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– PNCThe government has been able to obtain debt write-offs totaling some US$847 million and the savings made from these debt write-offs are expected to be invested in the social sectors,Los Angeles Dodgers Mike Piazza Jersey, such as education and health.In this regard,NBA Store, People’s National Congress Reform (PNC/R) member,LeBron James Team USA Jersey, Amna Ally, said that the “Jagdeo Administration has not to this day informed the Guyanese nation how much of the savings from the debt write-offs have been invested in these sectors.“It must do so because the monies belong to the people of Guyana and not to President Jagdeo and his cronies.”She explained that a change in the policies of the multilateral financial institutions has enabled the Jagdeo Administration to obtain the debt write-offs, the largest being from the IDB of approximately US$347M.However,Mookie Betts Red Sox Jersey, she admitted that at the time that the PNC was in Government,Diego Polenta Uruguay Jersey, multilateral debt was neither rescheduled nor written off. She said that this changed with the interventions of non-governmental organisations such as OXFAM and Jubilee 2000.It was noted that the PNC built up some US$2.1B in debt, over a period of 28 years, mainly as a result of the accumulation of interest, while in 17 years, the PPP Governments have accumulated some US$833.7 million in debt.According to Ally,New York Mets Nolan Ryan Jersey, the external debt grew by 16 per cent in 2008.“If the Jagdeo Administration continues racking up debt at this rate, it will surpass that contracted by the PNC in less than 28 years,Javier Baez Cubs Jersey,” Ally said. |
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