Guyana’s fourth debt compensation written off under Petro Caribe deal with Venezuela

Finance Minister, Dr Ashni Singh
Finance Minister, Dr Ashni Singh
Finance Minister, Dr Ashni Singh

[] – Guyana’s fourth debt compensation arrangement has been written off by Venezuela for rice supplied to the neighbouring country under the Petro Caribe deal.

Finance Minister. Dr Ashni Singh at a press conference on Saturday [August 09] said thus far the deal has worked well for Guyana.

“I would say Petro Caribe has worked well for Guyana, we have been extremely prudent in how we manage that mechanism, as you know in Guyana the project has not only resulted in making available financing through our oil purchases, from Venezuela but very importantly has provided a market for rice produced in Guyana.”

When asked whether the administration is concerned about the Perto Caribe deal given the political situation in Venezuela, Dr. Singh said government remains hopeful that Venezuela recognises the significance of the deal and its benefits for both nations.

While acknowledging Venezuela as an important partner under the Petro Caribe deal, Dr. Singh said the administration continues to seek out other viable markets for its rice.

Petro Caribe is an oil alliance of many Caribbean states with Venezuela to purchase oil on conditions of preferential payment. The alliance was launched on June 29, 2005 in Puerto La Cruz, Venezuela.

[Extracted and modified from GINA]



  1. You may mean well
    But kindly go to Linden and preach this first.
    Then come back.
    If you check all general elections, the people of African always voted solid black.
    I am not talking about election rigging when the PNC which is an African dominated party ‘won’ majority after majority for about a generation.
    If you are a young person, you have work to do.
    Good luck.

  2. PPP made Nagamootoo.
    He bites the hand that feeds him.
    He betrayed his supporters by giving their votes to PNC Granger.

  3. Don’t worry ppl who fight for power will be taken out by God Immediately. ..that’s a promise by him either by a dreadful disease or either by their own negligence…let’s hope they don’t even get a chance to grab a piece of the crumbs of the pie

  4. would it not have been proper to address the issues without attaching their race, or is it that we are seeing the shift to race-baiting as we consider a likely general election. only yesterday Saturday on an AFC call-in programme on DTV-8, one contributor was reminding the host that he was an Indian and should not fight the PPP/C.
    IT time we sees ourselves as one people with race being of no importance.

  5. Ramjattan —- Nagamoottoo and those spitelful hateful indians dont want guyana to progress…they rather tear it down since they cant get to rule..its an indian disease to see these two men along with some other indians fighting for the land of guyana like its their parents who died and leave the entire guyana for them..those indians who fighting for it knows they cant get it so they would rather all guyanese suffer so out of spite and out of hate they want to hand it over to PNC…


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