Minister of Finance Ashni Singh of Guyana

Dr Singh is a true and tried academic who I know is doing an honourable and respectable job as Minister.

Related articlesDr Ashni Singh has the wherewithal to fill President Jagdeo’s shoes Dear Editor, I wish to applaud B.

Ashni Singh said Guyana welcomes discussing options to further integrate the economy within the global financial system, as the country moves from dependency on foreign aid to social and economic success fuelled by a dynamic private sector that is competitive in the global market-place.

Ashni Singh expressed the hope that discussions would lead to a greater understanding of the impact of sovereign ratings on the economy of a country.

Minister Singh said this conclusion is similar to that of a US Department of State and United Nations Development Programme (UNDP) project in partnership with Standard Poors, which rated 10 African countries between 2003 and 2006 and revealed a rating of B or better for those countries.

Minister Singh expressed gratitude to the Government and people of Venezuela for providing the opportunity to bring closure to this outstanding debt issue and informed the Ambassador that as a result of this gesture, Venezuela would become the fourth Non-Paris Club creditor to provide Guyana with a 100 percent debt write-off the others being China, India and Cuba.

According to the Minister, Singh has assured him that whenever there is a problem with the 911 lines, the Police notifies the company and the fault is rectified immediately.

MINISTRY OF FINANCE PRESS RELEASEThe Minister of Finance, Dr.

Singh said the other piece of legislation is on e-commerce (electronic commerce) and e-transaction (electronic transaction), similarly with the intention of establishing a legal framework to facilitate the growth of this particular activity.

Minister of Finance Ashni Singh has described 2008 as a roller coaster year in that there were many ups and downs which had an adverse impact on the local economy during the fist six months of the year.

Singh said that these developments brought with them a number of challenges, particularly to countries such as Guyana and explained that it is a very small and open economy and as such developments in global markets, particularly global price developments feed through into the local economy very rapidly.

Notwithstanding the external challenges in the first half of the year, Singh said that Government was able to maintain a remarkable level of stability.

Singh said that they also had to keep an eye on a number of other developments to ensure that prices were contained; that there continued to be exchange rate stability and that there was not significant deterioration in the fiscal deficit.

Noting that Guyanas financial system is not overly integrated with the global financial markets, Singh said that while the country has not suffered a lot of direct exposures, there are indirect channels.

Guyana can be affected by how the prices of export commodities evolve, Minister Singh said and explained that a lot of local commodities are exported, including bauxite and rice.

Notwithstanding those developments and having compared and contrasted the performance of the first and latter half of 2008, Minister Singh said that the economy continues to grow at a rate it grew by over the last two years.

In this context, Singh said that climate change is an issue of major macroeconomic implications, both in terms of the effect that climate change can have on the economy particularly the productive sectors of the economy and in terms of the fiscal implications of a response to climate change.

Finance Minister Dr Ashni Singh said the funds will be disbursed through the budget support mechanism, a mode of delivery that is only effected in countries that have achieved a certain level of progress with regard to their institutional environment.

GEORGETOWN, Guyana (GINA): Minister of Finance Dr Ashni Singh has welcomed Wednesday's approval by the Executive Board of the Inter-American Development Bank (IDB) of a US$15 million Financial Sector Reform Programme for Guyana.

Singh described the programme as very timely given the current level of attention being paid globally to financial sector supervision and to issues of soundness and stability of the financial sector in most jurisdictions worldwide.

January 14th, 20090More Crime & Law Sports NewsJohnson throwing his support behind SinghNow that incumbent Chetram Singh has publicly announced that he is seeking re-election as President.

Singh was not only the Budget Director in the Ministry of Finance and should therefore have been concerned about the legislation’s potential revenue impact, but he was also a member of the board of the GRA as a nominee of the Ministry of Finance and in that capacity too should have perused the legislation both for impact and flaws.

the local economy during the fist six months of the year.

into the local economy very rapidly.

essentially have necessitated, possibly another tariff increase.

significant deterioration in the fiscal deficit.

donations made by countries and individuals.

In referring to the US$3M in revenue that was described in certain sections in the media as lost revenue, Minister Singh said the sugar company has given a very clear explanation that they anticipated that during the course of the testing phase, the level of expectation would not be what is considered normal and the sum is not a new discovery of an additional loss that has been made, it was already anticipated by the company.

Referring to reports that the company’s loss of US $3 M in revenue has been described as ‘irrelevant’ by the company, Minister Singh said it is very irresponsible for this statement to isolated and manipulated since the company needs to be given a chance to conduct tests and take the necessary actions to address the issues that emerge during testing so that the factory can be brought into operation.

Singh said this was as a result of continued efforts by the Government to diversify the economy and strengthen traditional sectors to modernise them with appropriate interventions to facilitate growth in emerging sectors.

Ashni Singh met members of the Private Sector Commission (PSC) on Wednesday last.

Ashni Singh said that preparations for the 2009 budget are ongoing and focus will be on maintaining macroeconomic stability.

Given the difficult global economic circumstances prevailing and especially the importance of maintaining stability in such an environment, Minister Singh said that, “we are going to certainly see a continued emphasis on macroeconomic stability and on sustained growth.

Board of Governors of the Inter-American Investment Corporation.

Minister Singh said the meeting will be used to consider the performance of the Bank and to provide guidance on its future direction.

Minister Singh expressed appreciation for Canada's role over the years as a founding member and large shareholder of the Bank and as a genuine partner in the development of the Caribbean region.

Ashni Singh turned the symbolic sod at a simple ceremony witnessed by officials of Republic Bank and representatives of the private sector.

In the context of the Caribbean Single Market and Economy (CSME), Singh said the project is an example of intra-regional investment which is one of the benefits of the integration process.

Minister of Finance Dr Ashni Singh met last Friday with the Bankers Association of Guyana and updated members on several issues including the anti-money laundering bill that is under consideration in the Parliamentary Sub-Committee.

Minister of Finance Ashni Singh said that, with effect from last Thursday, gasoline is expected to be retailed at GY$555 (US $2.

Singh says these new prices, when compared to the prices that obtained prior to the October reductions; represent a 43 percent decline in gasoline prices, a 30 percent decline in diesel prices, and a 47 percent decline in kerosene prices.