Georgetown : Head of the Presidential Secretariat, Dr. Roger Luncheon pointed out at his weekly media briefing that the decision made by the investor Muri Brasil Ventures Inc., to pull out of its exploratory venture in Guyana came as a result of anti-development behaviour by the Opposition Political Parties, and sections of the media. He pointed out that similar behaviour by these forces resulted in the investors’ loss of confidence in the Amaila Falls Hydro Power project.
Dr Luncheon claimed that the same anti-development attitude was also seen with regards to the Anti- Money Laundering and Countering the Financing of Terrorism (Amendment) Bill, which led to the Caribbean Financial Action Task force (CFATF) November recommendations to blacklist Guyana, Dr Luncheon expressed Government’s concern that the Parliamentary Opposition is creating and sustaining impediments to the government’s plan for economic development.
“Investor confidence in Guyana as a destination for their financing is indeed under attack,” he said.
Dr. Luncheon noted the impact the blacklisting is having on the local businesses, more so the banking system and money transfer institutions. “In our most recent meeting, the Office of the President with the leaders of the Bankers Association in Guyana, they have brought to our attention specific incidents of the problems that they have and are encountering as a consequence of the blacklisting and specifically dealing with transfer of monies and engagements with corresponding banks in foreign jurisdictions,” he said.
The difficulties range from enormous increases in procedural aspects to the more difficult situation of the abandonment of the agreement, and the working relationship between the corresponding banks,” he said.
Dr Luncheon pointed out that the Opposition Party stands in isolation with respect to the AMLCFT Bill. “There has been on board a single stakeholder that has been identified in opposition to the bill…it (the bill) has enjoyed total support of all stakeholders, save and except the opposition,” Dr. Luncheon pointed out.
“The ideal situation for Guyana is for the opposition to stop playing politics with economic development,” he said.
Further, Dr Luncheon said when there is a common understanding about economic development and the policies and the practices that it should not be subordinated to the cut and thrust of this political intrigue that prevail “… we have to concede that the economic development of Guyana around which we will all tie bundle, the economic development of Guyana is paramount, and we are not going to make political issues about aspects our economic development, we would subscribe to development of the economy of Guyana,” he said.
Muri Brasil Ventures Inc., on January 4 announced that it had made a decision to no longer pursue its geographical and geophysical survey in Guyana. A statement released by the company said that this was due to the misinformation, prejudice and hostility to this proposed survey by persons and agencies which are fostering an adverse investment climate in Guyana.
This follows the pull out of the Amaila project’s developer, Sithe Global in August last, after the opposition voted against the bill to amend the Hydro Electric Act and a motion to raise the debt ceiling that would create the financial architecture to implement the Amaila Falls Hydro Project.
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