IDB President Luis Alberto Moreno on Thursday met with President Donald Ramotar on the side-lines of the 68th United Nations General Assembly and recommitted to furthering cooperation on addressing the challenges facing the country on energy.
According to a press release from the IDB, both Ramotar and Moreno instructed their respective technical teams to jointly explore alternative ways to upgrade and diversify Guyana’s energy mix.
“They discussed the various development challenges facing Guyana as well as the IDB’s long-term commitment to support Guyana’s national development strategy,” the release said.
The release said that Moreno congratulated President Ramotar on the effective management of fiscal policy by the Government of Guyana’s economic team following massive debt forgiveness in 2006. “As a result, Guyana has consistently maintained fiscal stability and sustained economic growth throughout the international economic downturn,” the release said.
“During the meeting with President Ramotar, President Moreno emphasized that the IDB is fully committed to playing a leading role in helping Guyana to modernize its energy matrix and to advance its innovative Low Carbon Development Strategy (LCDS) in a manner that maintains debt sustainability while providing the desired benefits to Guyana’s economy and its people,” the release said.
It said that both leaders agreed on the pressing need to diversify Guyana’s energy matrix in a way that protects its environment,