A proud record Editorial
Guyana Chronicle
January 27, 2004

Related Links: Articles on debt
Letters Menu Archival Menu


OUR President Bharrat Jagdeo expressed straightforward confidence in Guyana when in a television interview he stated with assurance: "I am proud of our record."

He was speaking about Guyana's success in obtaining debt relief, which will improve life in Guyana, particularly in our social services, because more of our revenue will go toward betterment of people's lives and less to sterile debt payments.

The major international financial institutions commended Guyana's efforts to reform its economic policies and stimulate growth.

The International Monetary Fund (IMF), the World Bank's International Development Association (IDA) and the Paris Club have agreed that Guyana has taken the necessary steps to reach its completion point under the enhanced framework of the Heavily Indebted Poor Countries (HIPC) Initiative.

We are the 9th country to reach this point. Under the HIPC Initiative, the relief we have received amounts to US$413.6M.

President Jagdeo, who has been at the helm of Guyana's efforts to break the heavy load of the debt burden left the People's Progressive Party/Civic (PPP/C) when it took office in 1992, was, before he became President, working in this direction under the country's then President Cheddi Jagan.

Dr. Jagan was one of the first anti-colonial leaders to start a campaign for debt relief for and to poor nations, mainly of the Third World. This began before he became President.

Said President Jagdeo: "I feel very proud of our record. I fell very proud that we have taken a country that was bankrupt and restored it to viability, that we have moved Guyana from a low income country to a middle income country."

We must not be afraid to blow our own trumpets.

Unfortunately, there are those in our midst who actually tried to prevent the latest success. We note with interest a comment made by Deputy Vice Chancellor of the University of Guyana, Al Creighton, in a letter to Stabroek News (January 25, 2004) to this effect: "But in the Caribbean, we have been inflicted with such a profound condition of self-doubt that Guyanese refuse to believe that anything good can come out of Guyana. It is so difficult to shake this chronic lack of self-belief, that when the facts are presented, supported by compelling documented evidence, they say it cannot be true, it must be propaganda."

Maybe we can come out of this syndrome, especially with a dynamic leader who just turned 40, our resourceful President who is pulling us out of the doldrums.