Full recovery of overpayments, strong govt oversight – AG Report

– Over 1 billion recovered

The government has successfully recovered overpayments on contracts across several ministries, departments and regional administrations.

According to the country’s 2024 Audit Report, a total of 829 contracts totalling $48.19 billion were examined in respect of the Ministries and Regions for the year under review.

Overpayments amounting to $1.011 billion were made on measured works under 86 contracts administered by the respective entities.

 The audit report indicated that all amounts were subsequently recovered in full, and all outstanding works were completed for which payments were made.

The Ministry of Finance, in a statement, proudly attributed this remarkable achievement to robust systems that effectively prevented and recovered overpayments.

“Because of the implementation of the recommendations in the Audit Report, the number and severity of breaches have also reduced markedly. More importantly, these efforts demonstrate this government’s commitment to transparency and accountability in public financial management, as well as to the rule of law,” the ministry said.

Guyana is working towards greater transparency and accountability. Minister of Parliamentary Affairs and Governance, Gail Teixeira, discussed Guyana’s progress in governance and institutional development since 1992. She emphasised the need to improve oversight systems and establish legal frameworks for accountability.

Such oversight systems include agencies such as the Audit Office.

“We’re very happy that full recovery of overpayments for three consecutive years, 2022, 2023, and 2024, was achieved, and that is setting a new benchmark for accountability. So, the Auditor General’s report this year, you can now, by data, measure the progress Guyana has made,” Minister Teixeira said.

This showcases a remarkable advancement in contract enforcement and accountability for contractors, unequivocally highlighting the government’s unwavering commitment to transparency and the reinforcement of trust in public institutions.