AS Guyana’s economy continues to boom, there are understandably rising expectations by Guyanese of a brighter and secure future.
Already, the face of the country is changing with the labyrinth of new roads and streets. This is especially evident on the East Bank and West Bank of Demerara. Indeed, it is not uncommon for drivers to lose their way, especially those unfamiliar with the new road networks.
The political opposition, faced with the reality of a new Guyana has resorted to the unfounded arguments that there is too much emphasis on infrastructural works.

It is not uncommon to hear leading opposition elements saying “you cannot eat roads and bridges” in an effort to minimise the impact these developments are having on the wider populace.
These arguments are at best specious, and do not take into account the advanced state of physical and infrastructural decay inflicted on this nation by the nearly three decades of PNC dictatorial rule.
After the return of the PPP to office on October 1992, the rebuilding of the economy literally had to start from scratch. That neglect proved highly costly, as huge sums of money which could have otherwise been spent on higher wages and salaries and other social services had to be spent on infrastructures, which were in a dilapidated state under the previous PNC regime.

The sad part of those sordid years was the high and unsustainable debt burden which the country experienced through excessive borrowing, both from the local banking system and international lending institutions. So bad was the situation that Guyana was declared ‘uncreditworthy’ by the International Monetary Fund (IMF).

The country was faced with a debilitating debt burden which consumed over 90% of revenues. Despite the heavy borrowing, there was hardly anything of substance to show due to corruption, mismanagement and improper feasibility studies.
Thankfully, the situation today is markedly different owing to generous debt write-offs and rescheduling initiated by the PPP/C administration.

The country’s credibility was restored and Guyana was regarded by the international community as a model country which has successfully transitioned from a state of relative backwardness to middle-income status.
With the PPP/C administration back in office after a brief hiatus, that development momentum has intensified over the past four years due in part to greater revenues from oil, but also as a result of fiscal discipline and prudent management of the economy, which is now experiencing balanced growth.

The different sectors work holistically and synergistically to consolidate and enhance the growth momentum. Guyana is today benefitting from both infrastructural and human development, which is quite unlike what transpired under the PNC regime when there was neither infrastructural development nor human progress.

The PPP/C administration must be commended for its prudent economic management and fiscal policies which have catapulted Guyana to one of the fastest-growing economies in the world.