Dr. Jeffrey Takes Aim at Guyana’s Oil Wealth and Persistent Poverty

Political scientist and former People’s Progressive Party (PPP) government minister Dr. Henry Jeffrey is questioning why Guyana’s unprecedented oil wealth has not translated into a more direct and sustainable improvement in the economic circumstances of ordinary citizens.

Writing in his September 27 Future Notes column published by Village Voice News, Jeffrey contrasts Guyana’s approach to oil wealth with Suriname’s proposed “Royalties for Everyone” programme, arguing that Guyana should have been moving toward a system that gives citizens a permanent stake in the country’s natural-resource revenues.

Jeffrey pointed to a proposal announced by former Surinamese President Chandrikapersad Santokhi under which every Surinamese citizen would receive an annual US$750 savings note, earning 7 percent interest. He said the initiative was intended to turn oil wealth into tangible benefits while encouraging civic and economic participation and the creation of generational wealth.