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Guyana PM tells IMF all is well


Guyana PM tells IMF all is well


GEORGETOWN – Prime Minister Moses Nagamootoo told a high-level mission from the International Monetary Fund (IMF) that all is well in Guyana on the governance front.

Nagamootoo received the mission which is headed by Brazilian-born Executive Director, Alexandre Tombini, who represents Guyana and ten other countries at the organisation on Friday.

The IMF Mission consulted the Prime Minister on governance related issues, including the work of the Integrity Commission, the National Assembly and the judiciary as well on the state of the Rule of Law in Guyana.

Nagamootoo explained that the Coalition Government has guaranteed the financial autonomy of the legislature and the judiciary, stating that his government respects and observes the doctrine of the separation of powers.

During the consultation which lasted more than one hour, views were exchanged on a wide range of governance issues including the institutional framework to ensure integrity in public spending from oil revenues.

In this regard, the Prime Minister gave the mission a synopsis of the Guyana National Resources Fund which contains strong fiscal rules for accessing oil revenues, and the vision for spending on infrastructure and on capacity building that is outlined in the Guyana Green State Development Strategy.

The Prime Minister disclosed that in the area of good governance, Guyana has done much in recent years, which has won it accolades from transparency and human rights institutions. He noted that Guyana stands tall in its efforts at transparent procurement and integrity in public life. In the latter he explained the progress made in reconstituting the Integrity Commission, and legislating for a new Code of Conduct for public officials.

The IMF Mission acknowledged the improvements in the work of the Integrity Commission.

Although Guyana is not within any IMF programme, the multilateral financial body re-committed to promoting the non-oil sectors to meet future demands in an oil economy for food security, and to boosting skills training to prepare the labour force for the new oil economy. (DPI)