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How many false promises or white elephants will be found on this path?
DEAR EDITOR,
I began this letter at least three times, and, each time, the backspace key erased the words of anger. The anger stems from reading your article entitled, “IDB praises Guyana’s efforts to strengthen oil and gas sector,” which appeared in the March 12, 2019 edition. In fact, the photo accompanying the article made me wince.
I winced because this image seems to symbolize the sashaying of Guyana onto a dangerous path. This path will only lead us to being saddled with tremendous debt.
At the end of this path lays a system of slavery for our next generation; they will be generating capital for the Bank while engaging in the exchange for the ephemeral, which seems to be couched as climate-related matters.
I wonder how many false promises or white elephants will be found on this path? Will our grandchildren be able to enjoy the possibility of oil wealth?
The leadership of Guyana needs to safeguard against the gamble of the country’s future wealth. Wouldn’t you agree with me that not one barrel of oil has been sold? Why then would the leadership of Guyana want to leverage the possibility of oil against the improbability of being debt-free? Isn’t this the best time to remind our leaders that a bird in the hand is worth two in bush?
As if the Guyanese government has not learnt from past mistakes, it is leading its constituents into the debt trap—once again—exemplified with the signing over of our future to the tune of US$41 million and continuing to entertain a bauxite company digging a hole for fourteen years with nothing to show for it.
The leadership of Guyana needs to decide if they want us to stand and to live free today or to crawl and become slaves and beggars of tomorrow. Speaking of slavery, we need to let Rusal go, because they wukin’ for nutin’.
By the way, what exactly is the Electronic Single Window for Trade and the Energy Matrix Diversification? And what are their promises for the future of Guyana? Notwithstanding the possibility of debt, is it possible for the government of Guyana to lean on its local banks?
Help us to think through the issues,
L. A. C. Archer
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