President of the Inter-American Development Bank (IDB), Luis Alberto Moreno is now further aware of the matters related to the impact of the Venezuela territorial claim on Guyana’s economy. President David Granger, during a meeting with Moreno, at the Guyana Permanent Mission to the UN office in New York, formally briefed him on the situation, a release from the Ministry of the Presidency said yesterday.
The release said that the IDB President was told that while the overall economy is being affected, the brunt of it is being felt by the five regions of the Essequibo.
“The claims have had a very negative effect over the years. It became worse in 2013 when that country expelled a vessel from our waters, and became much worse in May this year,” the President told reporters following the meeting. “The Venezuela claims have scared away investors and we made the President of the bank aware of the impact that the aggression has had on our economic development of that huge area,” President Granger stated.
While the President declined to give details of the IDB’s position on the territorial controversy, he said that they are very interested in a peaceful resolution to the matter.