INTERNATIONAL lending Institutions praising Guyana: It must be doing good things.

THE prudent management of the local economy and the confidence in the present government continues to manifest itself daily through a number of ways.

First there are the World Bank and the International Monetary Fund complementing government on its management of the economy and for maintaining macroeconomic stability and promoting growth during very turbulent economic times.

Now the Inter-American Development Bank has increased its financial support to the country by some US$8M, up from US$20.6M to US$28.6M.

This money will help Guyana mitigate the effects of the global economic crisis, by propelling growth and generating economic activities. It will also be geared towards improving social safety nets, especially for the most vulnerable and will augment existing programmes.

Even though, the economy is not in a bad state, in the sense that we needed the money, but because of the administration’s cautious management, Guyana qualified for the assistance, along with three other countries. This in itself shows the confidence that these international lending Institutions have in the country and the Government.

Lots of people will want to say that Guyana is indebting itself, but that is not the case.

In fact, our economy and debt situation is so well off that the country has the additional capacity to take off the additional debt without degrading its risk of debt distress.
This is where Guyana, as a country has progressed today.
EMILY GRANT