“Drugs economy”: Jordan fails to provide evidence to substantiate remarks

Finance Minister Winston Jordan

While maintaining that the economy today is proof that it was, in fact, being run by drug proceeds, Finance Minister Winston Jordan failed to provide the media with the evidence to substantiate his statement.

Since his Government came to power in 2015, the minister has made outlandish accusations, without proof, that the People’s Progressive Party (PPP) Administration before him was able to reflect growth in the economy because it proliferated the trade of drugs.

The Minister’s statement was rejected by various individuals and groups, as many believe it is just a cover up for the poor performance of the economy.

The Private Sector Commission (PSC) has even written the Minister asking him to provide the evidence, but he has since failed to do so.

Today, during a press conference at Parliament Jordan was faced with the same question by the media, but still didn’t have the evidence.

“I was amazed to be quite honest when I got a letter from the gentleman asking me to provide proof to the private sector, I was amazed at such a letter so I am doing budgets and all kinds of different things and I really don’t have time to waste essentially” Jordon said.

In an interview in 2016, the Finance Minister attributed the reduction in consumer spending to a decrease in illegal activities, including narco-trafficking, which he said had created a parallel economy.

Most recently in a response to an editorial done by one of the leading dailies that waded into Minister Jordan’s handling of the financial sector, Jordan referred to the same issue in defense of Guyana’s poor economic performance.

“I will tell you this much where the economy is at today is proof positive that the it was being run by drugs, by a significant input from drugs” Jordan disclosed.

People’s Progressive Party (PPP) General Secretary Dr Bharrat Jagdeo had said at one of his recent press conferences that he is of the firm view that the Minister would not be able to give such an explanation because he has no such evidence.

He said the buoyancy of the economy had to do with several things, a growing set of economic activities, a growing tax base, larger deposits and more people borrowing and investing.


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