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Saturday, January 16, 2021

Sovereign Investment Committee to aid in O&G revenue management

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The Government of Guyana is looking to establish a Sovereign Investment Committee which will be responsible for advising the Minister of Finance on investing Oil and Gas (O&G) revenues. 

This was outlined in the Green Paper for the Natural Resources Fund  (NRF) which was laid in the National Assembly by Minister of Finance Winston Jordan on Wednesday,  August 8, 2018.

According to the paper, the Committee would consist of seven members, including a representative of the Minister of Finance. The other members include two ex-officio members – one nominated by Minister of Natural Resources Raphael Trotman and the other by the Governor or the Bank of Guyana. The other three representatives will be nominated by the Institute of Chartered Accountants, the Guyana Association of Bankers and the Leader of the Opposition, while the Senior Investment Adviser and Analyst will be recruited via international tender. 

This Analyst will be responsible for assisting the Minister in drafting the investment mandate, and monitoring the Fund. 

“Members of the Committee would be persons with substantial experience, training and expertise in financial investments and financial portfolio management,” the Green Paper stated.

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