Former senior director in the Caricom Secretariat’s Office of Trade Negotiations and PNCR Presidential hopeful, Carl Greenidge has demanded an explanation for the non-renewal of his contract.
Thank goodness the firing was done by Caricom, otherwise all hell would've broken loose.
He should stop wasting Caricom's time with his "due process" and other flimsy requests.
In 1988, the external payment arrears amounted to almost three times Guyana's GDP.
ReplyDeleteTo finance the budget and the overall deficit, the PNC administration with Greenidge as its chief financial officer resorted to heavy borrowing. There was a sharp increase in commercial arrears (US$1.2 billion in mid-1989) and the total public sector external debt reached almost US$1.9 billion by 1989 or more than twice its level at the beginning of the 1980s. Measured by the usual indicators of debt to GDP and debt to exports, Guyana became one of the most heavily indebted developing countries in the world. With such a track record should he be running for presidency?
Carl Greenidge admits that when the PNC was voted out, the country was in an economic quagmire. He insists it was a problem that resulted from several factors, including the fact that the debt burden the country was saddled with came as a result of the accumulation of debt by the PNC since they hijacked office in 1964 as well as those in the 1970s and 1980s.
ReplyDeleteGreenidge also agree with President Jagdeo’s repeated assertion that in 1992 when the PPP took office, 94 percent of revenue had to be used to service debt. He said the President’s figure was correct.