THURSDAY 29th September, 2022
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VAT INCLUSIVE
No.106860
IMF: Relief measures commendable
— cushion burden of high commodity prices, says bank in latest report
THE International Monetary Fund (IMF) has commended the Government of Guyana for implementing effective polices to cushion the burden of high global commodity prices. In a report documenting the conclusions of its Article IV Consultation with local authorities,
the IMF said: “Staff broadly supported the authorities’ measures to temporarily ease the burden of higher global commodity prices on the most vulnerable groups of society, given the absence of adequate safety nets.” Aside from sectorspecific measures, the
GECOM reiterates that it is not a court of law 11 PAGE
government, since being elected to office in 2020, has introduced several measures to put more disposable income in the pockets of Guyanese. From the onset, Value Added Tax (VAT) was removed from water and electricity, a burdensome measure placed on the backs
of Guyanese by the former coalition administration. There has also been the constant increase in oldage pension and public assistance which, as it is, in one year, put $2.3 billion and $432 million into the pockets of Guyanese. Additionally, the PPP/C
Government reinstated the “Because We Care” cash grant and school uniform cash grant which stand at $30,000 per child in both public and private schools. Every household in the hinterland will receive a $25,000 one-off cash grant, fisherfolk have started receiving a one-
off $150,000 grant, farmers would receive $1 billion in fertiliser support, and there are many other initiatives geared at addressing the issue of rising cost of living induced by the COVID-19 pandemic and the war in Ukraine. (More on page 3)
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