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Govt rejects opposition’s oil bonus claims


“The account is a public account and therefore accessible to the Auditor General; signatories to the account are all public servants not government ministers” – Min. Jordan

─ account was never hidden

─ there is a transparent mechanism for transferring funds

Minister of Finance, Winston Jordan today slammed allegations made by Opposition Member of Parliament (MP), Juan Edghill that the US$18M signing bonus from US oil giant ExxonMobil was hidden for over a year.

Edghill made the statement in a letter to the press today.

According to Minister Jordan, the money was never hidden, as it was always in an interest-bearing account at the Bank of Guyana (BoG).

“The account is a public account and therefore accessible to the Auditor General; signatories to the account are all public servants not government ministers,” he said.

According to the finance minister, there is a transparent mechanism for transferring funds from the account to the Consolidated Fund then out to pay legal fees via the budget.

“So far, US$3.7M has been transferred, with a copy of the request to the transfer the funds sent to the Auditor General.”

Minister of State, Joseph Harmon last year had reported that the US$18M signing bonus would be placed in the Consolidated Fund before it is used to pay lawyers to fight the Venezuela border controversy case at the World Court.

“That bonus, wherever it would be placed into the Consolidated Fund and it is from that fund that any team whatsoever will be paid whether they are working or worked before or work after,” Minister of State, Joseph Harmon had said at a press conference.

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Not a good explanation or practice. I hope this is not the excuse he will use when we get disbursement for oil; put it in a special account, extract fees for  supposed necessary projects and then decide to place the rest in the consolidated fund. You put the money there as the central accounting and budgeting authoritative account to begin with.

FM
D2 posted:

Not a good explanation or practice. I hope this is not the excuse he will use when we get disbursement for oil; put it in a special account, extract fees for  supposed necessary projects and then decide to place the rest in the consolidated fund. You put the money there as the central accounting and budgeting authoritative account to begin with.

The money was put aside for legal fees to fight the Venezuela border controversy case at the World Court. They should have declared such when the Bonus was received and what it will be use for.

Django
Django posted:
D2 posted:

Not a good explanation or practice. I hope this is not the excuse he will use when we get disbursement for oil; put it in a special account, extract fees for  supposed necessary projects and then decide to place the rest in the consolidated fund. You put the money there as the central accounting and budgeting authoritative account to begin with.

The money was put aside for legal fees to fight the Venezuela border controversy case at the World Court. They should have declared such when the Bonus was received and what it will be use for.

That so much crap for an explanation. This is not the APNU money to handle as they see fit. It is the nations money and to be placed in the consolidated funds and any demands for payment made through the regulatory process and disbursement made. The APNU was complaining similarly with the PPP handling of the lottery cash and the money from the  ATN sale. You have to practice what you preach.

and 18 million for a 2 man team to file briefs? Ramphal et al know how to use the nation like a baby on a bubby.

FM
Last edited by Former Member
D2 posted:

and 18 million for a 2 man team to file briefs? Ramphal et al know how to use the nation like a baby on a bubby.

i think the minister said that 3.7 million was disbursed

i am not comfortable with the handling

but please don't misinform

a sense of proportion is needed for mature discourse

FM
ronan posted:
D2 posted:

and 18 million for a 2 man team to file briefs? Ramphal et al know how to use the nation like a baby on a bubby.

i think the minister said that 3.7 million was disbursed

i am not comfortable with the handling

but please don't misinform

a sense of proportion is needed for mature discourse

That was disbursed; the APNU also stated that the money meaning all of it was allocated to the fight. The confusion is not mine. It is the one they project on account of the shifting sands of explanation as to whether they had it, what was done with it and how it was being allocated.

FM
Last edited by Former Member
D2 posted:
ronan posted:
D2 posted:

and 18 million for a 2 man team to file briefs? Ramphal et al know how to use the nation like a baby on a bubby.

i think the minister said that 3.7 million was disbursed

i am not comfortable with the handling

but please don't misinform

a sense of proportion is needed for mature discourse

That was disbursed; the APNU also stated that the money meaning all of it was allocated to the fight. The confusion is not mine. It is the one they project on account of the shifting sands of explanation as to whether they had it, what was done with it and how it was being allocated.

how is an $18 million set aside for this multi-national mother of all legal "fights" excessive?

FM
ronan posted:
D2 posted:
 

how is an $18 million set aside for this multi-national mother of all legal "fights" excessive?

This is not a mother of all legal fights. Maintaining it is so means you affirm the validity of the nonsense of some body's grand father passing a note to another person about a hundred year ruling that was signed by all. This is affirming  treaty where the the witnesses are states and the only one reset-tinging the story line is a rogue nation.

The world court is mainly a political organization vs a court. It will affirm the ruling as it stands and Venezuela will reject it ( as Guyana would if it was ruled against us). This is PR rather than Law. ( international law is about who has more guns)  The reality is we should be planning to be able to persuade allies to stand with us and that needs real PR so 18 million or more than one mil to ramphall et al is a waste of money. I would even trust Basil Williams on this one. 

FM

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