Keeping public informed critical for maintenance of Govt.’s legitimacy

Keeping public informed critical for maintenance of Govt.’s legitimacy – IMF

Jul 19, 2017 News

The International Monetary Fund (IMF) has shared its view about the critical nature of information sharing between Government and the public about oil related issues. This is in the IMF’s most recent report on Guyana.

The view shared by the IMF is similar to that expressed by many in Guyana. They all are saying that the free flow of information from Government to the general public as well as the media is crucial.

IMF said, “Communication with the general public is a critical part of maintaining legitimacy domestically, as well credibility internationally.”

The body continued, “Informing the general public about the characteristics of the investment strategy and the risks that are taken should contribute to making the implementation of the strategy more robust in times of high market volatility.”

IMF also linked the importance of public information to the setting up of a Sovereign Wealth Fund (SWF). That body said that it is “common for many SWFs to organize educational seminars, engage with the media, and maintain an active website with up-to-date information on the SWF’s activities.”

There has been a deficit of information in the public domain about many oil related issues.

Guyana is seeking to become a member of the Extractive Industries Transparency Institute (EITI). However, engagement with the public, particularly civil society is also critical for membership to that body.

Nevertheless efforts by civil society so far to get information out of the government about matters related to the oil deal have been futile.
The Transparency Institute of Guyana Inc. (TIGI) tried to get information out of the government in this regard. It had written to the Minister of Natural Resources, Raphael Trotman, seeking information.

However, the body had to turn to the media after Minister Trotman refused to even acknowledge receipt of the letter. To this day, the body cannot get the information it is seeking.
The Guyana Oil and Gas Association (GOGA), also another non-governmental organization wants information from the government that it is not getting.

One of the Association’s Directors and prominent lawyer, Nigel Hughes, delivered a presentation in Trinidad and Tobago. He noted that the government has failed to give information about key concerns of the Guyanese people.
These include whether there is a ceiling for cost recovery in any given year. Hughes also pointed out that there has been no indication whether cost recovery is a percentage of revenue.
Hughes noted, too, that Guyanese are yet to be told how the government intends to validate the costs ExxonMobil has incurred. This is important, as the possibility of inflated cost cannot be ruled out.
Hughes said, “There is also an absence of any information on key variables including life of the project in years, the total investment, the annual fixed cost per year, estimated cost of a barrel of oil for the project, and whether any duties, tax concessions were granted.”
During his presentation, Hughes spoke about the call made by the Working People’s Alliance (WPA) for more information to be put in the public domain.
He said, “One of the parties in the Coalition called on the government to publish the contract.” He said that the Chairman of the WPA, in a letter to President David Granger said, “There is no justifiable reason for not publishing this contract. Seeking public comment on it is our democratic obligation. And engaging the widest possible sharing of views can only help the coalition government to make wiser decisions.”

Hughes is not the only one with these concerns as many have been expressing similar concerns in the letter pages of the various newspapers.
The media, which also forms part of civil society, has been asking questions but still cannot get information.

For instance, the Minister of State was asked to disclose the names of the lead negotiators that have represented Guyana’s interest so far. His response was, “Those names are still under wraps.”

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Keeping public informed critical for maintenance of Govt.’s legitimacy – IMF

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