Taking objection to an economic analysis

Jun 07, 2018 Letters

Dear Editor,

The column ‘Report on End of year Outcome 2017’ published by Stabroek News this week and written by Anand Goolsarran warrants a response, since what Mr. Goolsarran claims, is out of sync with the substantiated views expressed by economists, like Mr. Sasenarine Singh and others.
Only recently Stabroek News published comments from Mr. Singh, where he pointed out that Guyana’s exports had dropped by $615M in 2017. And this is the least of the worrying economic signs that have been pointed out.
Another economist, Mr. Tarron Khemraj, in Stabroek News, pointed out that it is the Coalition Government that must take blame for the loss of investor confidence and the depreciation of the local currency.
Mr. Khemraj also criticised this government for the economic performance by pointing out that it is unfairly suspicious of the private sector and that the budget 2018 presentation “gives the impression that not everyone in the APNU+AFC government fully appreciates the crucial importance of stable macroeconomic forces.”
Mr. Goolsarran is not an economist, yet he claims that, based on his supposed analysis, Guyana’s macroeconomic fundamentals reflect a stable economy. This conclusion by Mr. Goolsarran would be strange if it were considered on its own. But, Editor, it is an interesting coincidence that Mr. Goolsarran’s comments came days after Finance Minister, Winston Jordan, was making great predictions about the economy for 2018, as reported in the Guyana Chronicle.
No one has forgotten that Mr. Goolsarran was an ardent advocate for the APNU/AFC Coalition Government.
No one has forgotten that Mr. Goolsarran also benefited from millions in forensic audit contracts, all of which were awarded in breach of the law. One of those audits alone was for $2.3M.
This was the man who, as a former Auditor General, presented himself as a champion for ensuring that the procurement laws were followed. Yet he accepted monies in breach of what he actually argued for.
All the forensic audit contracts were given out to people. The laws were not followed. In addition to not being an economist, wouldn’t such an action call into question his principles as an accountant too?
Editor, Mr. Goolsarran has also not told the Guyanese people yet about the $28B that was ‘lost’ annually because of weak procurement systems. As recent as 2015, Mr. Goolsarran was talking about credible reports of corrupt behaviour in public procurement. But he has not said anything about this since then. Why?
Editor, I submit that in the whole context, Mr. Goolsarran’s comments and his conclusion about a stable economy must be questioned. There must be some level of responsibility to the people when certain comments are made.
After all it is the people, regular Guyanese people, who are feeling the squeeze caused by the present economic conditions. No amount of ‘dressing’ by people like Mr. Goolsarran will diminish the APNU/AFC Coalition Government’s responsibility for the present economic situation.
Sincerely,
David Williams

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News