Guyana has been suspended from Extractive Industries Transparency Initiative (EITI) for failing to submit its 4^th report on the extractive industry and transparency in Guyana, News Source has confirmed.

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.

However, though it pledged to strengthen transparency and accountability within the extractive industry, Guyana fell short in meeting the deadline for the submission of its 4^th GYEITI Report.

That report was due on December 31, 2022, and according to the global transparency body, Guyana was not eligible for an extension of the reporting deadline.

“Guyana is not eligible for an extension of the reporting deadline for fiscal year 1 January 2020-31 December 2020. The deadline for the publication of the outstanding report remains 31 December 2022,” EITI’s Board said as it handed down its decision on February  1, 2023.

Countries  are assessed on their progress in meeting the requirements  of the EITI  Standard  through Validation – the EITI’s quality assurance mechanism – however, with no report in hand, EITI is unable to evaluate Guyana’s performance.

Though Guyana has been suspended for more than a month, the Government has not made a public pronouncement on the issue. Attempts by News Source to make contact with Minister of Natural Resources, Vickram Bharrat proved futile on Wednesday with calls to his number going unanswered.

Last November, Leader of the Alliance For Change (AFC), Khemraj Ramjattan expressed fear that Guyana could be expelled from EITI as a result of a number of violations, and as such. He has called for the current head of the Guyana Extractive Industries Transparency Initiative (GYEITI) Secretariat, Dr Prem Misir to be replaced.

Ramjattan has also warned that the issue could impct on foreign investment here.

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