IT is highly disappointing that the National Assembly was unable to pass the Anti-Money Laundering/Countering the Financing of Terrorism Amendment Bill (AML/CFT). It is even more disappointing that the much needed amendment has been impressed upon the Joint Opposition by the People and Government of Guyana, the Business Community and the Diplomatic Community. 

Guyana is now in jeopardy of being labeled a high risk country for international financial transactions, the ramifications of which have already begun to see delays in banking and money transfer transactions. These financial delays will result in increased commodity pricing and higher transaction fees to all Guyanese.

Government has made exhaustive efforts over 6 months through 17 meetings to involve, inform and accommodate the Opposition in the Special Select Committee (SSC) of the National Assembly, to discuss the amendment to the Bill. Due to numerous failed attempts by the Joint Opposition to meet, Government proceeded with the business of the SSC as the Amendments are critical to the economic and social wellbeing of Guyana and its people.
At no point in time did the Opposition offer any recommendations or suggestions on how the committee can move its business forward. Therefore, the Government representatives proceeded to conclude the work of the Committee without any input from the APNU or AFC and tabling it in the National Assembly, it is disappointing that they have made no effort to cooperate or involve themselves at this critical juncture, over such vital legislation.

Government will now return to the drawing board where it will collectively regroup and weigh its options to decide on the most feasible course of action that will benefit all of Guyana.

Yet this lack of involvement and cooperation by the AFC and the APNU further supports Government’s long held position, that the Joint Opposition has but one intention: to disrupt the economic, social, infrastructural and international credibility of Guyana through its one seat majority.
This is evident in their constant attacks and inflexible opposition to any and all developmental projects proposed by Government. The more prominent projects that have been subjected to the AFC and APNU’s unwavering opposition are the Amaila Falls Hydro Power Project, the Marriott Hotel Project, the Specialty Hospital and now, the AML/CFT amendments.
The failure of the National Assembly to pass this legislation has far reaching consequences that have been shared with the Opposition and the public over recent months. Guyana is now in jeopardy of being labeled a high risk country for international financial transactions, the ramifications of which have already begun to see delays in banking and money transfer transactions. These financial delays will result in increased commodity pricing and higher transaction fees to all Guyanese.
Despite this delay, the public should be assured that Government has done all it can, within reasonable scope, to prevent these unfortunate consequence from ensuing. While this was not the anticipated outcome, Government remains committed to finding a solution to this impasse so that the common man and woman will not have to bear the consequence to this failed legislative action.
Government will now return to the drawing board where it will collectively regroup and weigh its options to decide on the most feasible course of action that will benefit all of Guyana.