Impact of Increased Cost of Living in Guyana
April 17, 2008
Bharrat Jagdeo refuses to admit that Guyana is below poverty line and the causes for this decline are: mismanagement of funds, bad policies, inflation, corruption, drugs and crimes. Wages and salaries are weakened gravely behind inflation and thus the currency is devalued more and more each day while wages remains the same.
The rising cost of commodities and basic supplies have brought immense hardship to the people in Guyana; 80% of who survive do so on less than 5 USD a day. This amount could buy 1 lb chicken, 1 lb flour, 1pt oil and 3eggs for an entire day. The question is, how can people afford to pay their bills, transportation fees, and clothing etc if their salary is not enough to buy basic food? In 2007 a bottle cooking gas cost $2700 GYD or 13.50 USD; in 2008 it costs $4000 GYD or 20 USD. Where will we get the money? The basic prices for rice, flour, beans, sugar, milk and fruits have risen by more than 30% within the last year in Guyana. A little slice of fish is selling for $500 GYD or 2.50 USD. People cannot afford to buy fish and hardly chicken; a common fisherman/ breadwinner cannot maintain his family no longer and many more families are facing similar situation.
Those who are employed in blue color jobs are simply living in a state of destitution and thus, are incapable of buying basic food. The effect of it is that families will be left breadless in their homes because of the inability of the breadwinner to even buy minimum quantity for his family. So while the world look on at Haiti’s crisis – Guyanese are living in fear because they know it’s their turn next. Who is going to help whom? Hopefully, Bharrat Jagdeo will come to his senses soon and call on international aid to supplement the imminent shortcomings faced by Guyanese.
The Currency devaluations impacted most unfavorably against consumers and producers in Guyana. The prevailing inflation drastically reduces the quality of life and more than 60% of Guyana’s population lives below poverty line. The average income has fallen by 50%; unemployment has doubled to 40%.
The production of sugar, rice and bauxite contributed almost half of Guyana’s foreign exchange earnings and employing 40% of the labor force. Unfortunately, creditors, mismanagement and heavy taxation have caused Guyanese to experience serious production crisis. Sugar and rice production has dropped to such an extent that the Government of Guyana is importing more goods and services from other countries, which is cheaper for domestic consumption. The drop in production failed to meet its export quotas for markets in the European Economic Community and the United States.
How can we survive in Guyana? What are we going to do? With energy on upward climb, poor countries like Guyana will feel the heat of the fire in many ways. We are already living on basics. Can we handle more?
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5 Responses to “Impact of Increased Cost of Living in Guyana”
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People hardly seem to care what is going on in Guyana and other countries because they are not in those situations yet.
i think if we work together as a nation and fight crime we make guyana a better place. it takes the power of one, one person can make a difference for everyone
Simone, how can one person make a difference when most Guyanese are corrupted? What ways do you think can help this fallen nation? Cost of living increased and salaries decreased-so how will the poor survive? Does anyone care about Guyanese,if so what are they doing to help the current situation?
Corruption is always the problem. It would be the problem is the United States or any one else steps in with money. Corrupt ed officials take the money and it never gets to where it should be. Only the people can change that by taking action. You strike in the sugar field is a good start.
I have been living in the USA close t o half-a-century, and have been looking forward to spending my retirement years back in the old country. What the government has been over looking or perhaps lost sight of is the infusion of cash flow into the economy by retirees overseas pensions into the bank monthly. If government set up a retirement complex, example homes, etc like other caribbean countries, they will be taking in millions which in turn can be re invested in eco-producing ventures. Guyana is a blessed nation, it has land, warer, rain and sun. Spread the people out on the land teach them to farm and grow their own food, and all the complaining will stop. I think the problem with my country men/women are they watch the American media, and are just focusing on duplication of that fantacy . I lived on the east bank before i left home, worked in georgetown and on weekends i was in my farm planting crops and raising poultry. i lived within my means to improve my means.