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Ramotar to re-examine future relationship with Opposition
… calls Anti-money laundering vote the worst form of economic sabotage
In the wake of the combined Opposition’s rejection of the Anti Money Laundering and Countering the Financing of Terrorism Bill in Parliament on Thursday, Head of State, Donald Ramotar has announced that he is now forced to re-examine his future engagements with the political parties.
Head of State, Donald Ramotar
Ramotar yesterday hosted a media briefing at Office of the President, where he lambasted the stance taken by A Partnership for National Unity (APNU) and the Alliance for Change (AFC). He also highlighted the consequences of not having the legislative changes in time for the review by the Caribbean Financial Action Taskforce (CFATF) on November 18.
Ramotar said that he has since ordered the Minister of Legal Affairs, Anil Nandlall and Head of the Financial Intelligence Unit (FIU), Paul Geer, to explore ways of dealing with the impact of the Opposition’s action in rejecting the Bill.
Already one US Bank, Citibank has already severed all ties with Guyana and is no longer executing transactions with its local counterparts.
“From the beginning, the Opposition displayed an authoritarian behaviour in Parliament and it permeated every realm of their activities,” according to Ramotar.
He said that the arbitrary use of the one-seat majority by the opposition “convinces us that APNU and AFC have no regard for Guyanese and the well being of our society.”
The President told media operatives that the attitude of the Opposition in Parliament when the Bill came up for a vote, “confirms Guyanese worse fears…their vote against the Anti Money Laundering and Countering the Financing of Terrorism Bill clearly demonstrates that the Opposition is responsible to no one, to no organization, to no social institution.”
According to the Guyanese leader, it was the People’s National Congress, now APNU, through former Finance Minister, Carl Greenidge, as the main architect, that was responsible for the destruction of the private sector, the economy and the entire nation.
Ramotar said, “Today under the leadership of David Granger, the Opposition advances another phase of its agenda to destroy our beautiful country.”
He said that the Opposition vote has now exposed Guyanese to severe consequences.
According to Ramotar the implications of not having the anti money laundering law addressed are far reaching with dire consequences.
Ramotar spoke to the fact that the smooth transfer of money from local to external banks will be severely impeded or terminated altogether.
“An overseas bank has already severed ties with local banks,” he said.
The President reminded too that 85 per cent of the insurance industry depends on re-insurance in overseas countries and this sector would be one of the first sectors to be impacted.
“Thousands of Guyanese who depend on remittances from overseas will experience how difficult and burdensome it will become to receive money from the money transfer agencies.”
Ramotar reminded also of the pitfalls in the aviation sector which is wholly dependent on external countries for many of its commodities used to maintain operations.
Government employees overseas and students on scholarships will experience difficulty in receiving their salaries and stipends as a result of the country being blacklisted by CFATF, according to the President.
Ramotar in his continued rejection of the opposition stance, said that what is worse is that long before the actual vote on the Bill “the Opposition was well aware of these consequences…clearly the Opposition parties are determined to damage the economy and the body politic.”
In lambasting the Opposition, Ramotar spoke to the continued trend of the Opposition to derail development in Guyana and reminded of the Amaila Falls Hydro Electric Project, the budget cut to the Cheddi Jagan Airport Expansion Project and Specialty Hospital and their stance on the Marriott Hotel, among others.
According to the Head of State, the last parliamentary session which saw the Anti Money Laundering Bill rejected, “will forever go down as the worst form of economic sabotage by the Opposition…all hope is now lost that the Opposition has any intention of being a partner in developing our country.”
Ramotar said that it was in this context that “I am forced re- examine my government’s future with the Opposition political parties.” He did point out that there are several constitutional responsibilities that would cause him to have to meet with the Opposition Leader, David Granger and that these would be honoured.
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