The Economist Vs the Historian – Version 2.0

Dr. Peter R. Ramsaroop, MBA, (Economic Advisor to the Leader of the Opposition)

– Granger living as he is The History of the 80s.
In July 2015, I wrote the first version of this column, predicting that we will see a vast difference between the Economist of Dr. Jagdeo and the Old Soldier Historian –  Mr. Granger.  This was written in the first two months into his presidency:  Over the almost two years, we have witnessed the major decline and stagnation of our economy to a point where everyone is affected, from the poor, to the middle class to the business people.  Foreign investment has been scared away with concessions being taken away.  The Diaspora has been turned off from returning due to the changes of re-migrant concessions. The housing market has come to a halt.

This is a President with no vision, no strategy, and no short or long term goals. This is a Soldier Historian bent on living in the past with failed policies and no single accomplishments to date that he can call his own. The danger we had warned of, that was brewing, is now here.

The private sector businesses are seriously on a decline, consumer spending is done and discretionary dollars are limited, replaced by obnoxious parking meters, VAT on water and electricity, VAT on private education, 200+ new taxes, and a declining exchange rate, all happening at the same time simply because of failed 1980’s policies by the soldier historian.

Positive GDP Growth 10 Years in a Row Negative GDP Growth since 2015
Mixed Young Vibrant Cabinet 55+ and Older Cabinet
Built Modern State of Art Stadium Built Ugly Wooden Durban Park
Reduce the PNC Debt of over 2Billion from 1992 Running up the Debt to almost 1.4Billion in less than 2 Years
Modernise Plans for Airport Expansion Slows project – Finally has to complete
Built Berbice Bridge Painted State Buildings PNC Green
No Tax on Water and Electricity VAT 14% on Water and Electricity
Minimal Fees for Rice Farmers Raise Fees to 15000 per Acre
Minimal Fees for Cattle Farmers Raise Fees for Cattle Farmers
NO VAT on Private Education VAT on Private Education
Flat 16% VAT – Zero Rated Items VAT 14% BUT 200 New Taxes
Major Foreign Investments – Exxon, Gold Fields, Forest and Bauxite Etc. No New Foreign Investment in 2 years. Actually drop from 62% in 2015 to 10+%
Foreign Direct Investments 87Billion in 2013 Less than 19Billion of Foreign Direct Investment in 2016
Foreign Currency Readily available Shortage of Foreign Currency as in the 1980s
Sugar Production Stable Closing Sugar Estates
Growing Private Sector Jobs Loss of Jobs, GTT, Barama Etc.
No Parking Meters Corrupted Parking Meter Contract
High Investor Confidence No Investor Confidence
Sugar Workers Employed Sugar Workers out of jobs.
Establish Plans for Ethanol Factory at Albion Stopped a major Transformative project that would take us into new markets
Establish Sugar Packaging at Enmore Closed Sugar Packaging at Enmore
Pensioners with Subsidies on Water No Water Subsidies for Pensioners
Exchange Rate Stable for over a Decade Rapid rise in the Exchange Rate
Free Market Economics – Open, Free and Democratic Society Fear and Bully Approach – Stopping you at Airport, Raiding Businesses, SOCU arresting randomly – SARA Bill to terrorize us into submission.  Warning Soldiers to prepare
Left Funds for Major Projects, West Demerara Rd, Airport Expansion, By Pass Road Claiming as their own projects
Created a Rice Market with Venezuela Lost the Rice Market with Venezuela
Manufacturing 12.4% GDP Less than 5% of GDP 2017
Left money for Specialty Hospital Cancel the Specialty Hospital
Housing and Construction Sector Booming Declining Housing and Construction Sector

Mr. Granger came into the office as President of a nation that had seen a decade plus of positive GDP growth after the PPP inherited a failing infrastructure and huge debt.  Instead of Mr. Granger putting a Cabinet together that can help him due to his lack of experience to manage more than a magazine over the last 20+ years, he then hired the most incompetent Cabinet in the history of the country.

One just has to look at his official experience and would understand why our nation is in a mess.  He inherited a solid economy and is taking it to ruins. He never even made it to Chief of Staff of the Army; President Hoyte bypassed him and appointed Joe Singh as Chief of Staff, as he (Granger) lacked the leadership skills necessary to manage a large organization and instead made him National Security Advisor, a desk job.

Ever wonder why Durban Park was built?

It’s so Brigadier Granger can get the salute from the troops that as president he can finally claim he is finally Commander in Chief of the Army.

Source:  Wikipedia: Granger was appointed as National Security Advisor to the President in 1990 and retired from the military service in 1992.Granger founded the Guyana Review news magazine in 1992 and served as its Managing Editor. He has researched and published on military, historical and media themes, and is also the author of Guyana’s state media: the quest for control, and A Preliminary Study of Women Soldiers in the Anglophone Caribbean. David A. Granger spent the 1995–1996 academic year as a Hubert H. Humphrey/Fulbright Fellow at the Philip Merrill College of Journalism at the University of Maryland, College Park

Dr. Jagdeo has outlined an economic vision over the life of the 11th Parliament so far. Version 2.0 of the PPP Manifesto outlined the vision for our nation 2015 to 2020.  The PPP left a healthy economy and even if they just managed it, maybe we could have survived a few years. The Vision of the PPP to sign a deal with Exxon back in 1999 with the right concessions to encourage them to come and drill proved fruitful for our country.  Going back and revising agreements is not a good precedent for future foreign investments. Concessions are used to attract investors which a small country such as ours should   be able to use as incentives.  This is a tool in our foreign policy.  The Granger government seems not to understand basic economics.

Time for this historian to pack up and live in his own archaic economic history instead of remaining and failing the nation.