Daily Archive: Friday, July 26, 2019

Articles published on Friday, July 26, 2019

Manufacturers seek financing option to `notoriously high’ commercial bank interest rates

With no short-term end to the long-standing problem of limited access to affordable financing to support the development of the country’s construction and engineering sub-sector in sight, the Guyana Manufacturing & Services Association (GMSA) says it wants “a comprehensive overhaul” of the country’s financial system on the back of the emergence of an oil and gas economy that will bring with it a Development Bank that will help to overcome what it describes as “this key challenge” facing manufacturers.

Chicken meat in short supply

The Guyana Livestock Development Authority (GLDA) has confirmed that there is a shortage of chicken meat on the market and the shortage can be attributed to the reduction of hatching eggs imported as of June this year.

Dr. Lowell Porter

Small Business Bureau Client Expo to showcase notable agro processing ventures

Planning is underway for the staging by the Small Business Bureau (SBB) of a Client Expo at D’Urban Park later this year, as the state-run agency responsible for providing technical and financial support for local small and micro enterprises seeks to draw greater public attention to the underexploited potential in the small business sector and particularly in the agro-processing sub-sector.

Nazim Baluch

Guyana must guard against Local Content being double-edged sword: Georgetown Chamber Advisor

Even as optimism abounds that Local Content can serve as “a key tool to help developing countries to reap, in a sustainable manner, the economic and social benefits from their natural resources” there exists a deep-rooted concern that if not implemented and managed carefully and if not subjected to  public scrutiny, Local Content can offer “significant corruption opportunities,” according to an article published in the 2019 issue of the Georgetown Chamber of Commerce and Industry (GCCI) Souvenir Magazine.

PPP accuses Granger of rhetoric on CCJ rulings

The Opposition People’s Progressive Party  (PPP) has accused President David Granger of “mouthing political rhetoric” rather than acting to operationalize the ruling of the Caribbean Court of Justice (CCJ) on the December 21 no confidence vote and the appointment of a chairperson of the Guyana Elections Commission (GECOM).

David Marston

Jamaican banks’ lending policies, like Guyana’s, stuck in frustrating `comfort zone’

Just weeks after an article in the 2018 Annual Report of the Guyana Manufacturing & Services Association (GMSA) voiced a thinly veiled criticism of the lending policy of local commercial banks, describing their interest rates as “notoriously high,” a Jamaican-born global economic expert, David Marston, appears to be making a similar case to the effect that lenders and financiers in the sister CARICOM country are “too narrowly focused on the types of assets they are willing to back,” according to a report in the Jamaica Gleaner.

Dr Gobind Ganga

Caribbean banks and latter day bank robbers

We may have come a long way from the days of the old American ‘west’ when bank robberies were committed by bands of brigands ‘toting’ guns and barking orders to terrified tellers to ‘open the safe’ and making off with bags of money.

Caribbean children part of global overweight crisis – UNICEF Report

The prevalence of overweight school-age children, including children in the Caribbean, arising out of ill-advised food consumption habits and less than adequate exercise regimes could be one of the major health challenges looming on the global horizon according to UNICEF’s recently released report on The State of Food Security and Nutrition in the World.

CARIFESTA delegation still to be officially named

With the Caribbean Festival of Arts (CARIFESTA) less than a month away, officials attached to the Department of Culture, Youth and Sport are reluctant to identify the names of the “100 Guyanese” who were selected to represent the country at the event in Trinidad and Tobago.

Market prices

*Prices only represent the average Wholesale Farmgate and Retail Prices at the above mentioned markets and are NOT prices set by the Guyana MArketing Corporation or Ministry of Agriculture.

Altering Mr. Granger’s perverse and fixed mindset can be done only by active, not passive resistance

Dear Editor, I begin this letter with the following excerpt from the Constitution of the Co-operative Republic of Guyana: ‘The principal objective of the political system of the State is to establish an inclusionary democracy by providing increasing opportunities for the participation of citizens, and their organizations in the management of decision making processes of the State, with particular emphasis on those areas of decision-making that directly affect their well-being.’

Temporising

There can be no head of state since 1980 who has displayed more of a capacity for temporising than President David Granger.

The state contracts `set aside’ provision for small businesses

When former Minister of Business Dominic Gaskin announced late last year that the 20 per cent ‘set aside’ provision that would allow small businesses to secure access to various types of state contracts worth up to $30 million would come on stream from January this year, the announcement, it seemed at the time, had come more out of a sense of unbridled optimism than against the background of any real certainty that that deadline could actually be met.