January 2022
Sorted by last update
All of us went to school…
Don’t matter if is lil or big ABC ( where’s Terry?)
personally, no matter if u made it to phd or std 4….all that matters is that u share some experiences whether be good, bad, ugly, funny, sad….ridiculous etc etc!
Let me start!
This memory was refreshed by a few classmates not too long ago
and it was primary school😁 I start to smile as I recall it
so there was a big wedding at my neighbours and almost all the people form my little village was there ( well most of us were related) and of course the kids are all there.
The following week all of us had wedding ceremonies under the school house ( school was on posts about 4 ft high ( guessing for flood days)
So technically I have been married lots of times because after few days we had other weddings with other classmates ( what is it called when u switch partners?) The girls ‘borrowed’ our moms’ white lace half slip and tied it up with strings to make wedding dresses, we made flower bouquet and even headwear with grass. When the senior mistress son ( who was ‘married’) go and tell his mom we all got called up. She was very nice( she taught my mom in std one and 18yrs later she taught me in std one, then I became her pupil teacher after high school…She was the most inspirational person in my life ( apart from my nana) To this day her son and I are friends as is the girl he ‘married’ and she is 92 and still say I am one of her daughters….
more to come…some wild and wicked 😉😁
bring on your stories…
Looking for anyone in this family who owned the home n lived at LOT 1 Shell Rd Kitty ie the 1st house (2 storey bldg) on the right after u cross the narrow bridge from Vlisssengen Rd. It was a 2 storey bldng. The old man was called Sadhu n his wife was known as ‘MAAMEE” (I dont know their real names). They lived upstairs with daughters Meena n youngest daughter Gaitree who was attending St Jospehs High sch in the late 70’s. 1 daughter , Sis Ragya n her hubby Mahadeo lived downstairs (which had 2 sep apts). The son Madho lived with his wife in the other apt (I called her Bhoujie..I dont know her name.). 2 other daughters..Chunchie n I dont rem the other girl’s name (but she was married n lived in Enmore) lived with the parents upstairs. Maame had a bro called Baboo .I dont know where he lived but he visited them often. They used to mind a few cows in a cow pen in the backyard . Last time i visited was around 1984 i think..I know the old man died ..
MY sis stayed with them in 1974 ( i think as she was in nursing sch at PHG)
Also, my dad was a patient at PHG in 1969, my mom n I stayed with them for a few days to visit my dad in the hospital. When I was at UG n even after I grad in 1979, I used to visit them as I lived in Newtown Kitty from 79-84
My cuz Shabna (Rahaman) from LeDestein , EBE
(Chams..Khaleel Mamoo’s daughter )
It would be really nice if folks who interacted with him (and even those who didn’t ) can post songs in his memory.
He loved his music, especially Indian songs
Dedicating the first song to Dara’s Jeevan Saathi
January 26 ,2022
Multiple party sources have confirmed that Mr. Harmon tendered his resignation this morning as Opposition Leader to the Speaker of the National Assembly as well as to the Leader of the PNC and APNU Chairman Aubrey Norton and Alliance for Change Leader Khemraj Ramjattan.
APNU+AFC Member of Parliament, Joe Harmon has tendered his resignation as Leader of the Opposition.
Multiple party sources have confirmed that Mr. Harmon tendered his resignation this morning as Opposition Leader to the Speaker of the National Assembly as well as to the Leader of the PNC and APNU Chairman Aubrey Norton and Alliance for Change Leader Khemraj Ramjattan.
While Harmon has resigned as Opposition Leader, he is expected to maintain his seat in the National Assembly and is likely to remain as a frontbencher in the Assembly on behalf of the Opposition.
His resignation sets the stage for the election of a new Leader of the Opposition. The People’s National Congress Reform has indicated that it wants its Leader, Aubrey Norton to become a Member of Parliament and be elevated to the post of Opposition Leader.
For Norton to become a Member of Parliament, it would mean that one of the current MPs sitting in the House on behalf of the PNC and APNU might have to be replaced with Norton.

The Opposition has been moving like clockwork in the past few days setting the stage for a new Opposition Leader.
On Monday, fromer PNC Leader Mr. David Granger indicated that he would be stepping down from the position of Chairman of the APNU. He kept his word and stepped down from the position one day later on Tuesday morning as he met with other top members of the APNU.
At the time, Mr. Harmon also indicated that he would be stepping down as General Secretary of the APNU.
Immediately, the PNC Leader Aubrey Norton was elected to the position of Chairman of the APNU. The People’s National Congress is the largest party in the APNU+AFC Coalition.
Norton and Harmon have been in talks about the position of Opposition Leader over the past few weeks, after Norton’s big win in the elections for Party Leader at the PNC Congress.
Norton who has been long respected as a firebrand politician is being seen by supporters as the person who could lead a more responsive Opposition in the National Assembly.
Chinese company to commence construction of Amaila Falls Hydro project this year – Govt.
Jan 30, 2022 News -- Source -- Kaieteur News Online -- https://www.kaieteurnewsonline...ject-this-year-govt/
Kaieteur News – Senior Minister in the Office of the President, with responsibility for Finance, Dr. Ashni Singh recently announced that the Chinese contractor, who was granted approval to construct the Amaila Falls Hydropower Project, will commence operations on the mega venture this year.
The Minister made the revelation during the presentation of Budget 2022 on Wednesday last.
Dr. Singh told the National Assembly, “Regarding renewable and low carbon energy, our most promising venture continues to be the AFHP (Amaila Falls Hydropower Project) with an expected capacity of 165 MW”.
He informed that government has already requested, received and evaluated proposals for the project and negotiations are in progress with the ‘highest ranked company’ China Railway First Group (CRFG) – the same company that had previously signed a contract to build the said project several years ago.
Vice President, Bharrat Jagdeo in November of last year, during a press engagement, told reporters that a decision had been taken by Cabinet that government would be approaching the selected contractor to negotiate on the way forward.
The Ministry of Finance, in a subsequent public missive corroborated the Vice President’s assertions saying, that Cabinet had given its ‘No Objection’ to the company, as evaluated by the National Procurement and Tender Administration Board (NPTAB).
In this regard, the AFHP will be developed under a ‘build-own, operate-transfer (BOOT) arrangement where the developer would operate the project for a 20-year period before handing it over to the government, at no cost.
The Finance Minister explained, “The project will be developed under a build-own operate-transfer (BOOT) arrangement within which the Guyana Power and Light Incorporated (GPL) will purchase power from the operator under a Power Purchase Agreement (PPA). We anticipate that construction will begin in 2022 and be completed by 2027. Once operationalised, the facility will reduce the cost of energy significantly for both businesses and households.”
This year, the PPP administration has set aside some $29.4 billion to the energy sector, which it says will advance the transition to cleaner sources of energy. To this end, $20.8 billion will be channelled to the Gas-to-Energy project, while other investments will be made for solar farms in Berbice, Essequibo and Linden.
In explaining the reason for selecting the BOOT model for the Amaila Falls Project, Jagdeo was adamant that in such a situation, government would bear none of the risks financial or otherwise and that the project would be repaid for through the Power Purchase Agreement (PPA) that would have to be signed with the Guyana Power and Light Inc .(GPL).
The Vice President told reporters, “…we have a really great bid” and explained that in this iteration of the Amaila Falls Hydro Electric Project (AFHEP), “we are not going to put any money into the project, we are just buying power.”
According to Jagdeo however, this time around, it is expected that the project would be cheaper as a result of lower interest rates but even ahead of negotiations with the contractor.
As such, he said the administration is looking to generate power at some US$0.07 (cents) per kilo watt hour (KWH).
He speculated that with GPL purchasing power at that price, “we can still sell power at 15 cents per KWH, which we are hoping to do because now it’s 30 cents, and still make a good profit for GPL…we are very pleased that the bids came in and we have these offers now and the project is going to move forward.”
According to the ministry, a total of four companies submitted proposals, and China Railway Group Limited was identified as the most ‘capable partner’ by the Evaluation Committee after a rigorous evaluation process, following which NPTAB submitted the relevant recommendation to Cabinet for ‘no objection.’
It should be noted that checks conducted by this publication found that China Railway was in 2019 debarred by the World Bank for practices considered fraudulent on a highway project in the country of Georgia.
China Railway was established in 1950 and is a subsidiary of China Railway Engineering Group (CREG).
$2,000 bill goes into circulation very soon
Posted by: Denis Chabrol in Business, News Friday, 28 January 2022, 12:57 0 Comments
Last Updated on Friday, 28 January 2022, 20:12 by Writer
Guyanese will soon have a $2,000 bill to spend, Governor of the Bank of Guyana Dr. Gobind Ganga confirmed on Friday.
He said the new currency note would go into circulation in few weeks after all of the administrative procedures such as publication in the Official Gazette, alerting the public about the security features and presenting one of the notes symbolically to President Irfaan Ali.
“We are going to do it within three weeks. We are really targeting Mashramani time,” he said, adding that the note was expected to go into circulation to commemorate Guyana’s 55th independence anniversary [last year] but that was delayed due to the COVID-19 pandemic.
“It’s coming out. It’s really nice and it has our logo which is of recent, One Guyana, and it carries our national flower, our national flag. It’s a reflection of our cohesiveness and our natural and national heritage that we want to portray,” he told News-Talk Radio Guyana 103.1 FM/Demerara Waves Online News.
Asked why the Bank of Guyana did not instead introduce a higher denomination because of rising prices, Dr. Ganga suggested that that would not be a good idea because of expected currency revaluation in the coming years. He suggested that Guyana might in the long run have to return to $1.00, $5.00 and $10.00 bills because “the currency shouldn’t be depreciating any further.”
The Central Bank Governor says that he had already hinted some months ago that a $2,000 bill will be produced.
$2,000 bill goes into circulation very soon – Demerara Waves Online News- Guyana
June plum/Golden apple. Darn thing would make our gums bleed if not careful eating it. It supposedly is high in Vit A
How about my fav psydium
Kwaku died last nite in Long Island hospitaL..he was 67 yrs old.
Reggie Yong, former teacher at StMary’s Primary Sch , Camp St n Brickdam . He was a close friend of mine ..RIP Reg..will miss u n I am sure that the black cake ( my xmas gift) u left for me will b the best Ive ever tasted !
I had introduced placing a wet piece of tissue on my grandkids foreheads whenever they had hiccups which they have used on occasion and strange enough it seems to work.
Just recently my niece started with hiccups and she remembered so she went to her grandma and asked to have it done..voila..gone. I did look it up a while back and it was said to do the trick 85% of the time but there is no explanation on how it works.
Annette Ferguson
January 29 ,2022
APNU+AFC Members of Parliament (MPs) Annette Ferguson and Christopher Jones are among a group of eight persons who were on Friday freed of a charge that they participated in an illegal procession last year.
Ferguson, Jones, Mark Griffith, Travis Ellis, Gordon Lucas, Gary Morris, Malcom Ballison and George Halley were jointly charged with the offence in May 2021.
The proceedings against the MPs and other accused were concluded yesterday when Georgetown Magistrate Rhondel Weever upheld no-case submissions made by the defence and dismissed the charge.

The charge stated that on April 26, between Croal and Regent streets, Georgetown, the accused took part in a procession without permission of the Chief Officer of Police having first been obtained.
Ferguson, Jones, Grif-fith, Ellis, Lucas, Morris, Ballison and Halley had pleaded not guilty to the charge. Ferguson was also facing a separate charge which alleged that she obstructed a peace officer. She was freed of that charge as well.
Attorneys-at-law Joseph Harmon, Darren Wade, Geeta Chandan-Edmond, Ronald Daniels and Lyndon Amsterdam represented the defendants.
The offence was allegedly committed following the ruling by Chief Justice Roxane George on the APNU+AFC elections petition, which saw some coalition supporters taking to the streets afterward to protest the decision.
According to a press release issued by Amsterdam, Ferguson was charged with the offences taking part in an illegal procession and obstructing a peace officer in the execution of his duties.
The release said that during the trial, Command-er Simon McBean and seven other Police Officers gave evidence to support the charges. It added that Magistrate Weever identified the numerous conflicts in the testimony of the police witnesses and in some cases the lack of evidence to prove elements of the offences.
It was noted that the Commander admitted under cross-examination that the persons who had gathered in the vicinity of the High Court did not need a permit from him to do so nor did they need a permit to walk along Croal Street, Regent Street after the ruling as the law required the organizer of a procession to obtain a permit and not the individual participants. There was no evidence before the court as to who was the organizer of a procession on the date.
In dealing with the charge of obstruction against Ferguson, the release said the Magistrate noted the conflict in the evidence between Sergeant Hosannah and Assistant Superintendent Wendella Boyce as to what Ferguson is alleged to have done that constituted the charge. According to the release, Hosannah had said that the MP walked up to him and said ‘I will handle this,’ while Boyce claimed that Ferguson stood between Hosannah and Ellis and prevented him from arresting Ellis. It was noted by the Magistrate that Hosannah said he arrested Griffith for disorderly conduct and not Ellis as stated by Boyce.
Additionally, the attorney said in the release that the two MPs always maintained that the charges against them and the other defendants were politically-directed and were satisfied that their innocence was vindicated in a Court after a trial and not based on the intervention of the Director or Public Prosecutions.
2022 marks pivotal year in Guyana’s transformation as landmark projects set to roll out
A section of Guyana's capital city, Georgetown.
The Guyana government is sparing no expense to facilitate the transformation of the country’s infrastructure with billions in funding being set aside this year for major development projects in the oil producing South American nation.
The government said last week it is committed to improving international, hemispheric and regional connectivity; creating, re-establishing and improving communication linkages between major urban, rural, hinterland and inland centres as well as to improve trade and competitiveness.
Guyana government to pump GY$20.8 billion into landmark gas-to-energy project
And in that regard, some GY$76.7 billion has been allocated for roads and bridges, of which GY$49.2 billion will be spent on roads and GY$27.5 billion on bridges respectively, Senior Minister in the Office of the President with responsibility for Finance Dr. Ashni Singh announced last Wednesday.
For roads, the major allocations include: GY$8.3 billion for the rehabilitation of the Corentyne Main Road from Palmyra to Crabwood Creek; GY$6 billion for the construction of the Linden-Mabura Hill Road; GY$3.4 billion for hinterland roads; GY$2.6 billion for the rehabilitation of the entire Soesdyke-Linden Highway; GY$2.3 billion for the East Bank-East Coast Demerara Road Linkage between Ogle and Eccles; GY$1.1 billion to complete the Sheriff Street–Mandela Road Network and Expansion Project.
Some GY$15.2 billion has also been allocated for the construction and rehabilitation of additional urban and community roads.
To tackle the major traffic congestion on Guyana’s East Bank Demerara corridor, the government has already constructed and operationalised a 3.7 km inter-community road link between Mocha Arcadia and Diamond.
And by the first quarter of 2022, a new four-lane highway linking Mandela Avenue to Haags Bosch will be completed to ease the daily traffic chaos experienced there.
Guyana’s energy sector gets GY$29.4B in National Budget to kick start hydropower, solar projects
Dr. Singh in his presentation outlined that construction of the four-lane Ogle to Haags Bosch road will also commence shortly.
Some GY$2.1 billion will also be spent this year to widen and pave the East Bank Highway from Grove to Timehri while preparatory works for the widening of the East Coast highway from Annandale to Mahaica, the upgrade of the railway embankment from Sheriff Street to Orange Nassau, and the construction of the new four-lane superhighway from Schoonord to Parika have commenced.
With respect to the country’s bridge infrastructure, some GY$21.1 billion was allocated to advance construction of the new, fixed four-lane high span Demerara River Bridge with GY$946 million budgeted to repair and maintain the aged existing floating bridge.
Dr. Singh announced as well that some GY$4.1 billion was allocated for the re-construction of several bridges along the Kurupukari to Lethem corridor to support the phased construction of the critical Linden to Lethem highway.
And further, some GY$173.9 million was budgeted for the construction, rehabilitation and maintenance of main bridges in areas including Garden of Eden, Chateau Margot, Beterverwagting, and Cemetery Road.
Team led by Harvard Professor helping Guyana shape landmark development plan
Added to that, the government has also set aside some GY$3.3 billion to finance the improvement and enhancement of the aesthetics of the environment across major urban areas in the country, especially the capital city Georgetown.
That programme will see a number of restoration projects and programmes being undertaken.
Exchange rate: US$1 = GY$207.98
January 31 ,2022
Accounting firm Ram and McRae yesterday raised concerns about the legal status of the Natural Resource Fund Act.
In its review of the 2022 budget in today’s Stabroek News, Ram and McRae said that “There is nothing in the Act that makes the NRF a body corporate … which raises questions about the Directors’ fiduciary duty to what Chief Justice Ian Chang referred to as a none-entity”.
It was the latest in a string of criticisms of the legislation that the PPP/C government rushed through Parliament on December 29 with just days of notice and no consultation.
Ram and McRae raised other concerns about the NRF.
“While the new Act provides for a Board of Directors, those persons will have modest functions and little power. Furthermore, they must submit to the withdrawal rules in the First Schedule and the imposition of Floors and Ceilings for investments in the Second Schedule. In any case, it is unclear who the directors report to…”, the accounting firm said.
The proposed board of directors for the NRF has been pilloried as President Irfaan Ali can choose as many as three of the five directors in his own deliberate judgement. He has not said how he proposes to do this. The other two members of the board are also likely to be PPP/C friendly as one will be nominated by Parliament where the ruling party has a majority and the other will come from the private sector some of whose senior members have close ties to the PPP/C.
Noting that the PPP/C government had criticised the NRF Act produced by the former APNU+AFC government for having an opaque and unnecessarily complicated formula for determining the ceiling on withdrawals from the Fund, Ram and McRae expressed disagreement.
“A Natural Resource Fund, better known as a sovereign wealth fund, has myriad variables and several purposes with considerable uncertainties and changing circumstances. It is not something that can and should be reduced to simplicity. Oil prices are relatively high at this time but are likely to fall in the medium to long term. The formula used in the current Act allows for the automatic withdrawal of $1,250 million, or 62.5%, of the first US$2 bn. earned in any year. …such huge injections of foreign currency into a small economy can have significant consequences. It is also worth noting that that amount is not an absolute ceiling: further withdrawals in the same year are permitted for emergency financing, leaving the balance, if any, to serve as a stabilisation fund, a source of revenue and intergenerational savings”, the review noted.
Importantly, Ram & McRae said it is concerned whether the injection of the money in the Fund is properly represented in the Financial Plan. It said that Section 16 of the Act clearly states that withdrawal from the Fund can only be used for national development priorities and essential projects related to the effect of major natural disaster.
“As it is shown in the Estimates, the drawdown is purely Budget Support which we doubt is permitted under the Act. It would seem that the most appropriate thing to do would be to include in the Estimates a separate Natural Resource Fund Statement”, Ram and McRae added.
Additionally, it said that the 2019 Act allowed for the income from other non-renewable resources to be placed into the Fund. The 2021 Act does not. It is therefore not a Natural Resource Fund Act but a Petroleum Resource Fund Act, the accounting firm stated.
Coalition lectures PPP on good governance but yet to resolve challenges to elect Oppos. Leader – Hamilton
While the main Parliamentary Opposition, the A Partnership for National Unity + Alliance for Change (APNU+AFC) continues to lecture the governing People’s Progressive Party/Civic (PPP/C) on good governance, it is yet to resolve several of its own internal matters, including the issue surrounding the appointment of the Opposition Leader. This is according to the Labour Minister, Joseph Hamilton during his presentation this morning at the opening of the Budget 2022 debate at the Arthur Chung Conference Centre (ACCC), Liliendaal, East Coast Demerara (ECD).
The former Opposition Leader, Joseph Harmon had informed the House last week that he was stepping down. His notice came when the Central Executive Committee of the People’s National Congress Reform (PNCR) – the largest support base in the Coalition – signaled its desire to have its new Leader, Aubrey Norton become the new Opposition Leader. Harmon faced weekly maneuvers from his own party members to give up the post.
This morning, the Shadow Foreign Affairs Minister, Amanza Walton-Desir lambasted the government’s budget, labelling it “discriminatory” and “deceitful”. She said that the PPP/C is not fit to lead because of its alleged poor governance approach.
But Hamilton, in his retort, said, “[She’s] lecturing us about how to govern and yet, they are a spectacle to the nation, incapable of even electing or selecting an Opposition Leader. And you’re lecturing people how to govern? You’re incapable of deciding who will lead you. How will you govern the nation? You don’t know who is in and who is out.”
My Fave Mother’s song. My Maa used to sing this for me whn I was a little kid. I remember her lovingly holding my chin whn she sang ‘pyaare pyaare Maa”. 1 of my Bhojuie’s sister sang it at my mom’s funeral 7+ yrs ago but she had no idea this song means so much to me. It ‘tore me up inside’ to hear her sing it.
RIP Maa ..I miss u a lot!
Fish cage or fish cake?
Jan 31, 2022 Dem Boys Seh, Features / Columnists, News -- Source -- Kaieteur News Online -- https://www.kaieteurnewsonline...h-cage-or-fish-cake/
Kaieteur News – Dis whole plan fuh help de fishermen sound fishy. De guvament seh dem planning fuh build fish cage fuh help dem fishermen wah punishing because of low catch.
But dem boys nah understand how dis fish cage thing gan wuk. Dem boys could understand if dem cage was pun land but how yuh gan control dem fish cage pun de high seas.
Wah about if dem get a big wave and dem fish in de cage swim away. Wah bout if some shark swim in de cage and eat out dem snapper and bangamary. How dis fish cage thing gan wuk pun de high seas?
Who gan know which fish cage fuh put all dem fish in? Who gan watchman de fish cage fuh prevent dem pirates from stealing not only de fish but de cage?
Who gan feed the fish? Who can tell when de fish ready fuh harvest? Is more questions dan answers because dese cage does wuk better inland dan offshore.
Wah gan happen with dem big boat and dem fish cage. Who gan protect dem fish cage from dem big boat?
All dese questions remind dem boys bout de time when two men went fishing. One ah dem use to stammer. Suddenly, de man wah does stammer said, “shh ssshhh sshh”.
De other man ask, “What is it, did you catch a fish?”
De stammering man continue to make ssshhh noises. De other man say, “Spit it out.”
De man with de stammer says, “ssshhh ship!!”
Before de second man can react a ship crash into dem boat.
Months later both of dem recover and went pon another fishing trip. De stammering man again start saying “ssshhh.”
De second man start fuh panick thinking he going to get hurt again. He jump out de boat as fast as he can.
De stammering man say, “sshhh sshhh Shark!!”
Talk half. Leff half and watch out fuh de fish cage!
Not sure if many of you knew but I met him through some mutual GNI friends and just found out he passed away.
I believe he was a professor in a San Diego University.
I got mine week ago. Moderna no effects.
First was Pfizer
2nd and 3rd Moderna.
How about you folks
January 27 ,2022
Owing to a number of external and internal factors, including intense rainfall and the effects of the COVID-19 pandemic, Guyana saw food prices rising by some 11.6% in 2021 according to Senior Minister with responsibility for Finance, Dr Ashni Singh.
Singh made the revelation during the presentation of the 2022 budget in the National Assembly yesterday. This is the first time, since food prices began their steep rise, that the government is releasing the actual figures. The Bureau of Statistics had previously released figures but did not publish the numbers for the entire 2021.
“The immediate aftermath of the flood resulted in a sharp spike in prices, but as production returned to some normalcy, some amount of reversion was observed in the latter months of last year, leading to a 12-month inflation rate of 5.7% in December 2021. This reflected higher food prices, which rose by 11.6% and contributed 5 percentage points to the inflation rate,” he told the House.
The Minister said that while the COVID-19 pandemic continues to ripple through the world and devastate the world’s economy, Guyana also had to deal with one of the most severe floods in recent history. The intense rainfall during the first half of 2021 is partly to be blamed for the rise in food prices and the subsequent inflation, Singh related.
He stated that the 607.7 millimetres of rainfall during the first half of 2021 was the second-highest level since 1981 and spared no part of Guyana. It resulted in unprecedented damage to the food production system of the country with over 130,000 acres of farmlands affected and approximately 1.3 million animals lost.
“Our Government mov-ed swiftly to deploy mobile pumps to remove the water from the land and heavy equipment to clear previously blocked channels and shore up structures that came under threat. We distributed 3,761 medical kits to reduce the risk of waterborne disease and 74,162 food hampers to provide relief to households in distress. In addition, we distributed over $7 billion in relief cash grants to households and the agriculture sector, in addition to thousands of bags of seed paddy to help rice farmers recover from the flood,” he said.
“Unavoidably, the temporary disruption to production of food items caused by the floods contributed to some price escalation in the domestic marketplace, but these started to revert as the year progressed and as production resumed. The immediacy of our interventions helped facilitate a quick recovery from the floods. Neverthe-less, the reality of our acute vulnerability to climate change and to extreme weather events is ever-present and will only be mitigated with very significant investments aimed at achieving greater climate resilience,” the Finance Minister added.
He added that the rise in food prices was further fueled by the effect of the pandemic on the supply chain. He said that freight rates increased by over 400% over the past two years with most of that increase occurring in 2021. As a result, inflationary pressures were amplified the world over, and global inflation is at its highest in at least a decade and, in some places, inflation is at its highest in over four decades, Singh said.
The Minister warned that the disruptions created by the pandemic are not expected to dissipate in the near term.
Easing the cost of living
During his budget speech, Singh said that the government recognizes the rise in prices but added that they have observed that it is more severe in some parts of the supply chain.
“The upward price movement at the marketplace is not reflected in similar price movement at the farm gate. Indeed, market prices have increased much more steeply than farm gate prices. This, of course, reflects a number of factors, including transportation cost and multiple layers of handling and reselling from farm to final retail.
“But in the interest of reducing inefficiencies in this process, we will be arranging monthly farmers markets at locations to be specified in East Berbice, East Coast Demerara, Georgetown, East Bank Demerara, and West Coast Demerara in the first instance, with the possibility of extending to other locations depending on the initial experience. Mr Speaker, this will help our farmers find ready markets for their produce, and help consumers benefit from the price advantage of buying directly from the farmer,” Singh announced.
Singh further told the House that government is committed to addressing the rising cost of living and reiterated that it is linked to the issues beyond Guyana’s shore.
“Given the complexity of the factors driving price increases and the limited policy instruments available to mitigate these increases, we intend to engage in further consultations with the communities most affected both on the coast and in the hinterland on possible interventions to help ease the impact on the most vulnerable in our society. To this end, we have allocated a sum of $5 billion to meet the cost of the interventions to be implemented following these consultations,” he revealed.
Earlier this month, Stabroek News reported that many Guyanese are still complaining about the high cost of living.
In a January 2022 report, the Food and Agriculture Organisation (FAO) said that the Food Price Index reached a 10-year high in 2021, despite a small December decline. The FAO Food Price Index (FFPI) averaged 133.7 points in December 2021, down 1.2 points (0.9%) from November, but still up 25.1 points (23.1 %) from December 2020.
“Except for dairy, the values of all sub-indices encompassed by the FFPI registered monthly declines, with international prices of vegetable oils and sugar falling significantly month-on-month. For 2021 as a whole, the FFPI averaged 125.7 points, as much as 27.6 points (28.1 %) above the previous year with all sub-indices averaging sharply higher than in the previous year,” the FAO said in the report.
Additionally, the World Bank’s report on the Global Economic Prospects said that global consumer price inflation is envisioned to peak in the first half of 2022 and then decline gradually through 2023. It noted that price pressures from shortages of key inputs and the recent run-up in commodity prices are expected to ease as global growth moderates and commodity supplies expand.
It noted that global inflation has risen at a faster pace than anticipated in recent months, resulting in steady upward revisions to consensus inflation forecasts while adding that further rises in commodity prices; continued strong demand for goods amid more persistent supply constraints; and, in some economies, sustained currency depreciation could compound inflationary pressures.
Guyana on track to rake in around US$90 million for first oil lift this year
Oil prices rose to a more than seven-year peak at the weekend and recorded their sixth straight weekly gain with Brent climbing to $90.03 a barrel, after hitting $91.70 early Friday, the highest level since October 2014.
OilNOW understands preparations are currently underway for the Guyana government to export its first oil cargo for 2022 of around one million barrels. This means the South American country can earn around US$90 million dollars for this cargo, making it the highest received to date since production began two years ago.
Foreign investors eyeing roads, hospitals, housing in new South American oil province
A total of 42.7 million barrels of oil were produced in 2021 from the ExxonMobil-operated Stabroek Block compared with 27.2 million in 2020.
Since December 2019 when production began to the end of 2021, there were 69 lifts of oil exported from Guyana, of which nine were for the government.
As at the end of 2021, Guyana’s Natural Resources Fund’s (NRF) cumulative balance stood at US$607.6 million.
“It is estimated that deposits into the NRF for 2022 will total US$957.6 million, comprising some US$857.1 million earned from the government lifts of profit oil, and an additional US$100.5 million from royalties,” finance minister Dr. Ashni Singh said last week.
With the start-up of the Liza Phase 2 development this quarter, total production in Guyana will hit 340,000 barrels of oil per day this ye