Finance Minister Winston Jordan today explained that the US$18 Million that the Government received as a signing bonus from Exxon is still with the Bank of Guyana, which has invested the money in US treasury bills and Canadian bonds.
The move was made by the Bank of Guyana so that interest could be earned. Already, it has earned over US$35,000 in interest, according to documents provided to the media.
The Government last week announced that US$15 Million from the signing bonus will go towards the legal representation payments for the border Court case. The remaining US$3 Million is to be used for capacity building.
The Finance Minister said the signing bonus was never a secret since it has always been in a Bank of Guyana account and a number of senior Finance and Bank of Guyana officials were aware of that.
The Government only confirmed receiving the signing bonus from Exxon following media reports after a document was leaked from the Finance Ministry about the Bank of Guyana account being set up for the bonus.