We’re looking forward to your comments and feedback on the Sovereign Wealth Fund. 

One Comment

  • Randolph Williams

    I commend the MoF for its Green Paper on SWF. However, I feel some sections need reworking. First the Presource curse refers to the under performance of the economy in the run up to first oil, but we have seen growth (4.5 % for first half of 2018) as well as slower growth than the target growth rate in the budget. You have upped for a technically derived fiscal rule where the process is political, therefore what guarantee do we have that the rule will not be adhere to by successive governments. Third you have omitted poverty as a factor in the determination of the annual withdrawal rule, but you have economic growth. The implied assumption is that “trickle down’ effect of growth is sufficient to narrow the poverty gap. I think this assumption will not hold. Closing the poverty gap requires direct policy action. Four, why would the Ministry want to control both the spending and the investment side of the SWF. You will have your hand full dealing with the spending side. in fact the strategic advantage of Guyana is from formulation to execution of the PSIP. I think the Ministry needs to reconsider its role in the investment side of the SWF. Fifth, you have to amend the SWF to cater for other resource sector especially mining. there is no definition of “excess revenues” in the paper. Sixth, You will need a lot of forecasting skills and investment management skills (if you keep your role on investment), but I have seen no scholarship in these two areas

    • 3:39 pm - September 18, 2018

    • Reply

Leave a Reply