Govt’s ‘mad man approach’ to borrowing must end - Norton

(Kaieteur News) – Guyana’s Natural Resource Fund (NRF) will experience heavier inflows of oil money as ExxonMobil has recovered its investments in Guyana. The new revenue stream for the country should shape a robust economic blueprint for the country that ensures the resources are used in a manner that supports development and protects future generations from the weight of heavy borrowing.

This is according to leader of the People’s National Congress Reform (PNC/R), Aubrey Norton. During a recent media conference, he explained that there are certain circumstances that would allow borrowing, however, government’s “madman” approach is unsustainable.

Norton said, “There might be times when borrowing is more economically viable than using your own resources but this government’s approach of borrowing like if they head ain’t good makes no sense. It’s a mad man approach to development.”