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President Ali pleased over lift on Guyana’s temporary suspension from EITI
Kaieteur News – President Irfaan Ali on Tuesday said the Government of Guyana is pleased that the Extractive Industries Transparency Initiative (EITI) Board lifted its temporary suspension on Guyana.
Guyana was suspended from the body on February 1, 2023 for failing to submit a report documenting revenues received by the state from the extractive sector for the period 2020. EITI on its website had said that Guyana was not eligible for an extension of the reporting deadline for fiscal year January 2020-December 2020. It said too that the deadline for the publication of the outstanding report remains December 31, 2022.
President Irfaan Ali
Back then, President Ali had committed to hold to account those responsible for the temporary suspension of the country from the international institution.
Upon the announcement from EITI yesterday that the Board decided to lift the suspension following Guyana’s publication of the report, the Head of State expressed his satisfaction.
According to President Ali, Guyana published its report on June 30 within five months of the six-month deadline. He indicated, “The Government remains confident that all systems will remain in place to ensure that Guyana is not placed in a similar position in the future.”
The EITI Board approved Guyana’s application to join the EITI at its meeting in Manila on 25 October, 2017.
EITI sets out to promote an understanding of natural resource management, strengthen public and corporate governance and accountability, and provide the data to inform policymaking and multi-stakeholder dialogue in the extractive sector.
By becoming a member of the Extractive Industries Transparency Initiative (EITI), countries commit to disclose information along the extractive industry value chain – from how extraction rights are awarded, to how revenues make their way through government and how they benefit the public.
In each country that has joined the EITI, a multi-stakeholder group composed of government, companies and civil society, supports implementation of the EITI Standard.
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