WPA lambastes IDB for signing new loan agreement with Government

WPA lambastes IDB for signing new loan agreement with Government

The Working People’ Alliance has fired off at the Inter American Bank for signing another loan agreement with the government of Guyana during the prorogation of parliament, the absence of parliamentary oversight and just months before national elections.

The IDB earlier this month signed a new US$32 million loan package with the Guyana government to assist in the security and other sectors.

In a statement issued on Friday, the WPA which is a part of the opposition coalition group A Partnership for National Unity, said it now has to question whether the IDB is interested in transparency and accountability following the signing of the latest agreement.

“The WPA must now question the IDB’s commitment to transparency, accountability, ethics and the rule of law which the IDB so self-righteously claims for itself. It hopes that the Bank will now accept this offer of self-redemption by openly declaring if any of the above-mentioned loans were disbursed, and if either was, or both of were, its timing and destination. The Bank must be aware that constitutionally such funds must be placed in the Consolidated Fund of Guyana and can only be taken out by way of an Appropriation Act passed by the Parliament”, the WPA statement said.

According to the party, the IDB’s “collusion with the Government at this stage” would leave the party, in consultation with the members of the joint opposition, no choice but to re-examine the validity of the loans, and by extension its repayment.

“We are appalled that the IDB could assume arrogantly that it could ignore the legitimate calls by the WPA and indeed the entire parliamentary Opposition to show some restraint in its dealings with the PPP/C Government on the eve of general elections.”

The opposition party said the IDB has refused the Guyanese public and their parliamentary representative the courtesy of a response to its previous concerns on the issue.

The party raised similar concerns about the issue in the past and says it now wants to remind the IDB that in excess of two weeks has elapsed since the required date of the dissolution of Parliament and views with suspicion, the approval of a second loan.

“We wish to place on record our strongest condemnation over the egregious actions of the IDB in the face of repeated calls from the Opposition, Guyana Human Rights Association, GHRA, and other Guyanese stakeholders to tread carefully on making loans to the Guyana Government on the eve of national elections” the WPA noted.

Filed: 26th February, 2015

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