Jagdeo flags critics seeking to ‘undermine’ $100,000 cash grant initiative

Many critics are seeking to undermine the government’s $100,000 cash grant initiative, according to Guyanese Vice President Dr. Bharrat Jagdeo.

Despite those criticisms, the Vice President said the government firmly believes that the venture will support citizens and vowed that transparent registration and distribution processes will unfold.

“This fear of the payout, the panic over the payout, is triggering a whole range of public commentary coming from their (the opposition’s) quarters now trying to undermine the initiative.

“It is that ‘oh, oil money is not transparently spent.’ That is the way they can seek to undermine this cash grant initiative,” Jagdeo lamented at his weekly press conference on Thursday.

Among the criticisms, he said, is that the payout will worsen inflation. Jagdeo also related that there are some of believe this transfer of funds shows a “failure of leadership” and poor management of the country’s oil wealth.

Jagdeo knocked each of those concerns.

“It’s leadership that’s responsive to the needs of the people of this country. It is going to result in the people of this country getting over $60 billion more,” the Vice President emphasised.

Responding to criticisms of the Natural Resource Fund (NRF), the fund in which Guyana’s oil wealth is saved, Dr. Jagdeo posited that there are much better legal checks and balances in place now to guarantee transparency in the management of the nation’s wealth.

He also stressed that a rigorous registration and verification exercise is ongoing so that no one can label the process as “flawed.”

It was also explained previously that the government is confident that the distribution will not heighten inflation as the economy can easily absorb the funds.

As he continued to defend the cash grant venture, Jagdeo contended that good governance is about responding to the needs of people and not just attempting to match international benchmarks or ratios.