Debt Management and public agencies’ reports – instruments of transparency and accountability

DPI, Guyana, Thursday, November 16, 2017

The Public Debt Annual Report for 2016, presented by Finance Minister, Winston Jordan was approved by Cabinet and will be laid in the National Assembly, in keeping with the internationally accepted best practices for public debt management obtained from the International Monetary Fund and World Bank.

This announcement was made today by State Minister, Joseph Harmon, who noted that “Accordingly [the report] stood as an important instrument of transparency and accountability before the citizens of Guyana.”

Winston Jordan, Minister of Finance.

Guyana, in 2016, graduated to an upper middle-income country, which the State Minister said, is indicative of economic development and progress in recent years.

This year’s report also indicated that the Government had sought to widen the range of international partners from which Guyana can access concessional and near concessional resources.  These international partners include the Islamic Development Bank and the OPEC Fund for International Development.

The Public Debt Annual Report for 2015, tabled in the National Assembly on November 4, 2016, was the first of its kind in Guyana.

The Annual report and statements of Accounts of the Guyana Revenue Authority 2011 was also approved and will be presented in the National Assembly as required by Section 28 of the Guyana Revenue Authority Act no. 13 of 1996.

Meanwhile, Minister of Agriculture, Noel Holder presented annual reports for 11 agencies which he has ministerial oversight, including the National Drainage and Irrigation Authority (NDIA), the Guyana Rice Development Board (GRDB), the Guyana School of Agriculture (GSA) and the Guyana Sugar Corporation (GuySuCo). These reports will also be laid in the House.

Minister Harmon further noted that “the continued preparation and submission of annual reports for agencies in a timely manner is in accordance with our Administration’s commitment of transparency and accountability in public agencies to the Guyanese people.”

 

By: Stacy Carmichael

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