-President says more critical appointments to come, following swearing in of 19 ministers

THE newly-elected People’s Progressive Party/Civic (PPP/C) Government is still in “search mode,” when it comes to the appointment of someone to the post of Minister of Finance.
President Irfaan Ali said his transition team has not yet identified an individual for the position, but hopes to do so soon, as all options are being reviewed.
“We are looking at the variables and we are still in search mode, so I cannot confirm any individual. We have not identified an individual,” said the president while responding to questions from the media, on the sidelines of a swearing-in ceremony for 19 ministers of government, on Wednesday.

In the structure of governance and government, the transition team has reached out to many individuals, but no one individual in relation to finance.
The Finance Minister holds a key portfolio, as he/she has oversight for government’s spending and plays a critical role in the preparation of a National Budget. Prior to 2015, Dr. Ashni Singh had served as the Minister of Finance under the Donald Ramotar-led administration.

While several ministers have already been appointed, Dr. Ali said the post of finance minister remains critical and more “critical” appointments will be made soon. He, however, said that, until a minister is appointed, the president has responsibility for that sector.

“And, with the skillset that we have at the moment in the Office of the President, with the former president (Bharrat Jagdeo), we are hoping to move quickly on a number of issues at the financial level, but it is an area that we are still searching for potential candidates,” said the president.
The work of government is, however, not hindered by the absence of a finance minister, as work is ongoing in relation to the preparation of a National Budget.
President Ali said government has been doing an assessment of the current economic situation and the availability of resources.
“That is ongoing, and what we have found is alarming in some of these areas,” said the President, noting that a lot has to do with the recent management of the Novel Coronavirus (COVID-19) situation.

To this end, President Ali assured that financing for initiatives to curb the spread of COVID-19, will be a top priority for government.
The task ahead will not be easy, but Head of the Department of Economics at the University of Guyana, Sydney Armstrong, believes the swift passage of a national budget would create some traction and stability for the economy, which has been burdened not just by the pandemic, but also by a protracted electoral process, which ended only on Sunday.
“There is the need for President Ali and his team to swiftly pass a budget for 2020 so as to create some traction for this economy in this difficult time and at the same time think about budget 2021,” the economist told the Guyana Chronicle during an exclusive interview, on Monday.
The country’s last budget, Budget 2019, was passed in December 2018, to the tune $300.7B. And, with the country already eight months into 2020, it is important for a budget to be passed soon.

Armstrong, in his advice to the new government, said the budget should be “people-focused,” and especially give priority to vulnerable groups.
Largely, the budget should focus on health, education, agriculture, infrastructure and industries, all with linkages to the new Oil and Gas Sector, which should be the central feature in the new budget.

“As a nation, we are at a defining moment given the development of our Oil and Gas Sector, but it is also important to note that the road up ahead is still going to be challenging, given that we are still in a global pandemic,” said Armstrong.

Considering the economic situation and the instability caused by COVID-19, the economist said there is need for a “stimulus package,” as this would ease the “economic hardship” faced by the vulnerable groups in society.

He also advised government to reassess the COVID-19 control measures because there has been a consistent rise in cases over the past few weeks.