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Guyana could very likely import inflation-Ramotar

Dec 31, 2009 News

People’s Progressive Party General Secretary, Donald Ramotar, is warning that Guyana is not in the clear as it relates to the global financial crisis that enveloped the world this year and left millions homeless and jobless.
According to Ramotar, in his deliberations with several senior economists, it was explained that with all of the money being pumped into large economies as stimulus packages it could result in global inflation.
He said that given Guyana’s nature of importing goods, inflation will be attached and this would not bode well for Guyana.
“The financial crisis is not over as yet.”
When asked his opinion last evening Dr Yesu Persaud, one of Guyana’s leading entrepreneurs, said that while he is hopeful that this does not happen he said that given the nature of globalization it is possible.
He said, too, that this could not be a good thing for Guyana, given the fact that Guyana primarily exports and imports.
Should what Ramotar is warning happens, then what Guyana is paid for its exports would not represent the true value.

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