Guyana’s external debt at US$1.2B; Finance Minister apologizes for blunder

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By Jomo Paul

Minister of Finance, Winston Jordan.
Minister of Finance, Winston Jordan.

[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.”

14 COMMENTS

  1. come on the man lied be fair if it was the pass adminisration you the afc would call for him to go home its only fear after such a big lie to fool the nation that you come clean and send him home like berry in the other set. send him packing he lied.

  2. Winston try A thing to see if he can sniff away the balance but E get ketch,too early to dip your hand in the bucket Winston give the people the 20% raise you promise and see whats left because it doesn`t look like you have a long time in that position.

  3. the ppp like to talk about resign,but they do not know who should resign when it comes to the ppp as far as i am concerned they are using the pnc/r methods to criticize.Instead of fooling the people,they should try to help people,after 23yrs.of mis-management.Jagdeo will go to jail,no seat in the National Assembly will save him

  4. Oh skytes ! More blunders to roll in…. tomorrow gun mek 60 days fuh de brand new spankling regime in power… we get lil clean up in GT… naturally people get fired… let us accept dat… a hidden koker found… Hamilton Green get spounce again ….he get award… dem agree wid the Hydro project… dem agree wid de airport..dem agree with the hospital…but shame mek dem mek ah twist… on going crime fight same wid previous guvament… infact it get suh wuss dat people scared fuh travel… de ABC callin de shots… soon we gun officialize gay marriage… de Marriott gun stay rite deh… LOL….

  5. Minister Jordan – sorry to say that in your position such a blunder is inexcusable. In your position everything MUST be vetted for accuracy before any statement or information is released. One will only make such a blunder when they are incompetent. Mr. Jordan you are too busy being distracted trying to find ways of putting down the PPP government and as a result you have lost your objectivity to tell the truth to the Guyanese people. Mr. Granger please spare yourself the embarrassment and ask this Minister to gracefully step down.

  6. It is time the APNU/AFC Government give up power, the PPP will make a mess of you guys, they have already started it, with the help of Mad-ru-dee. Sorry but APNU/AFC you guys cannot rock this country, Jagdeo is the man for this country, sorry his country

  7. LOL, this is what happen when you prioritize the wrong agenda go on and do the people business that you were elected to do and when you have the time see for all the shortcoming of the previous government there are not going anyway and the agenda should not be focus on them

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