Did the PPP gamble and lose?

It would seem that Guyana despite all the goodwill that the international community, particularly India and China bestowed on Guyana, the country’s economy is in dire straits. The Caribbean Financial Action Task Force has blacklisted the country simply because its laws are not stringent enough to thwart money laundering and the financing of terrorism.
Indeed Guyana has been talking about legislation to combat money-laundering and for more than a decade the then President Bharrat Jagdeo identified the former banker, Paul Geer, to head what he called the Financial Investigation Unit. But Geer was just a picket. He had nothing to do because no one was reporting anything to him.
Such was the state of affairs that the commercial banks were not reporting illegal transactions out of fear for their safety—the reporting system is considered porous. Paul Geer simply reported that there were no suspicious transactions and the authorities had no reason to doubt him.
But there was more to the situation. The government had developed a level of complacency and disrespect for others in the society that today, we now learn that the punishment that has visited us was more than a decade in the making.
Indeed the warning came just as Guyana was gearing for the General ad Regional Elections. These elections were held in November and the warning from the Caribbean Financial Action Task Force was sent to Guyana that same month.
It must have been the arrogance because neither the then President Bharrat Jagdeo nor his successor Donald Ramotar said anything. The belief is that the administration would have waited until the last minute, run to the National Assembly, and use the expected parliamentary majority to run the Bill through the House.
It turned out that the ruling party did not gain the parliamentary majority so there was to be no rushing of the Bill through the House. There should have been some form of negotiation with the parliamentary opposition but this was not to be.
Already there are those who feel that Guyana has precious little respect for any authority. It slighted the British when it was time to implement the British sponsored security development plan. It told the Americans to mind their own business when a diplomat dared to criticize the manner in which the radio frequencies were distributed; and when the Canadians dared to talk about human trafficking, the Guyana Government issued a caustic retort.
It must be this arrogance and disrespect that caused the government to believe that with one month to the deadline it could take the amendments to the National Assembly and the rest would be plain sailing. But the Parliamentary Opposition did not take kindly to being slighted so the end result is that neither side budged and the country is blacklisted.
Sometimes the society is led to believe that the government does not want the anti-money laundering Bill at this time. If that is the case then the Opposition played right into the hands of the government. Whatever the case, the business community is now in a quandary. No one is certain about the extent of harassment when one seeks to import or to export goods and services.
Having started severe punishment in the face, the government is now prepared to take the legislation back to the parliament. It is going to ask the Speaker of the National Assembly to waive the Standing Orders. Then it is going to court one or both of the opposition parties.
The big issue is why is this happening so late in the game? Courting the opposition should have been one of the earliest moves by the government. What is clear is that both the government and the opposition know that Guyana is in dire straits. They know that it cannot be business as usual. They know that they must pass the required legislation within two months or be doomed.