Monday, August 29, 2011

Hoyte’s much-touted Economic Recovery Programme (ERP) was an IMF conditionality forced upon him

Persons protesting against food shortages and Burnham's banning
of certain food items

The absolute balderdash served up in the opposition media and by letter-writers and others in support of opposition parties, as well as opposition leaders themselves who tell barefaced lies in efforts to reconstruct history and restructure facts – all with a sanctimonious demeanour – and in local parlance they would be called bare-faced liars, often leaves one gasping in disbelief.
No return to Empty Rice Pots (ERP)
What also flummoxes those who know the truth is the fact that, despite unlimited evidence to the contrary, some persons who lived through the times of terror, deprivation and starvation and were even victims of the system, support the hypocrites who promise them the sun, the moon and stars when they get rid of the PPP/C administration, in spite of knowing that these very persons had only delivered destruction, chaos, and empty rice pots (ERP) when they ran the country.
And Carl Greenidge of all people: For him to be pronouncing on Guyana’s economy and corruption when he should be hiding his head in shame for presiding over the destruction of this nation’s economy which he admitted to in his budget presentations, is an abomination.
Hoyte’s much-touted Economic Recovery Programme (ERP) was an IMF conditionality forced upon him by the IMF when the PNC sought funding after they had wrecked this country in every way imaginable.
He was forced to concede to open up the press, open importation of banned items, re-establish a capitalist system in the country, agree to free and fair elections, and create a mechanism that would restore the nation’s economy on a solid footing before he could access any additional funding from International Funding Agencies.
Thus was the ERP conceptualized. But the resultant, punitive repercussions on the Guyanese public superseded any that Burnham had imposed. Added to the angst of the people was the freezing of Public Servants’ wages at $2,000; as well as the bargaining power of trade unions, which had already been severely restricted under Burnham.
One senior trade unionist was reported to have been taken in a plane and threatened with being dropped into the Demerara River if he did not accede to Burnham’s wishes, which he was allegedly forced to do; until Dr. Cheddi Jagan, upon assumption of office in 1992 told the IMF to shove their conditionalities, unfroze Public Service wages, and restored bargaining power to trade unions.
So President Jagdeo’s advice to the youths to research their past is full of merit, unless they want a repeat of the consequences of a PNC, or a PNC coalition in Government.

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