…Guyana’s experience one the IDB can refer to, says Agriculture Minister
THE International Development Bank (IDB) earlier this month released a report that has opened discussions on food prices shock, inflation and protecting the urban poor.
And Agriculture Minister Robert Persaud, in an invited comment, said that the issue of food security is a serious one and countries can share experiences to better position themselves.
“The Guyana experience is one that the IDB can reflect on and use as a reference…we are the only country that is a net exporter of food and that has the potential to expand that,” Persaud said.
According to the IDB study, rising international food prices could trigger an acceleration of inflation in several countries in Latin America and the Caribbean this year, highlighting the need for policies to protect the urban poor.
The report estimates the potential inflationary impact of higher international food and oil prices for 13 countries in the region, and discusses policies that can be used to alleviate the impact of higher food prices on inflation.
The study concludes that rising oil prices will only significantly affect inflation in a small number of countries in the region this year. Also, it found that due to the  surge in food prices, increases in inflation could exceed five per cent in Bolivia, The Dominican Republic, Guatemala and Honduras, unless additional policy actions are taken.
“There is a need to increase and improve targeting of aid, perhaps through reformed conditional cash transfer schemes, to these groups to compensate the effect of the food price surge,” according to the Policy Note published by the IDB’s Research Department.
The 13 countries involved in the report are The Bahamas, Bolivia, Brazil, Colombia, The Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Peru and Uruguay.

FOOD SECURE

Persaud contends that Guyana is food secure, a status Guyana is seeking to maintain, and without food security, citizens are deprived of the fundamental rights to live fulfilling lives.
“The IDB in Guyana is a key player in supporting our agriculture diversification, modernization, as well as maintain the level of food security we have,” he said.
He added that Guyana’s constant engagement and support to national agriculture has been outstanding as compared to the rest of the Caribbean.
The major ripple effect of changes in the supply/demand dynamic will impact across the Caribbean and, in this context, the Jagdeo Initiative focused on advancement in both the regional and national contexts.
The Jagdeo Initiative aims to develop and implement targeted, focused and practical interventions to overcome the constraints facing agriculture.
Spearheaded by President Bharrat Jagdeo, it has been endorsed throughout the Caribbean for its thorough analysis of the state of agriculture, its hard look at internal and external factors, and for deepening the discussion of fundamental areas that need improvement, reform and/or initiation.
The Jagdeo Initiative identifies and defines key, crucial and binding constraints to agricultural repositioning in the Caribbean Region.
Among the constraints identified are limited financing and inadequate new investments; inefficient agricultural health and food safety systems; inadequate research and development; fragmented and unorganized private sector; insufficient land and water distribution and management systems; deficient and uncoordinated risk management measures; and inadequate transport systems. Locally, pursuing the Jagdeo Initiative has seen several interventions made by the current administration to help realise the country’s agricultural potential.
These include the new extension services programme that entails several components aimed at aiding cultivation and production, implementation of new technologies, and research.
The Agriculture Minister contends that the reality today is one of abundance and accessibility to food by all the people of Guyana – a result of sensible planning and the implementation of appropriate policy interventions.