THE parliamentary agenda has been set for its next sitting come next Wednesday, but does not include government’s amendments to the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill.
With Guyana slated for international sanctions and blacklisting should the

amendments not be approved by May 27, the Private Sector Commission has since added its voice to the public debate.
“Guyana presently stands at great risk of being deemed a credit risk by international financiers and becoming subject to sanctions restricting international financial transactions if we do not immediately put in place and implement the legislation required by the Organization of Economic Cooperation and Development (OECD), to counter money laundering and the financing of terrorism…Guyana cannot afford to be blacklisted in this manner.”
The PSC yesterday, in a public missive, reminded that following the presentation of Budget 2013, it had expressed its unqualified support for the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill, and urged the National Assembly to deal with the  amendments to the Act as a matter of absolute urgency.
It says now that it is gravely concerned at the significant and irretrievable damage to the country’s ability to conduct international banking and business which would result should this Bill not now be passed, and Guyana fail to comply with the deadline set by the Caribbean Financial Action Task Force (CFATF).
This past week, the Alliance For Change (AFC) indicated that it will not be supporting the amendments to the legislation, should Head of State, Donald Ramotar, not assent to two pieces of opposition-led legislation that he had refused to sign.
Those bills will now require the support of two thirds of the 65 Member National Assembly before it can be returned to Ramotar.
Finance Minister Dr Ashni Singh had called the position adopted by the AFC “shamelessly irresponsible.”
“What the AFC is essentially saying is that, irrespective of how important this Bill is, or what the consequences of its non-approval would be, they are not prepared to support it because there are other political issues on which they wish to extract concessions from the government,” Minister Singh said.
The amendments to the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill is currently engaging  the attention of a Special Select Committee of parliament, where members of government and the opposition have been meeting on a daily basis in closed doors sessions in an attempt to iron out differences.
At the time of its committal to the Special Select Committee, Minister of Legal Affairs, Anil Nandlall, who presented the amendments for debate, vehemently opposed that course of action.
Nandlall, at the time, argued that the ‘elaborate’ amendments to the legislation arise out of Guyana’s obligations to the Vienna Convention, as well as the Palermo Terrorist Financing Conventions.
According to the Minister of Legal Affairs, should Guyana renege on its obligations, the country can firstly be placed on an international blacklist with the possibility of prohibitory sanctions being imposed.
The minister informed the House that the recommendations in the form of the amendments that have been presented to the National Assembly emanate from the Caribbean Financial Action Taskforce.
The taskforce, according to Nandlall, is responsible for “monitoring the operation of legislation of this type and nature throughout the Caribbean area.”
The amendments are “considered key and core recommendations arising out of Guyana’s obligations under two treaties.”