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FM
Former Member

IT IS with great amusement that I have observed the recent attempts by the opposition mouthpiece newspapers, Stabroek News and Kaieteur News, to rewrite history and reinvent Mr. Carl Greenidge.
Let it be recalled that Mr. Greenidge served as Minister of Finance from 1983 to 1992, and presided over the worst decline ever of the Guyanese economy, when the entire
physical and social infrastructure of the country collapsed, when the public treasury was plunged into bankruptcy,

and when the country was deemed an economic pariah state unworthy of receiving credit from any international agency or bilateral partner.
One merely has to examine Greenidge in his own words.
In his 1989 budget speech, after he had held office for six years, he confessed “the performance in 1988 as measured by GDP growth was very disappointing. Real GDP declined by 3 percent”. He continued, “Exports also fell a sizeable 36 percent below the recorded 1987 level”. He further added, “In addition to lower than planned foreign inflows, the shortage of building materials, especially cement and stone caused delays in the commencement and completion of several projects”. To compound matters, Greenidge stated, “interest payments continued to claim a large share of current expenditures, rising from the budgeted 32.5 percent to 33.5 percent”. He added, “The financial performance of the public enterprises was considerably below expectations as a result of declining productivity”. Worse yet, he stated, “Major roads and highways deteriorated further in 1988 as maintenance programmes were frustrated by the unavailability of road-building materials such as stone and bitumen and equipment”. And the story goes on.
So no matter how much reinvention is done to Mr. Greenidge, his dismal track record has been captured for posterity, in his own words.

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Guyana is still the 2nd poorest country in the Western hemisphere. Even Bolivia is financially more sound, and they are high up in the mountains.

So 20 years of PPP terror has not made a difference to our financial status.

Mr.T

One merely has to examine Greenidge in his own words.
In his 1989 budget speech, after he had held office for six years, he confessed “the performance in 1988 as measured by GDP growth was very disappointing. Real GDP declined by 3 percent”. He continued, “Exports also fell a sizeable 36 percent below the recorded 1987 level”. He further added, “In addition to lower than planned foreign inflows, the shortage of building materials, especially cement and stone caused delays in the commencement and completion of several projects”. To compound matters, Greenidge stated, “interest payments continued to claim a large share of current expenditures, rising from the budgeted 32.5 percent to 33.5 percent”.

FM

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