The recent gold find by Omai

Nov 01, 2022 Letters

Dear Editor,

Much has been said about the recent gold find and its value being twice that of our national debt. What is being overlooked is the low percentage that Guyana receives from its sale. Also, we have an opportunity to treat this find and subsequent ones as a natural Fort Knox.

The Obama Administration did make a previous offer when the price of gold on the world market was a fraction of what it is today. The current economic climate has made the price of gold rise, making the Obama arrangement a much better option than it was before.

We preserve the environment while obtaining the economic benefit of the discovery at a much higher percentage than if we were to sell it through the current arrangement. A discovery of this size allows the nation to use it as the reserve that strengthens our currency. Giving us the buying power needed to be successful during this growth period without the burden of additional debt. His Excellency, President Irfaan Ali and the Ministry of Finance should relook at the US arrangement and its merits. It is a great opportunity that can lead to a stronger vision and path towards a sustainable future for our nation. His Excellency, President Ali and his Administration would be able to continue to accomplish the goals of their manifesto without sacrificing the beautiful environment which all Guyanese enjoy today.

Best regards,

Mr. Jamil Changlee

Chairman

The Cooperative Republicans of Guyana

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