Government welcomes lifting of Guyana’s temporary suspension from EITI

Government welcomes lifting of Guyana’s temporary suspension from EITI

Guyana’s temporary suspension from the Extractive Industries Transparency Initiative (EITI) has been lifted, and the Government has welcomed the move.

The country was suspended over its failure to submit its 4th report on the extractive industries in a timely manner.

In accordance with the EITI Standard, it was agreed that the suspension would be lifted if the EITI Board is satisfied that the outstanding EITI Report was published within six months of the deadline.

“The Secretariat can confirm that Guyana published its 2020 EITI Report on 30 June 2023. Thus, the condition for lifting the suspension has been met,” the EITI board said in lifting Guyana’s suspension.

Countries are assessed on their progress in meeting the requirements of the EITI Standard  through validation, which is the EITI quality assurance mechanism. However, with no report in hand, EITI would be unable to evaluate Guyana’s performance for the reporting period.

Now that the suspension has been reversed, the Guyana Government has welcomed the announcement and said that it remains confident that all systems will remain in place to ensure that Guyana is not placed in a similar position in the future.

EITI Members are required to disclose information along the extractive industry value chain – from how extraction rights are awarded, to how revenues make their way through Government, and most importantly, how those revenues benefit the public.

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