Latest update June 21st, 2026 12:30 AM
This is financial rape and economic slaughter
Dear Editor,
As usual, Kaieteur News ‘buss the bag’ on the nasty, corrupt, degenerate PPP banditry and misuse of taxpayers’ money. The PPP has been lying to Guyanese all along on the Amaila Falls hydro project. All along they adamantly stated the government is investing only US $100 million when in fact, the PPP was secretly investing US $157.2 million and is providing a guaranteed US$36 million debt reserve for GPL.
There are burning questions the Guyanese people are asking of the PPP now in light of these revelations. Who owns the US $57.2 million the PPP government lied to the nation about and tried to hide from the public? Is it owned by the people of Guyana or by individuals or companies linked to the PPP cabal and the soup drinkers connected to the oligarchy?
If owned by the elites – who are they? What are their names? What corporate entities are they hiding under? Who is putting up this money? If this US$57.2 million came from the taxpayers of Guyana, why the secrecy, hiding and lying about using it? Was it hidden to enable the profits and returns on that US$57.2 million to be taken and secreted away without the Guyanese people knowing? Were there plans to steal this US$57.2 million and the returns on equity it would have produced without the Guyanese people knowing?
After all, US$57.2 million of taxpayers’ money at 19% guaranteed return on investment on the initial sum of US$57.2M for 20 years is a guaranteed US $217.36 million in returns alone. Were a pack of vagabonds planning on investing the Guyanese people’s money and secretly pocketing those hefty returns? Were these rogues planning on burdening the Guyanese people by forcing GPL to raise light bills on Guyanese in order for them to collect their US$217.36 million?
It is grossly unpatriotic, unequivocally ‘dunce’, abjectly incompetent, frighteningly stupid and possibly willfully fraudulent, to knowingly enter into a deal where you are investing and guaranteeing more (US$193.2 million) than the other investor (US$157.4 million) yet you agree to a minority stake in the enterprise (40%) versus the other investor (60%).
How could any investor and even worse, any government, willfully debase itself and the investment of the nation it represents in a transaction in this sheepish, gutless and spineless fashion? How could the PPP government invest and guarantee US $193.2 million in this project while Sithe Global invests US$157.4 M and Sithe ends up owning 60% of Amaila and Guyana owns just 40%? How does the PPP guarantee 55% of this project cost from investors yet agree to 40% ownership of the company?
Even at US$157.2 million versus US $157.4 million, how could this shameless and pathetic PPP bunch accept 20% less ownership stake when Sithe Global invested only US$0.2 million more than the government?
The evidence strongly suggests this is not stupidity, imbecility, idiocy, tomfoolery, incompetence and ineptitude any more. It is not Donald Ramotar’s new favorite word ‘jackassery’. Not when the PPP has experience in handling large scale projects. This is appearing more like deliberate non-disclosure, false representation, misrepresentation, abuse of position of trust and deprivation to the taxpayers. This is financial rape and economic slaughter.
M. Maxwell
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