Category: Press Releases

02 Jun
By: ict 0

Guyana signs four Loan Agreements with the Inter-American Development Bank

Ministry of Finance
Press Release

Guyana signs four Loan Agreements with  the Inter-American Development Bank

Guyana, on Tuesday February 21, 2017, signed four loan agreements with the Inter-American Development Bank to secure US$40 million in developmental resources to finance key initiatives within the Ministries of Legal Affairs, Agriculture, Business and Public Health.

The agreements were signed by Minister of Finance, Hon. Winston Jordan and President of the IDB, Luis Alberto Moreno at the Headquarters of the IDB in Washington, D.C.

These loan resources will support Government’s developmental agenda of promoting investment; improving connectivity throughout Guyana; diversifying the economy; and providing citizens with quality healthcare and social services.

The US$15m Sustainable Agricultural Development Program will aid in the country’s focus on diversifying the agricultural sector and improving its competitiveness and viability. The loan seeks to increase productivity of the agricultural sector while maintaining sustainable and climate resilient use of natural resources in Guyana. Specifically, this program is aimed at (a) producing high quality data for the agricultural sector; (b) increasing productivity, especially for medium and small farmers; and (c) increasing sanitary and phyto-sanitary (SPS) standards and access to meat processing facilities. It is expected that higher productivity will also contribute to reduced pressure on forest and fragile ecosystems, and at the same time, increase incomes for small and medium-sized farmers.

To augment our diversification and enhanced competitiveness thrust, the US$9m loan is programmed for the Ministry of Business to support economic diversification and exports through the enhancement of the National Quality Infrastructure (NQI) and through a National Export and Investment Promotion Strategy. Specifically, the project will seek to enhance the capacity of the NQI, improve facilities for the NQI and enhance the capability of GOINVEST for export and investment promotion. Importantly, this project will seek to enhance the ability of Guyana to connect with regional and global value chains through the promotion of exports and foreign direct investment, particularly agri-business.

The Ministry of Health will benefit from the US$8m loan, which will provide support to improve maternal and child health. Specifically, this project will contribute to the reduction of maternal, perinatal and neonatal deaths in Guyana. This project will not only seek to increase access to and use of reproductive, maternal and neonatal health services, but, importantly, it will seek to improve the quality of those services.

The Ministry of Legal Affairs will benefit from the US$8m loan, which will provide support for the Criminal Justice System. It is anticipated that through this project, there will be a significant reduction of high concentrations of prison population in Guyana. The intent is to reduce the use of pre-trial detention of persons accused of minor, non-violent offences by aggressively  promoting the use of alternative sentencing options such as probation, community service, restitution and fines. This intervention will also seek to ensure that our public institutions responsible for the administration of justice are effective, transparent and accountable.

The inking of these agreements is yet another demonstration of the robust relationship shared between the Government of the Cooperative Republic of Guyana and the IDB. The IDB, Guyana’s main development and multilateral partner, plays a critical role in helping Guyana to access a wide range of concessional resources from other donor countries and agencies. In addition to its own lending window, the IDB is currently involved in an innovative blending of grant and loans with the European Union in two projects, valued over US$96 million. Additionally, the Bank is working with Guyana as the Implementing Partner in some of our programmes under the Guyana- Norway GRIF Scheme.

The IDB Country Strategy with Guyana for the period 2017 – 2021 is currently under preparation, which will see further collaborations between Guyana and the Bank, as we seek to advance our nation along a ‘green’ trajectory.

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02 Jun
By: ict 0

World Bank Appoints New Country Director for the Caribbean

WASHINGTON, February 9, 2017—Tahseen Sayed Khan is the new Country Director for Caribbean countries. She will be responsible for maintaining a solid partnership with the countries to address their development and financial challenges.

“It is an honor for me to be working in the Caribbean,” said Tahseen Sayed Khan. I look forward to deepening our engagement with governments, development partners, civil society, and the private sector, to boost inclusive growth and reduce poverty in the Caribbean”.

Tahseen, a Pakistani national, was previously Country Manager for Albania in the Europe and Central Asia region. She joined the Bank in 1997 as a social sector specialist in South Asia and has since held various positions, including as Lead Education Specialist, Operations Adviser, and Country Manager for Nepal.

Tahseen Sayed Khan has a deep knowledge of country programs and a track record of strong delivery and innovation. She holds a Master’s degree in Law and Diplomacy specializing in Development Studies from the Tufts University Fletcher School of Law and Diplomacy, USA.

About the World Bank Group activities in the Caribbean:

The World Bank Group is providing a wide range of financing, knowledge and convening services in the region. Together with Caribbean partners, the World Bank is supporting growth-enhancing reforms, job creation, strengthening macroeconomic management, promoting opportunities for all, and building resilience to climate change in order to put the region back on a path for sustainable and inclusive growth.

The World Bank Group Portfolio has 31 active projects in 13 countries, with commitments of USD 927 million dollars (as of January 2017).   Learn more about our work   Contacts: In Washington: Christelle Chapoy, (202) 458 2656,; In Santo Domingo, Alejandra De La Paz, (809) 872 7343, In Kingston: Gerrard “Gerry” McDaniel, (876) 260-3329,

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02 Jun
By: ict 0

Ministers Jordan, Trotman and Broomes meet miners

Ministry of Finance
Press Release

Ministers engage mining association, allays fears of over taxation and imminent collapse of industry

The Minister of Finance Hon. Winston Jordan and the Minister of Natural Resources Hon. Raphael Trotman along with Minister within the Ministry of Natural Resources Hon. Simona Broomes, on Monday, met with representatives of the Guyana Women Miners Association (GWMA), the Guyana Gold and Diamond Miners Association (GGDMA) and, a number of small miners at the Ministry of Finance to discuss the 2017 budgetary measures regarding the mining sector and general issues affecting the miners.

The Ministers were accompanied by Newell Dennison of the Guyana Geology and Mines Commission (GGMC) and Commissioner General of the Guyana Revenue Authority, Godfrey Statia, among other senior officials.

The stakeholders of the industry were keen to discuss the tax measures announced in the recent Budget presentation, which they perceived as ‘over-taxation of the industry’ and their fears that those measures may have a deleterious effect on the industry.

Minister Jordan reiterated Government’s unwavering support for the sector and appreciation of the invaluable contribution of every miner to Guyana’s economy. In doing so, he clarified that the change in the With-holding Tax announced in Budget 2017 is not an additional tax as perceived by the miners, and that, existing concessions are available to all miners once they are tax compliant.

He reminded them too, that the only criterion used by the GRA for the issuance of concessions is compliance.

He added that the Ministries of Finance and Natural Resources and the Guyana Revenue Authority stood ready to provide any assistance that the miners may need to help them improve their knowledge of the taxation system and their accessibility to its benefits.

Further, the following measures were agreed on to improve the relationship among the entities and stakeholders involved:

The Guyana Revenue Authority (GRA) will shortly begin a series of awareness programmes which will specifically target the members of the industry.

The GGDMA and GWMA will collaborate to provide GRA with the Tax Payer Identification Number (TIN) of all miners under their purview. Miners who are found to be compliant will be able to access concessions, while those who are non- compliant will be allowed to enter into an arrangement with the GRA to have their outstanding tax matters settled.

Miners who do not have a TIN will be allowed to file their tax returns using a temporary TIN. A notice will be placed at entry of the GRA stating that “Miners submitting their tax returns will not be refused if they do not have a TIN.’
A help desk will be set up at the Ministry of Natural Resources.
A list of all the roads that are earmarked for repairs within the mining communities is to be made available to the miners who will then suggest others that can be included.
Small Miners were urged to band together so that they can benefit from concessions granted under Investment Development Agreements (IDAs).

The Ministers and the stakeholders pledged continuous consultations and committed to greater collaboration to resolving the challenges encountered by the sector.

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02 Jun
By: ict 0

Guyana to receive £ 53.2 million in grant resources from the UK

Ministry of Finance
Press Release

Guyana to receive £ 53.2 million in grant resources from the UK; waterfront development, water supply improvement and solid waste management among 6 major infrastructure programmes identified

Guyana is set to benefit from £ 53.2 million in grant resources from the United Kingdom under its newly established United Kingdom Caribbean Infrastructure Fund (UKCIF) as the Government continues to deliver on its Budget 2016 interventions.

Minister of Finance Hon. Winston Jordan along with Minister of Public Infrastructure Hon. David Patterson and Minister of Communities Hon. Ronald Bulkan last week met with British High Commissioner Greg Quinn and representatives of the Caribbean Development Bank (CDB) and the Department for International Fund (DFID) to discuss Guyana’s proposed infrastructural projects that are to be funded by UKCIF.

UKCIF is an ambitious investment undertaken by the United Kingdom which will provide grant funding to improve or create new infrastructures such as roads, bridges and ports to help drive economic growth and development in nine countries across the Caribbean region.

UK Prime Minister David Cameron announced the launch of the £300M Fund during his trip to Jamaica in 2015.

As a result, the Government of Guyana has identified and submitted project proposals for six (6) major infrastructure development programmes.

The identified interventions will see improved road networks, bridges, stellings and waterfronts, rehabilitation of airstrips, reliable access to potable water and reduced energy costs as well as tackle the environmental and health risks associated with the improper disposal of waste.

The CDB has been designated by the UK government to design, develop and implement the programme in collaboration with the government of Guyana. A team from the CDB is expected to visit Guyana shortly to discuss the start of project preparation activities with the relevant sectoral agencies.

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02 Jun
By: ict 0

Minister of Finance, Hon. Winston Jordan addressing participants of the Mini (IPDET)

Remarks by the Hon. Winston Jordan, Minister of Finance at the Monitoring & Evaluation Training Workshop
13 April, 2016, Arthur Chung Convention Centre

Members of the Head Table (Dr Rist, Dr Imas, DOB), Participants, Members of the Media (TBC)

Good morning and Welcome:

I am pleased to be delivering remarks at this Monitoring & Evaluation Training Workshop. As I recently highlighted, in the 2015 Budget Speech to the National Assembly, and, as previously stated by His Excellency President Granger, under this Government, emphasis will be placed on building a robust public sector that places a premium on transparency and reporting for greater accountability and good governance.

While monitoring and evaluation is a relatively new management tool to Guyana, it has been recognised across the globe, in both developed and developing countries, as one of the most essential elements in ensuring effective public financial management. As a country with limited financial resources, the need to ensure value for money, through targeted and effective programming, become paramount. It is the commitment of our Administration to ensure that M&E is institutionalised across the central government. Throughout my own career, spanning over 30 years in public finance and related areas, I have always been and will continue to support all tools that allow for more effective public finance management.

I understand that this is the 18th and 19th cohorts of public servants being trained in key concepts in M&E. I know that changing what is known as “the public service culture” will take time. However, those who know me know how impatient I am with getting results.  Therefore, I expect that at least in the pilot agencies – Health and Education – (which together account for nearly one-third of the 2016 Budget), as well as the other agencies that have already been exposed, I will be looking for sector-wide adoption of the tools acquired.  I intend to not only champion the utility of M&E under this Administration, but also to advance this line with my Cabinet colleagues and all Ministers. For you, and the almost 900 public servants before you, I urge that a special session be arranged and devoted to showcasing the changes you have been able to make in the institutions and programmes that you represent, as a result of exposure to this training.

This Administration has pledged greater accountability and transparency to the people of this country, and we intend to ensure that we deliver on these promises.  The population deserves no less. People must enjoy well delivered services for the taxes that they pay and it is our job as public servants to ensure we serve creditably and effectively. There may be missteps along the way, but it should never be in doubt that we intend to uphold the highest tenets of good governance and open government.

As Minister of Finance, in my 2015 Budget, I addressed issues of strengthened public administration, in which I emphasised the need for faster, smarter and more effective systems. To make this a reality, it will depend on you to change the way you work and deliver services to the public. For example, I have already tasked one of the key institutions under my remit, the Guyana Revenue Authority, to become less desk-bound in their approach to tax collection and to go out and collect the taxes from those noncompliant individuals and companies, in order to effectively discharge their responsibility as a Revenue Authority.

As a Government, we intend to be evidence-driven in our decision-making and policy development, strategic in our thinking and planning and, importantly, data-driven in our actions. In respect to the latter, we have taken immediate action already to ensure that the Bureau of Statistics can execute one of its mandates of making reliable data available to the population to drive informed policy development and decision-making. The words “I think” and “I feel” have no place in guiding policy implementation! We cannot continue to do things the same way and expect a different result; implementing programmes without data and evidence is simply shooting in the dark. In other words, wasting resources. We need to stop guessing and become analytical as officers responsible for delivering services to the public; we need to be informed about our target group and design policies and programmes to address the needs of the public in practical and effective ways.  When you provide advice to your seniors and supervisors and policy makers, it must be data-driven.

Monitoring and Evaluation must be viewed within the wider context of results-based management and within the national context, good governance and accountability will guide the outputs and outcomes of Budget Agencies. The FMAA of 2003 speaks of the Programme Performance Statements being submitted by the Budget Agencies. If you are part of Government, then please ensure that you read and internalise at least this section of the Act.  I am aware that many of you join the public service and never make an effort to become familiar with the FMAA. This has to change.

Going forward, the Ministry of Finance will be looking to expand its actions in the area of M&E and these will include:

  • Finalising and disseminating the national policies to guide the conduct of monitoring and evaluation across central government thereby ensuring standardisation in the conduct of M&E functions;
  • Developing a clear strategy for communicating and raising awareness of M&E throughout central government; with appropriate advocacy tools to support this activity with the aim of increasing the demand and utility of M&E;
  • Finalising the costing of the National Strategy and Action Plan and costing the Medium-Term training plan.
  • Galvanising the M&E Oversight and Steering Committees to ensure increased championship and strategic direction for the roll-out of the initiative to other central government agencies;
  • Adequately staffing the core M&E unit at MOF and the focal points at the sector ministries to ensure effective implementation and roll-out of the plan; and
  • Expanding training in M&E beyond the basic level to intermediate and advanced levels.

In short, firmly institutionalising the culture of M&E across all Government funded programmes and projects.

I am advised that Dr. Rist is an international authority on M&E. I have perused some of his writings in this area and you should do so as well. I can assure you that you are being trained by one of the best in the world. I am also particularly pleased to see that we have adopted a curriculum that is delivered at the Carleton University, in Ottawa, so that the content you receive, titled Mini-IPDET, is internationally recognised.

I want to thank Dr Rist and the IDB for partnering with us to support this capacity building effort. This training is a part of the larger goal to have a cadre of officers in central government that are competent in the field of M&E, so as to increase the national capacity for the conduct of monitoring and evaluation functions across our country. We have to have smarter, faster and more effective systems and your change of behaviour, using the tools you acquire here over the next 5 days, is one way of ensuring that this becomes a reality.

Ladies and gentlemen, I wish you all a very productive training session. Please note that the success will be judged by both the outputs – number of successful participants – and immediate outcomes – an improvement in the delivery of services to the public within the areas of your responsibility. Together let us be the change we wish to see!

I thank you.

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02 Jun
By: ict 0

GRA’s GRA uncovers racket at its Timehri operations

Georgetown, Tuesday, March 22, 2016: The Guyana Revenue Authority has uncovered a revenue leakage racket at its branch at the Cheddi Jagan International Airport Timehri involving several customs officers who are being investigated for their role in a scheme to defraud the Authority of millions of state revenues.

Investigations into the scheme are ongoing since the matter appears to date back several years and is linked to a select group of importers who appeared to have been allowed to clear goods without paying the correct or prescribed amount of duties.

This discovery is part of Management’s efforts to break the back of corruption that has plagued Guyana and to ensure that the prescribed government revenues are collected.  As a consequence, management is taking a serious view of the matter and intends to pursue serious disciplinary action against those involved in the racket.  When asked, the Chairman of the GRA said the matter should be dealt with to the fullest extent of the law.

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