Former Minister of Energy and Energy Affairs in Trinidad and Tobago Kevin Ramnarine is of the view that the eyes of the international investment community are on Guyana given the events that unfolded in the South American country’s legislature on Friday December 21, 2018.
Following the debate on a No-Confidence motion tabled by Leader of the Opposition Bharrat Jagdeo, one member on the Government side, Charrandass Persaud of the Alliance for Change, voted in favour of the motion effectively bringing the tenure of the government to an end. As per the constitution of Guyana, the Government must resign and elections called within three months. Early election is likely to have an impact on the current trajectory that the country is on with regards to oil and gas preparations.
“The events of [Friday] in the Guyanese National Assembly have been felt regionally and internationally. It is clear that Parliamentary democracy and rule of law are very much alive in Guyana. Given the massive oil discoveries since 2015, the eyes of the international investment community will, more than ever, be on Guyana’s elections,” said Ramnarine, who served under Prime Minister Kamla Persad-Bissessar.
The former minister who has visited Guyana numerous times and frequently comments on Guyana’s preparations for the oil sector, added, “Only recently, for example, it was reported that Guyana was the country that discovered the most conventional oil in 2019. It is hoped that Guyana will emerge stronger from this experience as there is a lot of work to be done to prepare the country for the oil industry.”