‘Things tight’. According to Guyana’s economic Mid Year Report domestic prices went up some 14% with an inflation rate of 5.6% under the PPP. Installed President Irfaan Ali recently told the nation to “brace” for economic hardships. The Georgetown Chamber of Commerce and Industry (GCCI) President Timothy Tucker also said recently that the country can expect shortages.
A recent report out of the World Bank suggests that remittances to Guyana and similar countries of the Caribbean and Latin America have an expected growth of 7.3% in 2021 as migrants’ concerns for dependents back home increase. Guyana is currently seeing record unemployment, and both farmers and fisherfolk just recently complained about the hardships they face.
The installed PPP regime’s policies remain inadequate to stem the tide of economic gloom.
More, In The Ring.
