Opposition Leader Bharrat Jagdeo believes there is a clear economic collapse taking place in Guyana under the APNU+AFC coalition government and on Tuesday he trashed excuses coming from within the administration.
Mr. Jagdeo said the government is trying to accuse the PPP of being involved in systematic sabotaging of the economy and that is absolutely false.
“This is also false. The PPP can’t be blamed for the shortage in foreign currency. Did we buy up all and have it here at Freedom House?”
Jagdeo said there is a clear collapse of the economy. He believes that recent remarks by the Inter-American Development Bank and the International Monetary Fund also supports this contention.
“The government’s excuses are not sustainable. It’s pure nonsense about sabotage and drug money,” he added.
Jagdeo blamed new tax measures that were put in place by the government for increased hardships in the economy.
He said too that sections of the private media were supporting the government in spreading its propaganda concerning Guyana’s economy.
Jagdeo also called on Minister of Finance Winston Jordan to tell Guyanese the truth about the country’s economic standing.
During the People’s Progressive Party weekly press conference at Freedom House, Mr. Jagdeo also denied claims that the proceeds of the illicit drug trade had supported the economy under the PPP Administration.
“That excuse wouldn’t hold water,” he told reporters, as he made it clear that the current government is liable for its own poor management of the economy.
The PPP lost the 2015 general elections after 23 years in government. The party had always been accused of encouraging the growth of illegal and underground businesses, which fueled growth in the larger economy.
But Mr. Jagdeo who served as President for 12 years, said there is no truth to assertions that drug money was running the economy under the his rule. He said he personally believes that the current government is supporting more illegality.
“There is a big rip off in the smuggling of fuel,” he said. Mr. Jagdeo also said there is no evidence that the coalition government is doing anything to block drug trafficking.
He said too that Minister Jordan must offer more clarity on what he meant when he stated the government’s commitment to the maintenance of prudent fiscal policies which would protect Guyana’s economy against external shocks.