Govt signs another loan agreement

first_imgFinance Minister Winston Jordan and World Bank Country Director for the Caribbean, Tahseen Khan…to provide technical assistance to oil & gas sectorThe Government of Guyana has inked another loan agreement, this time with the World Bank, which will be providing funds and support for Guyana to build its framework for overseeing the oil and gas sector.According to a statement from the Finance Ministry, the loan agreement was signed by Finance Minister Winston Jordan on Thursday with World Bank Country Director for the Caribbean, Tahseen Khan.“Minister Jordan noted the timely nature of the loan agreement as it sought to provide much-needed technical assistance to the emerging oil and gas sector,” the statement observed, adding that the money would build human resource capacity and strengthen institutional frameworks in the oil and gas sector.“Ms Khan said that the loan agreement will aid in building the capacity of key institutions, such as the Department of Energy, the Environmental Protection Agency and the Ministry of Finance, for prudent management of the oil revenues.”Jordan was accompanied by Governor of the Bank of Guyana, Dr Gobind Ganga, Guyana’s Ambassador to USA Dr Riyad Insanally and Jason Fields from the Embassy of Guyana.Last year, a total of $333.2 million in capital funds was allocated by the Government for petroleum and energy management. The 2019 Budget estimates also detailed that current expenditure.This amount, among other things, which will go towards employment and other recurrent costs was $90.9 million. Specifically, wages and salaries were expected to cost the Treasury $20.5 million.With little over a year to go before first oil, Government has been criticised for the slow pace of preparation. For instance, critical measures like a national oil spill strategy; a constitutional agency to regulate the sector; a national oil company, a local content policy and a Sovereign Wealth Fund are either still in the planning stages or have only been discussed.This does not include several worrying fiscal indicators which have caused audit firm Ram and McRae to project reduced earnings from first oil for Guyana if these trends are allowed to continue.One such trend is the Government’s fiscal deficit, a case where monies are sourced more from loans than from revenue. According to the firm in its Budget Focus, Guyana risks less money going towards the Natural Resources Fund and more going towards making up for the deficit.When it comes to debt, it was only in February that Government announced it had signed two new loans with the Inter-American Development Bank (IDB), totalling US$31 million; monies that Government said will go towards areas of trade and energy.This was revealed by Minister of State Joseph Harmon during a press conference. Harmon revealed that Finance Minister Jordan signed the agreements on February 11.Part of the monies includes financing for a single window trade system which is meant to simplify transactions. Monies will also go towards improving service from the Guyana Power and Light (GPL) and other energy-related expenses.As of 2017, Guyana had a total public debt of $344.9 billion. According to the 2017 edition of the Public Debt Annual Report, this was an increase of 4.4 per cent in one year.Even though Guyana’s indebtedness to external creditors has increased, so has debt servicing (repayments). According to the Bank of Guyana Quarterly Report and Statistical Bulletin released last year, repayment of external debt grew by some US$24.3 million to US$85.3 million. This is a rate of 59.1 per cent when compared to the corresponding period of 2017.last_img read more

TORY’S INAUGURAL WALK FOR IRISH GUIDE DOGS FOR THE BLIND A HUGE SUCCESS

first_imgThe Tory Island walkers who helped raise vital fund for the irish Guide Dogs for the Blind!Last Saturday the Tory Island 10k walk raised €1,650 for Irish Guide Dogs for the Blind.Well known Tory resident Jimmy Doohan with wife Theresa and his loyal guide dog.Walk organisor, Bernie McNulty, one of the islands public health nurses was delighted with the turn out.More than 100 people undertook the walk with more than 30 of those walking visiting the island for the first time. It is now planned to make this an annual event.Congratulations to everyone who took part in what turned out to be a great occasion in terrific weather conditions.TORY’S INAUGURAL WALK FOR IRISH GUIDE DOGS FOR THE BLIND A HUGE SUCCESS was last modified: August 13th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:10KIrish Guide Dogs for the BlindTory IslandWALKlast_img read more

2018 Ohio State Fair Junior Market Beef photo highlights

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Zachary Retcher, Defiance Co., circles with his MarketHeifer. Tristin Miller, VanWert Co., watches as judge Brandon Callis looks over his Market Heifer. Tatum Poff, Geauga Co., works with her Market Heifer in the ring. Mallory Peter, Defiance Co., leads her ShorthornPlus. Logan Schroeder, Defiance Co. sets up his ShorthornPlus Market Beef. Grant Belleville, Wood Co., works with his Simmental Market Beef. Holden LeVan, Champaign Co., keeps his AOB set for the judge. Hunter Harris, Adams Co.,watches the judge with his Simmental Market Beef. Kassidy Thompson, Miami Co. had the Champion ShorthornPlus. Layne Lasnick from Lake Co., leads her AOB Market Beef. Avery McGuire, Champaign Co., shows his Crossbred Market Beef. Christina Winter, Pickaway Co., watches the judge with her Crossbred. Kaden Frey, Wyandot Co., sets up his Crossbred. Lewis Winner, Pickaway Co., won his Crossbred class. Tyler Neill, Huron Co., leads his Crossbred. The judge selects the champion. Champion Drive Brady Turnes, Perry Co. gets his steer ready for the judge. Caden Jones in the Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drive Champion Drivelast_img read more

Why Is The iPad Mini $329? Because It Is

first_imgWhy IoT Apps are Eating Device Interfaces But Amazon’s Kindle Fire thing is half the price! But the Nexus 7 is way cheaper!So?Apple is going to sell out of its Christmas 2012 supply of iPad minis no matter how much it costs — $329, $200, whatever. Why leave money on the table? If it can sell 100% of its iPad mini supply for more than $329, why bother selling any to people who would only buy it for less than $329? (Also, this helps preserve Apple’s margins.)Then, next year, Apple can launch the retina-display iPad mini at the current (or similar) price, and slice $100 off the non-retina model. The same way Apple continues to sell the iPad 2 for $399 and the iPhone 4S for $99 — $100 off their current-year-model prices. (Perhaps the 2013 prices will vary, depending on what Amazon and/or Google, etc. are charging then.)Either way, it’s a sure sellout this year and a good story to tell next year. Smart.This article originally appeared onSplatF with Dan Frommer. Tags:#Apple#iPad#iPad mini#iPad mini#mobile Related Posts Role of Mobile App Analytics In-App Engagementcenter_img dan frommer What it Takes to Build a Highly Secure FinTech … The Rise and Rise of Mobile Payment Technologylast_img read more