IT is extremely dangerous for any political leader, nationally dishonourable and unpatriotic, to utter falsities on matters of his/her nation’s political, social and economic history.

Such can only emanate from one, who is grudging, spiteful or even reckless; concomitantly having an agenda to destabilise, by the deliberate dissemination of information designed to mislead and misinform.
It is unfortunate that such an anti-national strategy continues to be one of the main political Opposition playing cards, mischievously being dealt by one of their leading members, Mr. Moses Nagamootoo who is fast building a profile of lies and distortions.
But the facts will remain the facts, because their collective had caused the once proud nation of Guyana and its people, prior to 1992, to suffer immeasurably.
Anyone familiar with the socio-economic landscape in which the PPP/C government assumed office in 1992, will know that it inherited a socio-economic nightmare, of which the principal was a massive public debt of US$2.1B.

As a reminder for those whose memories plead pretence, or for the younger-aged category, most of this debt was amassed, because of investments in economic projects that were not properly conceived, such as the glass factory, the caloi bicycle factory, the vanceram venture, and attempts at juices, dry milk and cereal manufacturing which did not last very long. There was even the Upper Mazaruni Development initiative, inclusive of the Hydro attempt, that crashed!
These initiatives might have been undertaken, perhaps with the best intentions, but they dissipated. So who benefitted? Not the nation and its people. Instead, there was a continuously burgeoning public debt that hung around the necks of the nation’s citizens.
Such runaway debt became unsustainable since the PNC regime was no longer able to service its repayment obligations, hence the bankruptcy of the nation.
This explains why the nation suffered in the manner that it did: massive food shortages, blackouts, restrictions on currency outflow, a devalued currency, coupled with a thriving underground economy, among the many indignities.
One never hears such instances being recalled by the perennial critics, particularly this political leader, simply because it is their intention to cover-up, hoping that time will erase memories, and distort.
For Nagamootoo to say that the public debt has increased is wilful wickedness. How can this be when all is aware of the herculean efforts undertaken by former President Jagdeo, in securing debt write-offs? It must be reiterated that this particular Jagdeo initiative has been instrumental in reducing the public debt to its current sustainable level of US$1.7B. Of course, this debt is sustainable, since it is being serviced by just 9% of government revenue, in comparison to 90% in 1992, according to the Honourable Minister of Finance, Dr Ashni Singh.
The attempted deception on the part of this opposition political leader was an attempt at creating the baseless impression of an economy that is continuously being saddled with debt, because of further borrowing on the part of the PPP/C Government.
If this were the case, how does one account for a consistent five percent economic growth, with some of its supportive components of export earnings up to 2012, of US$1.4B from US$382M in 1992; external reserves from a level of US$192M in 1992, to US$872M in 2012; and revenue collection from US$141 in 1992, to US$637M in 2012?
These are not magical stats pulled from a magician’s hat – they represent the results of wise fiscal management by a Government, who understands the positive returns from sound investment policies.
Finally, one only has to observe throughout the length and breadth of Guyana, the progress that is being derived from funds borrowed by the government. The people are the continuous beneficiaries of these investments. Not a penny is wasted!