The Great Sell-Off: How State Assets Were Transferred Into Private Hands Under Jagdeo

When Bharrat Jagdeo became President of Guyana in August 1999, the State controlled a substantial portfolio of companies, land, factories, shares and other commercial assets accumulated over decades.

By the end of his presidency in December 2011, many of those assets had been sold, leased, restructured or otherwise transferred to private interests.

The transactions formed part of Guyana’s broader privatisation programme, which began before Jagdeo took office. The Privatisation Policy Framework was established in the 1990s, and the Privatisation Unit was tasked with implementing the programme, negotiating sales and making recommendations to Cabinet.