[www.inewsguyana.com] – Guyana has been granted some flexibility by the Financial Action Task Force (FATF) to comply with international financial obligations, but the chances of crossing the hurdle of securing the passage of the Anti-Money Laundering Bill remain as dismal today as it was last November.
Attorney General and Minister of Legal Affairs, Anil Nandlall has expressed zero optimism that the Opposition will lend its support to the Government to pass the Bill which is currently languishing at a select committee.
“They have done everything in their power to prevent us from passing this Bill… the APNU said that even if we were to arrive to a consensual position in the committee, then the Bill still will not receive their support when it reaches the floor of the National Assembly because their position is that the Government must accede to a series of requests that they have made,” he said.
He explained that even if the Government decides to take the risk of passing the Opposition’s version of the Bill, which in his opinion will still make the country non-compliant, from all indications, the Opposition is unprepared to support such a move.
There is every likelihood that Guyana will be placed on that infamous blacklist if the Bill is not passed before FATF’s next meeting in October 2015.
“I think that we have exhausted all the goodwill that was extended to us, but we will continue to work with all the stakeholders, the private sector and significantly the international community… so that we make our country ready and to avoid blacklisting. That is all we can do as a Government,” Minister Nandlall submitted.
If blacklisted, then automatically Guyana will become a destination that will pose great risks to countries and foreign businesses as such, it will have limited access to international trade and international financing.
“The sum total to all of this is that life will become miserable for the ordinary Guyanese and the cost of living will go up. Guyana does not exist in isolation; we are part of a global community. The price of goods and services and the availability of goods and services depend upon on our standing in the international community. The lower the standing, the higher the likelihood that we will have to pay more for goods and services,” the AG said.
For this reason, the Caribbean Development Bank (CDB), the Caribbean Bankers Association and many other international and regional bodies have called on Guyana to pass the outstanding Bill and become compliant in the interest of trade in the region.
“Many are calling for the Bill to be passed; the only persons who don’t seem interested in passing the Bill are the 33 members who sit on the other side of the Parliament,” the Legal Affairs Minister said.
[Extracted and modified from GINA]
Spot on! The Jagdeo regime was told by the CFATF in 2010 to amend the 2009 AML law to bring it up yo speed with what the FATF wanted. But despite having a parliamentary majority for 12 months since being told, Jagdeo did nothing.
The CATF also expressed disappointment that the FIU did not make a single money laundering bust since being set up. Jagdeo even lamented in 2011 that the FIU did not make one bust in 2010.
Well, 2014 is almost over and the FIU is yet to make a money laundering bust. So all the regime has been doing is talking, but doing nothing while blaming the opposition, like as though passing the bill will change anything.
bobby – that’s exactly what’s wrong! I’ve had some personal experiences in the sixties that would make you have a heart attack, I’ve stared death in the face more than once simply because of how I look, up to now there are some places I would never visit! but I look beyond that! It’s time to stop this ‘blame’ game and personalized attacks on individuals and look at the big picture. I’ve had people who aren’t Guyanese read some of these blogs in our online newspapers and am ashamed to repeat some of the comments they make! Too many of us have left political discourse behind and indulge in petty personal attacks!
Personally I’m critical of the both PNC and PPP because in my opinion they have both failed the Guyanese people – but what did you expect? They were birthed from the same ‘mother’. I’ve said time and time again that any political party which uses race vengeance and virtual achievements as its platforms to win votes doesn’t have the nation’s interest on their agenda! If we are only left with poor choices then we as a nation can use the ballot box to force the politicians to put up or shut up and get out by limiting their ability to do things without being transparent and cooperating.
dubyamorse2, let me tell you,iam not an indoctrinated one: I lived through the 50’s and the 60’s and can give you factual accounts of what took place in those times,personal experiences included.
The PNCAPNUAFC ruled strictly as opposition. The Government propose and they oppose! Simple, just oppose everything bloody thing good or bad.
These people are practising bush politics and development ond the wellness of its people are last on their agenda.
They want to be in power at all cost to screw it up all over again.
Were you ‘aware’ of politicks in the sixties and pre 1992 or are you one of the ‘indoctrinated’ ones?
The PPP had all of the 20+ years when they had a parliamentary majority to address this but never did! They never did because it suited their agenda not to and probably still does by sheltering preferred persons!
I don’t think they even now are really interested in complying with anything and are intent on riding this proverbial scapegoat opposition noncooperation horse in conjunction with some other ones for all they are worth as an excuse and an electioneering ploy to regain their lost support!
It will be interesting to see what happens at the deadline next year if they are still a minority government and haven’t worked out what and how to do it!
like is said before…all guyanese must sink or swim together…
guyanese knew who suffered the most prior to 92…
some supporters of pnc have absolute no shame but to want pnc back in power.
they knew how pnc buckled them to their knees where they had absolute nothing.
it was pnc supporters who were seen eating from bourda garbage heap.
they have no shame knowing hammo greed collecting money for them and stinking up the place..they dont pray him away like how they pray away others they dont like.
2 pnc members were caught on tape talking and laughing about a massacre that was going on pluse discussing planting drugs on a woman when she show up at the airport and pnc supporters are happy that these two men are in parliament representing them..i say no more..
IT IS MADNESS TO CONTINUE DOING THE SAME THING AND EXPECT A DIFFERENT RESULT. WE SHOULD STOP CALLING ON THE OPPOSITION TO PASS THE BILL. THEY WOULD NOT BECAUSE THEY SEE THE NON- PASSAGE OF THE BILL AS THEIR GREATEST WEAPON TO BRING GUYANA BACK TO THE PRE- 1992 STATE WHERE THE PPP GOVT. WILL BE SEEN AS DOING WORSE THAN THE PNC. EVEN IF THE PPP ATTEMPT TO PASS THEIR BILL AND IT SEEMS LIKELY THAT IT WILL BE ACCEPTED , THEY WILL INVENT AN EXCUSE NOT TO SUPPORT THEIR OWN BILL. STUDY BURNHAM’S STRATEGY IN RELATION TO THE LABOUR RELATIONS BILL AND INDEPENDENCE IN THE 1960’S. IT IS THE SAME PNC REGARDLESS OF THE CHANGE OF PARTY NAME AND CHANGE OF LEADERS. THE GOVT SHOULD USE THE NEXT FEW MONTHS TO PREPARE FOR AN ELECTION AND LET VOTERS DECIDE IF THEY WANT TO GO BACK TO PRE-1992 DAYS.