New Elections...........this time no fraud

RE:

Meanwhile, the Opposition Leader said he recently met with some businessmen in Region 5, who expressed “grave misgivings” about the law that is currently before Parliament – the Financial Institution Amendment Act.

According to Jagdeo, the businessmen are worried that the Guyana Revenue Authority (GRA) “will be used politically to go after their information and I am very fearful about what this could trigger.”

Opposition Leader, Bharrat Jagdeo. [iNews’ Photo]

The Opposition Leader noted, “Many of them probably will pull their money out of the system. If that happens you will have a large scale movement of resources, switching to US dollars or to be externalized to capital fund; this could cause a run of the banks as well as major problems with our currency and I urge the government to be careful about the signals they’re sending because if that were to ever happen, we will trigger a crisis of unimaginable proportions in this country.”

Is this to scare the Govt so they stop going after the creeps who used the country's funds as theirs?

Or does he mean, those doing business under the radar is now afraid of the tax man and have lots to answer for?

Or a bit of both?

Guyana’s economy grinding to a halt; Jagdeo has “major concerns”

October 24, 2015 12:59 pm Category: latest news A+ / A-

 

 

[www.inewsguyana.com] – Opposition Leader, Bharrat Jagdeo is fearful that Guyana could be heading for a major financial crisis even before hitting an economic crisis.

 

The PPP Leader told a news conference on October 24 that he has “major concerns about the economy and it grinding to a halt.” He said this is not just reflected in the country’s growth rate but in the loss of income and jobs.

“My fear is that we may have several financial crisis long before we have an economic crisis, particularly with the currency and with our banking system,” Jagdeo told reporters.

Guyana recorded a 2.5% decrease in its economic output for the first half of 2015 when compared to 2014, according to the Mid-Year Report, released by the Ministry of Finance.

According to the Report, at the time of the preparation of Budget 2015, preliminary estimates had indicated the country’s half year growth rate at 0.9 percent. The Report stated however that with the passage of time and the benefits of the actual first half performance in a number of sectors, the country recorded real Gross Domestic Product (GDP) of 0.7 percent in the first half of 2015, with non -sugar GDP recording a growth rate of 0.8 percent.

Meanwhile, the Opposition Leader said he recently met with some businessmen in Region 5, who expressed “grave misgivings” about the law that is currently before Parliament – the Financial Institution Amendment Act.

According to Jagdeo, the businessmen are worried that the Guyana Revenue Authority (GRA) “will be used politically to go after their information and I am very fearful about what this could trigger.”

Opposition Leader, Bharrat Jagdeo. [iNews’ Photo]

 

The Opposition Leader noted, “Many of them probably will pull their money out of the system. If that happens you will have a large scale movement of resources, switching to US dollars or to be externalized to capital fund; this could cause a run of the banks as well as major problems with our currency and I urge the government to be careful about the signals they’re sending because if that were to ever happen, we will trigger a crisis of unimaginable proportions in this country.”

 

Guyana is headed to an economic depression under the PNC. 

Originally Posted by asj:

Guyana’s economy grinding to a halt; Jagdeo has “major concerns”

October 24, 2015 12:59 pm Category: latest news A+ / A-

 

 

[www.inewsguyana.com] – Opposition Leader, Bharrat Jagdeo is fearful that Guyana could be heading for a major financial crisis even before hitting an economic crisis.

 

The PPP Leader told a news conference on October 24 that he has “major concerns about the economy and it grinding to a halt.” He said this is not just reflected in the country’s growth rate but in the loss of income and jobs.

“My fear is that we may have several financial crisis long before we have an economic crisis, particularly with the currency and with our banking system,” Jagdeo told reporters.

Guyana recorded a 2.5% decrease in its economic output for the first half of 2015 when compared to 2014, according to the Mid-Year Report, released by the Ministry of Finance.

According to the Report, at the time of the preparation of Budget 2015, preliminary estimates had indicated the country’s half year growth rate at 0.9 percent. The Report stated however that with the passage of time and the benefits of the actual first half performance in a number of sectors, the country recorded real Gross Domestic Product (GDP) of 0.7 percent in the first half of 2015, with non -sugar GDP recording a growth rate of 0.8 percent.

Meanwhile, the Opposition Leader said he recently met with some businessmen in Region 5, who expressed “grave misgivings” about the law that is currently before Parliament – the Financial Institution Amendment Act.

According to Jagdeo, the businessmen are worried that the Guyana Revenue Authority (GRA) “will be used politically to go after their information and I am very fearful about what this could trigger.”

Opposition Leader, Bharrat Jagdeo. [iNews’ Photo]

 

The Opposition Leader noted, “Many of them probably will pull their money out of the system. If that happens you will have a large scale movement of resources, switching to US dollars or to be externalized to capital fund; this could cause a run of the banks as well as major problems with our currency and I urge the government to be careful about the signals they’re sending because if that were to ever happen, we will trigger a crisis of unimaginable proportions in this country.”

 

Guyana is headed to an economic depression under the PNC. 

Yuji bro, Guyana is not headed; it's already there. Dem peeple have to grin an bear dem punishment.

The slowdown started in 2013 when PPP was in power. These cycles have to work themselves out. However the govt could have done a lot more to assure business confidence. Expectations determine business decisions today...and the govt has not managed expectations well.

But what is the govt you support doing about it? Why don't you advise then properly or is your second rate education an impediment to sound economic advice?

No need to get personal.  Are you qualified to rate the man's education?  What's your?  Of course you can be free to be whatever you want to be hiding behind an alias.  You people hiding behind aliases need to chill out.

I am not a govt advisor. The govt has a team of old retired advisers. In addition I am very busy with academia and being a part owner of a start up IT company. But if the old men want to seek my advice I am always open. 

You were among the first of the AFC crop to break away and support the APNU, now they don't even reward you with lil minista wuk or even economic advisor?  You got shafted. 

RE:

Meanwhile, the Opposition Leader said he recently met with some businessmen in Region 5, who expressed “grave misgivings” about the law that is currently before Parliament – the Financial Institution Amendment Act.

According to Jagdeo, the businessmen are worried that the Guyana Revenue Authority (GRA) “will be used politically to go after their information and I am very fearful about what this could trigger.”

Opposition Leader, Bharrat Jagdeo. [iNews’ Photo]

 

The Opposition Leader noted, “Many of them probably will pull their money out of the system. If that happens you will have a large scale movement of resources, switching to US dollars or to be externalized to capital fund; this could cause a run of the banks as well as major problems with our currency and I urge the government to be careful about the signals they’re sending because if that were to ever happen, we will trigger a crisis of unimaginable proportions in this country.”

 

 

 

 

 

 

 

Is this to scare the Govt so they stop going after the creeps who used the country's funds as theirs?

 

Or does he mean, those doing business under the radar is now afraid of the tax man and have lots to answer for?

 

Or a bit of both?

Cainman, dem Coalition bais aint have time fuh ask no one any questions. They too busy counting their new found wealth.

BG, in real life most do not seek rewards, when they do something to improve the lives of others.

They do their part  to build and allow others to continue where they left off.

They don't get shafted, because they don't seek personal gain in the first place.

Change your thinking bai, don't always look for rewards, when you do something for others.

Try a random act of kindness and walk away.       

Indeed. Even after winning the elections, they were more preoccupied with elections campaigning. Obama told the Republicans after the 2008 elections that the elections were over. Seems like the Coalition bais didn't realize that it was over. Their early pronouncements were pre-mature, unadvisable and damaging.

Was it fraud because your Indo KKK tendencies suggest that Indian voters are the majority, so that the PPP cannot lose?

On TWO occasions the majority of the voters REJECTED the PPP.

LIVE WITH THAT!

Guyana's "boom" was tied to speculative activities and a growing Chinese economy, both of which led to a commodity price bubble.

Well that is now over, and life is increasingly back to normal.  Prior to 2007 there was relatively little growth in the economy.  The boom of the 90s had worked itself out by then.

Druggie is a kid who only attended school in August.  Forgive him.  He used to post regularly, but was driven off GNI in shame when even people like Nehru used to laugh at his stupidity.

He seems to have learned nothing in his period of absence.

Guyana needed a new govt. So, I am glad I helped to push the coalition which the VPs stringently opposed at one time. Coolie people they said will never vote for blackman. I said all you need is 6% coolie people to vote for blackman and these disgraceful Indos are out. Honestly I never had any intention of working for $1 mill Guyana $$. I have other interests...my task now is to move from being middle class to multimillionaire in US$ within 10 years (LEGALLY...I don't push like you!!). Having said that, if the pre-independence generation can come up to scratch with 21st century youths we can help watch their backs.

This coolie is calling his mattie coolie stupid. I think you are glad that the Government is inept because you want them to writ some more irrelevant and useless papers about the dankey kart economy.   When you wake up in the morning, how come Jagdeo is domination the news?.  He is consistently kicking the ministers backsides and there is no response from that Judas, the coolie bully Prime minister.

No doubt! Mr Jagdeo makes a lot of noise...random noise...in blind people country.

Yes! Indeed and the noise he makes is very effective.  It makes intellect like you run cover..  Am I not right.    He gave Kakamootoo a nervous breakdown.

hahahahahahaahahhahahahahhahaaha.

BJ making nuff noise to try and drown out the noise of all the news coming down the pipes regarding the Annual Auditor General's report which revealed MASSIVE PPP CORRUPTION EVERYWHERE.

Is a good ting PPP lost.

You honestly believe that TK intended to improve the lives of the Guyanese public by being the 1st to jump ship to the APNU without even seeing their economic plan?  As I told him many times, those who failed in the real world sometimes resort to teaching. 

Fool the ppp was running a underground economy  now that the in legals businesses is at a stand still business is suffering 

Continue to blame the PPP for the failure of the afc/apnu. You guys now in charge, stop playing the blame game and get to work on fixing the economy.  Instead of making a show of cleaning up the filth in Georgetown that Green should have taken care of, you should concentrate on economic initiatives to get the economy going. 

When we jail all those PPP ministers that thief then Georgetown will be clean