By Jomo Paul
[www.inewsgguyana.com] – After scathing criticism from the People’s Progressive Party (PPP) over an incorrect figure on Guyana’s external debt, Finance Minister Winston Jordan has apologized for his blunder and has stated the correct figure.
On June 26, Jordan told the National Assembly that Guyana’s external debt figure stood at US1.6B.This led to former Minister of Finance, Dr Ashni Singh challenging the figure.
Dr Singh had stated “Firstly, Appendix VI to the national Budget Speech for 2014 reported that Guyana’s external debt stock stood at US$1.247 billion at the end of December 2013, and provided a detailed disaggregation by creditor. Secondly, Appendix F1 to the Mid-Year Report for 2014 reported that the external debt stock stood at US$1.227 billion at the end of June 2014, and provided a similar level of disaggregation. Thirdly, Table 7-III of the Statistical Annexe to the Bank of Guyana Annual Report for 2014 reported that Guyana’s stock of external public debt amounted to US$1.217 billion at the end of December 2014, disaggregated by creditor type.”
Jordan in the National Assembly on July 9 stated that he was informed of the correct figure.
“I have had the opportunity to re-check the numbers and now inform this Honourable House that it is the Public debt comprising of external debt and domestic debt which stands at US$1.6B, not the external debt,” Jordan stated.
He added “I apologize…for the earlier mistake and the erroneous impression created.”