2004 could be better year for Guyana -PPP
Stabroek News
January 1, 2004
The People's Progressive Party/Civic is euphoric that at the end of 2003 Guyana received the good news of a further significant reduction in the foreign debt.
Two weeks ago, Guyana received approval for debt forgiveness in the amount of US$30M per year for the next 20 years from the World Bank and the International Monet-ary Fund (IMF).
In a statement read by General Secretary Donald Ramotar, the PPP/C said that the debt relief will allow the country to improve its social infrastructure, which is crucial to economic development. The party held its end-of-year press briefing on Tuesday at Freedom House, its headquarters.
"We have managed to also keep the productive sectors of the economy stable despite the many problems we have in our export market," Ramotar said. The general secretary said also that it is well known that for most of 2003 the economies of Guyana's main trading partners were stagnant at best and, in some cases, in recession.
He said that during the last quarter of the year signs that the international economy was emerging from crisis were seen. "This is good news for our country, since it suggests that international prices and demand could improve," Ramotar said.