More mundanely, he wanted the unused ballots to stuff elsewhere?
