Guyana Oil Wealth
Guyana, a small South American nation with a population of over 800,000 people, experienced a significant oil boom that transformed it into the world’s fastest-growing economy. The President of Guyana, Irfaan Ali, has announced that every Guyanese citizen aged 18 and older as of January 1, 2024, will receive a $100,000 cash grant. The President also announced that in addition to abolishing the tuition fees for the University of Guyana from January 2025, the Government will also be abolishing the tuition fees at all Government technical and vocational schools.
Angela Brooks for YAME
President of Guyana, Irfaan Ali
Has announced that every Guyanese citizen aged 18 and older as of January 1, 2024, will receive a $100,000 cash grant
Guyana is at a crossroads in its history —a small South American nation with a population of over 800,000 people, experienced a significant oil and gas boom that transformed it into the world’s fastest-growing economy.
With its 11.6 billion barrels of oil reserves and plans to boost production to 1.3 million barrels per day by 2027, Guyana ranks among the top non-OPEC+ producers poised to drive global supply growth.
“As a responsible Government, as a Government that understands that we have a responsibility that all feel included and part of the system, it is important that we build a system that is robust in delivering this grant and the simplest and most verifiable way is the $100,000 for every Guyanese 18 and above with the qualifying date of the 1st January 2024, that is achieving the age of 18 at the 1st January 2024”, President Ali reiterated. Instead of the one-off cash grant of $200,000 for every household as previously announced.
The simple means of verification is the possession of a national valid identification card, a Guyanese birth certificate, and/or a valid Guyanese passport.
The President also announced that in addition to abolishing the tuition fees for the University of Guyana from January 2025, the Government will also be abolishing the tuition fees at all Government technical and vocational schools.
The decision has found favor with many Guyana citizens, based on the responses on social media.
Empowering Guyanese. When citizens elect someone responsible who cares about them.
Greater financial empowerment for households: The policy represents a progressive step forward by recognizing the unique financial needs of Guyanese individuals, ensuring that each person has the financial flexibility to address their personal needs.
This policy respects individuals and also provides support for senior citizens and vulnerable groups.
The new policy ensures that elderly individuals living on fixed incomes or relying on pensions will receive the $100,000 cash grant, providing much-needed financial relief. This additional income can help cover essential costs such as medical expenses, utilities, and groceries, offering our senior citizens more comfort and security in their daily lives.
This action exemplifies the President's unwavering commitment to building a thriving and just Guyana, ensuring that everyone has the opportunity to succeed and contribute to the nation's overall economic growth.
The announcement by President Dr. Irfaan Ali during a special sitting of Parliament, marked his second address to Parliament since taking office. The cash grant is part of a series of measures that the President says will form a blueprint to propel Guyana forward and safeguard the quality of life. All public sector workers will earn no less than $100,000 GYD monthly by the end of 2025. Additionally, food security is a priority for Guyana's government, and efforts are underway to create a digital economy for the country.
Angela Brooks for YAME
New Caribbean Ferry to Connect Guyana, Barbados and Trinidad
Customs and Immigration officials from Guyana, Barbados, and Trinidad have already agreed that most systems were already in place and can be adjusted to accommodate the [ferry] service,’ according to a statement from CARICOM. The ferry, the product of a partnership between Guyana, Trinidad, and Barbados, will transport both passengers and containers, according to Guyanese officials.
Caribbean Journal Staff
March 5, 2024
The ferry would connect Barbados, Guyana and Trinidad
The ferry, the product of a partnership between Guyana, Trinidad and Barbados, will transport both passengers and containers, according to Guyanese officials.
A landmark new ferry service connecting three Caribbean destinations is anticipated to launch in the next few months. This, according to Guyana's President, Dr. Mohamed Irfan Ali.
The ferry, the product of a partnership between Guyana, Trinidad, and Barbados, will transport both passengers and containers, according to Guyanese officials.
“In another two, or three months that ferry will begin operations, and we are hoping that this will instill confidence in the private sector,” Ali said.
Customs and Immigration officials from Guyana, Barbados, and Trinidad have already agreed that most systems were already in place and can be adjusted to accommodate the [ferry] service, according to a statement from CARICOM.
The Sea Breeze Beach House, is one of the top all-inclusive resorts in Barbados
The initial service will be operated on the Galleons Passage ship (photo above), which has a capacity for about 400 passengers.
Timeframes for the service have not yet been released; the Guyana-Trinidad trip would likely require nearly a day’s sailing.
But the service may not stop at just the edge of the southern Caribbean.
While ferry services tend to be very popular, particularly with travelers, their broader use in the region has been limited only to certain regions: the US And British Virgin Islands; the greater St Maarten area (with islands like Anguilla, Saba, Statia, St Barth and St Kitts); and Eastern Caribbean islands like Martinique, Saint Lucia, Guadeloupe, and Dominica.
Talks have already begun on setting up a common regional ferry service within the Caribbean Community (CARICOM).
That could be a major game-changer for intra-regional transportation.
In the meantime, a company called Connect Caribe is also looking to set up a pan-Caribbean ferry service.