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Where the money coming from to pay cash grant?

Oct 17, 2024 Letters

Dear Editor,

Reference is made to President Ali’s recent announcement of the proposed cash transfer of GY$200,000 to each Guyanese household. Since this GY$60B, was not incorporated in the Budget, AND as a taxpaying citizen, I ask the following questions that beg answers:

Was this Guy$60B, a loan borrowed by the Guyana Government? If so, what was/is the Annual Percentage being charged by the lender? If this an INTEREST ONLY loan, what year does the Principal Amount borrowed (Guy$60B) become due?

If the payback features an AMORTIZED SCHEDULE (Principal & Interest paid together), what date/ year is the final payment due?

The Guyanese Taxpaying public needs to be informed since this may very well be a situation where our (Guyanese) Tax Dollars will be utilized by the Government to service/ pay back this loan.  Failing a finite response to explain/ negate the above questions, we will have to assume the worse and treat this $200,000 as if we (Guyanese Taxpayers) went to the bank and BORROW the $200,000 and have to pay it back, regardless. If it is the case that the Government borrowed the Guy$60B and we have to pay it back (Interest & Principal) with our taxes, over an extended period of time, are we actually benefiting from the unanticipated windfall of the $200,000 “Christmas” gift or is this purely political gimmickry?

Guyanese Taxpayers need to know.

Sincerely,
Jonathan Subrian, Esq.

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