Saturday, June 27, 2009

Guyana Government cannot account for BILLION$

What is happening in Guyana? Has the PPP Government literally robbed Guyana of billions of dollar$ per year? Can we petition the international agencies as Cheddie did to track these millions of US Dollars?

Look at the accounts of the Government for 2007. Billions of Guyanese dollars cannot be accounted for. Assume the minimum amount of US$100 million is unaccounted for (stolen) in 2007... now multiply that by the number of years PPP is in Government.

Who will help Guyana? Is this country now totally lost?

The Auditor General report for 2007 shows numerous deficiencies and DELIBERATE falsification of accounts.
- Grants received by the Government not recorded. Therefore there is no trace of where the monies have gone or whose bank account deposited into.
- Contingencies Fund abused to pay expenses that do not qualify for such funding.
- $3.1B were drawn from the Fund by way of 115 advances and as at 31 December 2007, sixty-four of these advances totaling $1.459B remained outstanding.
- PLUS over 600 million in liabilities still on the books – add 600m to the 1.459 billion = 2.1 BILLION DOLLARS.
- Understatements in other areas.
- Consolidated Fund overdrawn by 47 BILLION dollars.
- 42 Inactive bank accounts
- The 42 inactive accounts had overdrafts of 686 MILLION dollars
- BILLION of DOLLARS used by the Government in 2007 and cannot be accounted for

Worth repeating: BILLION DOLLARS cannot be accounted for – 100 MILLION US DOLLARS?

Isn't Minister Ashni Singh a qualified Accountant? Well done Ashni!

God help Guyana.

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