As Guyana prepares to transition to a new Government, people are demanding to know where has all the money gone that was transferred to the outgoing Granger Government in May 2015.
From the graph below one would see that since the No-Confidence Vote that has caused the Granger Government to fall, the stock of cash assigned to honouring Government cheques has moved from minus G$55 billion to minus G$92 billion.
The IMF cautioned the Granger Government on the size of this outstanding balance at the Central Bank in their 2018 Staff Report.
Unfortunately, the inaction in settling this matter on the part of the Granger Government has resulted in a new debt being forced on to the books of the incoming Government totaling some US$460 million.
With the incoming Government expected to put policies in place to inject new business confidence into the economy and deal with the burning issue of youth unemployment, which is running as high as approximately 35% at the end of 2019 (based on a preliminary survey), this unnecessary debt has placed a tremendous burden on every single Guyanese especially the 65% who are under the age of 35.
