FORMER President, Dr. Bharrat Jagdeo has said Guyana has moved from being a country where the national wealth could not sustain its investment needs to a nation on a stronger footing.Speaking at the launch of the People’s Progressive Party Civic (PPP/C)’s campaign at the Kitty Market Square on Sunday, Dr. Jagdeo told the thousands in attendance that there was a time when Guyana could not get any investment because it was managed by an insular administration.

The People’s National Congress Reform (PNCR), he said, has not changed, and has found a willing partner in the Alliance For Change (AFC) in chasing way investors.
The two parties, which have since joined forces to form the A Partnership for National Unity+ Alliance For Change (APNU+AFC) Alliance, had deemed the Amaila Falls Project, a US multimillion investment, as corrupt and voted it down.
The project was expected to bring cheap energy to the country, and serve as a stimulus to springboard development in the manufacturing sector.
But the combined Opposition, the APNU and the AFC, had said apart from being corrupt, it was poorly conceived, but the Government strongly maintained that move by the Opposition was vindictive and geared at blocking its developmental agenda.
At the time, several civil society groups, led by the Private Sector Commission (PSC), condemned the move by the combined Opposition, but its leaders were unmoved.

DEAF EARS
Even former US Ambassador D Brent Hardt made an appeal for the project to stay, but his words fell on deaf ears.
Ambassador Hardt, in one section of the media, had said: “Until recently, the project, which has been under development for six years under Sithe Global, appeared to enjoy the implicit support of all political parties… In recent weeks, however, the project suddenly became enmeshed in political battles that had little to do with the potential of the project to generate cheaper, more reliable, and more environmentally-friendly energy for decades to come.”
Following the Ambassador’s comments, a prominent trade unionist in support of the decision by the APNU and AFC, accused him of looking out for the interest of US investors.
Dr. Jagdeo said while Guyana is not without challenges, the PNCR/APNU and AFC should stop chasing away investors.
“So we have to keep this country open to investors from all around the world, while ensuring that they contribute to the upliftment of our people,” he said.
Granger had warned that if elected to office, the Alliance will review all the big projects that it sees as dubious.
THREAT
But the former President said Granger’s pronouncement should not be taken lightly.
“He has already stated threatening the investors, when the United States of America seeks investors, when Canada seeks investors, although they are developed countries, Granger has started chasing away the investors,” Dr. Jagdeo said.
According to the former President, this does not bode well for Guyana if Granger and his men get into power.
“You know what’s gonna happen, I predict that if they were to win, we will have the exchange rate going to G$500 to US$1, they will eat up all the money that we have in the Central Bank, because that’s their way of doing things. They will eat it up; the interest rates are going to skyrocket again. Then you will have a mass exodus like in the past from this country and the US Embassy will have to clamp down once again on issuing visas,” he contended.
ISSUING VISAS
Today, he said the US Embassy has been quite liberal in issuing visas, because not all of them who go to the US stay there.
“They (US) themselves say that… of the 51,000 who got visas, 48,000 came back. Well, in the future, you put the PNC in, and with their philosophy of development, you will see what will happen in this country.”
Guyana has moved way from these ‘dark days’, the former President said, telling the massive gathering that there must be no return.
Guyana has enjoyed nine years of consecutive growth and has enjoyed decent reviews from the World Bank.
The bank says Guyana is rapidly emerging as one of the countries with the highest economic growth rates in Latin America.
“Economic growth between 2000 and 2007 averaged slightly over two per cent, below the regional average of about 3.7 per cent. Growth in the economy has accelerated significantly since then averaging over four per cent per annum.
“Guyana weathered the effects of the recent global financial crisis very well compared to other Caribbean countries or the rest of the Latin American and Caribbean Region,” the bank said.
Dr. Jagdeo also told the massive Kitty Market Square gathering that the PNCR has begun threatening businesspersons, telling them that “if you don’t give us money for our campaign… when we get into office, we gonna deal with you.”
But sources close to the PNCR have denied the charge.
However, the former President said, “That is the nature of the beast,” and if they are elected to office, “it’s not only on the economic side that we gonna get white mouth again,” but also in the area of security, as it will be managed by persons with a murky past.