Saturday, March 27, 2010

Nepotism and abuse of state funds

(According to News Center of MoneyControl) Caricom heading for bankruptcy, says Guyana President

It would appear, according to Jagdeo, that Caricom is heading for bankruptcy. Well, he has to know what he is talking about as he is clearly bent on putting Guyana in the same position.

In a previous article we positioned Jagdeo's intent on his fiber optic cable that should see the successful completion of the Queens Atlantic data center and IT center. This blog has learnt that after the fall-out of the Norwegian US$30 million deal, Jagdeo has vowed that he will build his cable with local funds.

However, no one has seen the feasibility study of Jagdeo's cable and its total cost to Guyana. What is becoming more real than apparent is the sidling off of state funds to complete the
resident's Pet Projects, a PPP - which will continue long into the PPP's next election victory.

While the data project seems noble, this blog will be proven by the test of time for the use of Jadgeo for e-governance. We predict that the cable will be completed, will be used by the Bees (the Bees will form the management committee) - all achieved by abusing Guyana's national treasury for meeting personal financial goals.

Meanwhile, the abuse of state funds will continue. More Presidential Pet Projects will be done by state funding and the 2011 elections will see the national reserves at an all time low of 300 million (which incidentally will be 200m more than what the PNC had). Donald will boast about the 300m as being a better performance than the PNC.

Before year end, the sale of state assets will ensure the rebuilding of the reserves.
So, the Bees will have be laughing all the way to the bank - with my money!

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