Consolidated Fund in heavy overdraft

Shaits, you're working hard for the new gov't.  Best of luck.  

Finance minister got some pip on his shoulders,

not like them kanta economist.

We need to get away from this self-destructive mindset of giving people a free pass just because we are of the same tribe or same party.

We also need to not be unpatriotic and anti-nationalist by hoping the new Government fails. We're better than that. Or at least we should be.

I truly hope the new Government succeeds as should we all no matter who we supported in the election. The election is over. Let's support the Government where possible and oppose them where necessary.

You and I would be here dogging the PNC if they had handed over a Consolidated Fund which apparently not only has no funds but is in overdraft.

P.S...I still support the reformation of the PPP and will continue to do so. I will not, however, support their return to Government as they are still unfit to govern. Anyone who thinks Guyana was governed well these past 23 years needs to have their head examined.

Well said. the people in GY need to support the gov't

of the day,if they goof up let your voices be heard.

Everyone I spoke to in GT want to see the Govt succeed.  Many have expressed "cautious hope" in Granger.

I am hoping for success,i read the telecommunications

bill is on the front burner when parliament convenes

also the money laundering bill.

stop tax free salaries from President down, stop duty free, and whatever else where money for the treasury is slipped out and the coffers will grow to give the poor man a bite in his plate. Ministers free housing is a no no, they work for a salary and must provide their housing like every one else.

you have a point in poor countries,politicians don't need

all that spiff.

Not sure.  I think VAT/high Duties were put in-place to compensate for the porous tax collection due to the many undocumented/underground transactions taking place.  Many are getting rich and not paying their fair share.  The Govt have to look at ways to mitigate true employees who pay fair taxes through withholding.

Baseman's position, they are being effectively "double taxed" forcing many to augment their income through petty bribes and/or participating in the underground economy.  Government employees do bear the brunt of this unjust tax system and so do many legit employees in the private sector.  These inequities in the tax system need to be addressed either via a earned income tax rebate or some other VAT mitigating measures for selected items.   I know it's not a simple administrative process, but "simple" is not always the best solution.

If they were hedging properly they should not lose money like this. The counterparty on Wall Street who sold the put contract to Gold Board will take the downside hit. They were probably selling in the spot market and they were not updating the price at which they offer the miners. So while spot prices were collapsing, they were probably offering the miners high prices. I can see why the PPP had to do this to entice the miners to declare at the Gold Board. That's not an industry in which only saints operate. The PPP's instinctive communist modus operandi kicked then in. If they came clean they would not have had to run parallel treasuries to fill one hole by digging another. All they should have done is come clean. Collapse in world gold price is not their fault.

Doh is Pavi's own words.

Their fault is over spending, and not depositing income in the consolidated fund. The economics of gold should stay with the  trading of gold and net deposit over here. They should not use the nations "bank" in hedging.

By the way, who has a sound hedging formula? It is shaky business and  only the brokers win.

That's another issue their waste and bad sequencing of projects. What I am saying is if indeed Gold Board was buying options they will not lose money on the downside. Farmers do it all the time. Airlines do the opposite option. I am not talking about option pricing. They were most likely not reducing the price they were offering the miners, so they dig a deep hole, which BTW is an implicit subsidy to the miners. If the price they offer the miners in G$ is not competitive the miners will take back road. Many do regardless.

I got to give duh bhai credit i stole his line.

The banna is our own white rum poet .

watch this f**king liar and stone cold bigot try to rewrite history

shaitaan, you were the lead regime attack dog on GNI deploying the most hateful, the most mendacious, the most vile and breathtakingly racist PPP 'campaign support' within memory

the lack of restraint and absence of boundaries framing your crude tribalism is scary radioactive, making me pause and reassess many, many things i heretofore thought settled (in context) about the existence of EVIL

remember "daag fuh daag, cyat fuh cyat!"? i do

typical parasite, yuh now feeling for a new host - reaching up to whisper sweet Hindutva nothings in Moses ears

sk*nt and skunk don't even approach adequate to describe yellabelly bigot antiman like u

How come they own all the cake shops. 

TK, Donald Ramotar's daughter Lisavita is Head of the Gold Board. Just as Donald didn't concede to Granger, it looks like Lisavita will not cede her position voluntarily. She definitely has to be removed from office.

The Hedge fee is determined by the risk and in most cases, the almost mitigate each other from a value perspective.  What the hedge brings, apart from the outside risk of any prediction going way off, it brings "predictability" to projected income.  What are you referring to, hedge the commodity price movement?  The data which will be used by the counter-party is available, so, instead of paying a hefty sum, why not use the data to determine an adequate reserve to absorb the risk?  In other words, hedge it yourself.  If you are talking currency risk, well Guyana imports more than exports, so all exports are already "naturally hedged", at least for key currencies.

I don't know all the facts, but it just seems some very sloppy accounting.

I guess when Winston finds evidence of gross incompetence and corruption she wants to be easy to arrest.

You know she is very qualified with two masters degrees. One funded by a merit-based scholarship. I would think there is a role in Guyana for such young people in Guyana with better political leadership. As I said, the hedge issue is a non issue, as it is not possible to lose money on such an option contract unless the counterparty goes belly up. And we know that not happen.

I do not care how qualified she is. If she is squatting on a post because of nepotism she ought to be removed. We need to hire people on a competitive way based not only on their credentials but aptitude for work, work experience. Alexi had the paper knowledge but he screwed up laying down cable so credentials are not enough.

The problem in her appointment it was a matter of optics, which the PPP never cared about. But you will be hard pressed to disentangle nepotism and qualification in this instance.

I know Jordan from UG days, bright guy! Always wondered what happened to him.  We used to call him Burnham stepson, he was in close with fatboy....good choice : D

ROTFL.....Who tell yuh dis Lawyer Gyal?

If PPP coolies couldn't run a  cake shop, why is granger wants to invite them to join his cabinet.  He is Moses and Khemraj already.  Do you need more?