-Kaieteur News & Stabroek News chided for not carrying this story
The International Monetary Fund (IMF) says Guyana has weathered the impact of the global crisis well by regional and global standards and it has sustained a solid macroeconomic performance supported by prudent policies. However, persons are asking why this particular report was not given any coverage in the local press by the Kaieteur and Stabroek News, who throughout their years of existance have never been shy in giving front page coverage to reports that paint a negative picture of Guyana. The fund’s Executive Directors, following the IMF’s latest assessment last month, commended the commitment of local authorities to further entrench macroeconomic stability and fiscal sustainability, while promoting long-term growth and development to improve the country’s standard of living and reduce poverty.
In a press release, they observed that the strong fiscal consolidation in 2009 provides space for a more gradual tightening over the near term to support infrastructure investment and growth.
“A cautious fiscal stance remains nevertheless warranted given remaining vulnerabilities. Directors therefore supported the authorities’ commitment to maintain prudent expenditure policies and to continue implementing structural reforms aimed at safeguarding fiscal sustainability”, the fund said.
The IMF Executive Directors welcomed Guyana’s efforts to achieve sustainable long-term growth, including under the Low Carbon Development Strategy (LCDS).
They noted that continued modernization of the sugar sector and diversification of Guyana’s productive base are key to sustaining growth.Read more......