Guyana Is Bleeding Money Under The PPP
Apr 08, 2025
Dear Editor,
Recent disclosures on the receipt of revenues from Guyana’s oil (KN; April 05/25) show that Guyana received US$605.5 million, inclusive of US$84.1 million in royalty payments. These payments relate to the last quarter of 2024 and the first quarter of 2025. However, the PPP’s disregard for the nation’s call for renegotiating continues to cost Guyanese billions of US dollars annually.
The DNC’s calculations show that based on royalty payments of US$84.2 million, Guyana had to forego a total of US$256.6 million (G$53.4 billion), comprising US$130.3 million in foregone income taxes and US$126.2 million in royalty payments based on a renegotiated 5 per cent royalty rate. These amounts will very likely exceed US$1.2 billion by year’s end, while the PPP continues to punish Guyana’s poor and financially insufficient families with often inadequate, squalor conditions in many homes and communities, with poor water supply and woefully inadequate sanitary facilities. Many have been living in these conditions going back to the early 1900s.
The Democratic National Congress continues to urge our people to work to a common political solution this year. It is unacceptable that our poor, our children, should punish under the slavish and unyielding yoke of a PPP administration which it seems is now afraid of losing and taken to bullying on the national stage. We were made to understand that the PPP have a very big bribe to offer us. Let us not give up our treasure chest for the PPP’s pennies, or if possible take our money and still vote for a new government. Some countries and communities have put up animals, even inanimate objects as candidates (https://en.wikipedia.org/wiki/Non-human_electoral_candidate). We can do better.
Yours Faithfully,
Craig Sylvester
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