Category: Reports

14 Aug
By: Tanika Jones 0

Mid-Year Report 2019

This report is prepared pursuant to Section 67 of the Fiscal Management and Accountability Act (FMAA) 2003 that prescribes that a mid-year report shall be produced in a manner and format prescribed as follows: “A mid-year report shall include – (a) an update on the current macroeconomic and fiscal situation, a revised economic outlook for the remainder of the fiscal year, and a statement of the projected impact that these trends are likely to have on the annual budget for the current fiscal year; (b) a comparison report on the out-turned current and capital expenditures and revenues with the estimates originally approved by the National Assembly with explanations of any significant variances; and (c) a list of major fiscal risks for the remainder of the fiscal year, together with likely policy responses that the Government proposes to take to meet the expected circumstances.”

Mid-Year Report 2019
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18 Jul
By: Tanika Jones 1

Guyana First Voluntary National Review High-level

The undertaking of the First Voluntary National Review has been, as expected, a technical, data-intensive process. Guyana has been and remains committed to evidence-based reporting and results-oriented planning. The VNR process aligns with these commitments and further reinforces the importance of strong data systems and institutions. Notwithstanding the late confirmation of Guyana’s participation at the High Level
Political Forum 2019, the country undertook what should have been a nine to twelve month review process in just under six months. A key consideration in developing the VNR is the desire to comprehensively tell Guyana’s story, supported by as much as data as possible.

The review process began with the development of a data collection tool by the Ministry of Finance which was issued in January 2019, to all Budget Agencies. A high-level VNR workshop was also hosted, in March 2019, which sought to improve awareness, understanding and ownership of the SDG Targets, facilitated technical group discussions on indicators and, ultimately, attempted to accelerate the data collection process required to prepare the VNR. Over the subsequent months, the varying capacities across agencies demanded the Ministry of Finance work closely with the Budget Agencies in one-on-one sessions to assist in various capacities including:

1) understanding some of the SDG Targets

2) self-assessing the relevance of existing data and indicators to the SDG Targets

3) developing new indicators based on existing data sets and

4) advising on areas of future focus for planning.

The VNR process, including stakeholder engagement, was also supported by the Ministry of Foreign Affairs and the Ministry of the Presidency.

First Voluntary National Review High-level

The undertaking of the First Voluntary National Review has been, as expected, a technical, data-intensive process. Guyana has been and remains committed to evidence-based reporting and results-oriented planning. The VNR process aligns with these commitments and further reinforces the importance of strong data systems and institutions. Notwithstanding the late confirmation of Guyana’s participation at the High Level
Political Forum 2019, the country undertook what should have been a nine to twelve month review process in just under six months. A key consideration in developing the VNR is the desire to comprehensively tell Guyana’s story, supported by as much as data as possible.

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03 May
By: Tanika Jones 1

The Valuation Division

Who We Are?

The Valuation Division was created in 1959 by an Act of Parliament, “to make provision for the Valuation of Property for Rating Purposes and for matters connected therewith,” Chapter28:04.

It is a department of the Ministry of Finance that works primarily with the Ministry of Communities, specifically Local Government and quasi-governmental departments.

What Do We Do?

Carry out equitable Valuation for Rating purposes throughout Guyana.

Provide Rental & Capital Valuations for other Government and quasi-Government Departments.

Ensure Rating Valuations are conducted in accordance with the Regulations framework. This includes carrying out five yearly assessments and maintaining the Valuation List.

Notify Rate payers of new Valuations through the issuance of Proposals.

Read This Publication To Learn More

 

 

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12 Apr
12 Apr
By: Tanika Jones 0

MONEY TRANSFER AGENCIES TYPOLOGY 2016-2018

Globalization of financial services and the financial sector facilitated by rapidly advancing technology has resulted in the movement of funds across the world via Money Transfer Agencies (MTAs) to be quite seamless. Money Transfer Agencies, in this context, refer to entities which carry on the business of transferring sums of money electronically between persons locally and internationally. The speed with which money can be transferred, at relatively low cost, along with the MTAs’ accessibility and worldwide reach have made them a viable channel through which funds can be laundered. Our observation of a sample of MTA data over the period 2016-2018 provides indications that MTAs are being used to create layers of transactions, facilitating the distancing of illicit funds from its source through a series of complex transfers. Sending funds through MTAs, while acting in one’s own capacity or as a proxy, affords a criminal an opportunity to place illegitimately acquired money into the financial system; sometimes by direct credit of MTA transactions to accounts of the final recipient.

MTA Typology 2016 – 2018
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09 Apr
By: Tanika Jones 0

Third Issue of the Public Debt Report, Quarterly Statistics for December 2018

The Debt Management Division (DMD)has released its Third Issue of the Public Debt Report, Quarterly Statistics for December 2018. The Report provides information on both the external and domestic public debt. In particular, the external debt coverage includes Borrowings from: Central Government, Bank of Guyana, Public Corporations (State-Owned Enterprises), Government Guaranteed and Non-Guaranteed Public Corporations, whilst the domestic debt coverage includes: Securities (Treasury Bills, Debentures and Bonds) and domestic Loans.

Third Issue of the Public Debt Report, Quarterly Statistics for December 2018
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