Minister of Natural Re-sources and the Environment Robert Persaud yesterday warned that the stalled passing of amendments to anti-money laundering laws will affect the mining sector, even as it is producing more gold.
“The reality is that miners themselves would have already indicated that they are fearful that should Guyana be blacklisted and if we don’t have the legislation passed by the National Assembly which would give us close to 95% compliance…it would affect transactions; transactions between local banks and international banks,” the minister said at a press conference yesterday.
Following the failure of the National Assembly to pass the amendments after the parties could not reach consensus in May, Guyana was required to submit documents detailing progress made on implementing the Anti-Money Laundering Countering the Financing of Terrorism (AML/CFT) Amendment Bill by August 26. Government made