Guyanese face tough decisions this year - Prashad
THE Georgetown Chamber of Commerce and Industry has warned that investors will "take their dollars elsewhere if we cannot convince them we are serious about investment". The warning came in a New Year's message from Georgetown Chamber President, Manniram Prashad who has reiterated the need for the urgent enactment of a comprehensive policy on investment and an investment code. Pointing out that the government, private sector, non-governmental organisations and all Guyanese face tough decisions, Prashad said this year will be a year where elections campaigning can catalyse social disruptions which threaten macro economic stability. And public sector reforms are inevitable. "All social partners must resist promoting and participating in any kind of disruptive activities that will jeopardise our development as a nation. "Only Guyanese can best resolve Guyana's problems. We cannot afford another year of social instability," Prashad said. Looking back on 1999, the Chamber President said last year has been, in many respects, a most eventful year for Guyana. Economic activity within the business sector was comparably better in 1999 than for the corresponding period in 1998. "However, the business community is still struggling to regain competitiveness in an economy that is far too dependent on traditional exports," Prashad noted. This year, Guyana can benefit substantially from the Heavily Indebted Poor Countries Initiative (HIPC). "However, tangible relief under this programme can be withheld if the country does not conform to certain IMF conditionalities. Among these are ensuring a stable economic environment prevails and the budget deficit is lowered," Prashad said. Extending a peaceful, healthy and successful year 2000 to all Guyanese, Prashad said: "Let the new century usher in a greater degree of intelligence, understanding and tolerance among our people. Let us resolve our differences through legitimate channels and not through mayhem. Guyana has too much to lose and nothing to gain from social disorder. While natural disasters plague other countries, our biggest problem lies within ourselves and the way we relate to each other. The next century can bring a bright future to us as a nation if we cooperate, or it can leave us covered under a mudslide of our own creation. The future depends on us. Choose wisely."
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