The absence of budget oversight is among the reasons for the European Union (EU) withholding $5.8 billion (€25 million) in funds due to Guyana for sea defence and the sugar sector, the EU mission in Guyana said yesterday, drawing a sharp response from the government who accused it of “misinformation.”
“The latest partial payments related to these two programmes have been temporarily put on hold until all eligibility criteria, inter alia budget oversight, are satisfactorily address-ed,” the EU Delegation in Guyana said in a statement. One of the functions of the National Assembly is oversight of the budget. The Assembly was prorogued by President Donald Ramotar on November 10, 2014 and it remains suspended.
The EU’s statement followed recent charges by government officials that the EU was in a conspiracy with the United Kingdom to deny the funds to Guyana. On Monday, Finance Minister Dr Ashni Singh said that while the EU has approved €25 million in budgetary support, no funds have been received as yet. Singh said “no credible reasons” were given as to