I agree with Chris Ram's argument

I agree with Chris Ram’s argument

Jan 14, 2026 Letters

Dear Editor,

Government spending that is structural is hard to curtail or scrap. The government is fiscally correct to not institutionalise across-the-board cash transfers, and to resist such demands in the 2026 Budget.

Guyana needs to move quickly to medium-term fiscal budgeting given the volatility of oil prices. I’ve laid out the basic arguments and provided many case studies in my book, “From Rags to Riches: Is Guyana Ready for the Oil Bonanza: and further in my current book” Contemporary Problems for Caribbean Economies: Crucial Problems and Practical Solutions, Macmillan publisher, Oct 2025.

Guyana can take lessons from the failed social policies of Bolivia during the gas boom, and the challenges facing Trinidad and Tobago as oil and gas dry up this decade, if new reserves are not found quickly. My hope for Guyana is that the public investments, the ongoing “big push”, will turn out to be productive and pave the way for growth and development. Oil is a finite resource, a point worth noting with “Liza One & Two on track to dry up in three years” (see Kaieteur News).

In this decade Guyana will need billions to cover maintenance for wear and tear and for upgrades. Deferring such capex would be unwise — witness the production problems with GuySuCo — as the nation would be left with substandard and decrepit infrastructure. Policymakers would be foolish to ignore these warnings.

Regards,
Terence M. Yhip

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