Guyanese who visit Guyana always say that Guyana has changed for the better, everybody has a car now, there are dishwashers and microwaves, and even cane cutters have cell phones. Well, is it really development? I want these same people to Google search cell phones in Africa, or televisions in the Philippines and they will see that people in those places have technology too. In an increasingly global economy, technology transcends borders and Guyanese would’ve experienced these technological innovations regardless of which political party is in power. 

The Guyanese people need to know that they will have to shoulder the burgeoning debt of Guyana and should always examine and scrutinize any government projects that require more national debt because a continuous budget deficit, trade deficit, barely existent local economy, an unskilled labour force, high unemployment rate resulting in social ills, etc. are all ingredients of a concoction that will result in a vicious, self-perpetuating cycle of “growth without development” in Guyana where those in power will continue to enjoy a decadent lifestyle while the common Guyanese will continue to languish in mediocrity without achieving their full potential.

Guyanese citizens need to realize that the country’s debt is their debt. They need to ask the government how they plan on repaying the debt; what percent of GDP will be used towards debt repayment? What are the interest rates on loans? Are these rates fixed, variable, capped? Are the loans hedged to the US dollar or Guyanese dollar? How will the government combat inflation in face of a growing external debt? 

Avinash Pulchan was born in Georgetown, raised in Corentyne, Berbice and attended President's College. He has a Masters in Financial Mathematics, Fundamentals in Quantitative Finance, and Bachelor of Science in Economics from the University of Minnesota. He is now preparing to pursue a PhD in Economics.

Ray, Why dont you take a look also at the US Debt crisis???

is this a US forum?

OK so from now on only Guyanese Stories and statistics are allowed.

Yuh bin ah school, right??? Ever heard of compare and contrast???

Bhai, Yuh Deh Admin, do what you want.

bai...if yuh cyant handle the truth...then

I cant handle the truth?? How laang now tyuh kno Uncle Nehru???

Tell Pulchand that there is need to worry about a debt default. This is not the PNC gov't that ran the country in the ground.  Debt to GDP ratio may have increased during the last five years but it surely decreased from the last twenty years. This politicians know what piece of information to give and what not to give.

Exactly how long the PPP has been running Guyana?

As a moderator I would expect you to ask an intelligent question.

Yo leave the Murderator alone.

as usual...yuh cyant deal with the facts

Why should we look at the US debt? Is Guyana and the US on an equal financial footing?

According to him; yes. But this is to be expected. The guy left Guyana since 1992 and is yet to return. This alone should tell the board something.

What has the PPP/C done to reduce the debt after they took over from the PNC?

Build mansions on GOVT. salaries.

You could always start a thread on the US Debt Crisis for discussion.

They went to the local rum shop to drown it.

It's bad news when you know something about somebody. You make it your duty to let the world know about it even if its a lie. You can prappa pusur pusur people business.

This has nothing to do with people's business. If one is out of touch with current events in the homeland, one shouldnt be speaking with such assertiveness. sometimes it's good to read what those who actually go there have to say. no?

Debt to GDP only decreased under the PPP because there was massive debt write off, and Guyana's poverty allowed it to benefit from debt on concessional terms.  Even the CDB has a special debt window for Guyana because of its "poverty".  Even Dominica and St Vincent cant borrow from that window.  Reason is that Guyana is at the bottom of most indicators of socio economic condition within the Anglophone Caribbean.  No change despite 21 years of PPP rule.

The GDP is six times larger that it was in '92. Debt write-off was not the only factor that changed in the equation.

That's because the PPP controls the numbers. Where are the jobs for the graduates?

The PPP is wasting the money. Then there is 10% corruption tax.

Wastin and tiefin

Guyana remains the POOREST CARICOM nation, aside from Haiti.

That's the stupidest retort to an engaging post. Is that all you got, LagooBagooMan?

Do you know what an intelligent question is? Or for that matter, do you know anything that's intelligent?

In Trinidad, Barbados and Antigua. 

Isn't the PPP not embarrassed that the LARGEST group of people utilizing the CSME freedom of movement for university graduates and skilled workers is GUYANA!  Not only are we applying from Guyana, but we even apply from other country's.  A large % of people applying from Grenada were GUYANESE.

Why are we content to see our folks flee to staff other countries' schools and hospitals as they lose their own people to North America and the UK?  We have a DOUBLE brain drain.  To the USA, Canada and the UK, and to the rest of CARICOM!

No wonder the nurses are failing their exams.  The best teachers and nurses are now teaching Bajans!

Govt.... topples in Parliament

Now... PPP seriously hurt as…

Guyana off-track