GMSA to host ‘Green Paper’ discussion on Sovereign Wealth Fund

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The Guyana Manufacturing and Services Association (GMSA) has reviewed the Green Paper “Managing Future Petroleum Revenues and Establishment of a Fiscal Rule and a Sovereign Wealth Fund” which was presented to the Parliament on August 9th 2018 and also made public.

The GMSA recognized the importance of a Sovereign Wealth Fund (SWF) as a key mechanism to manage revenues from extractive industries, and in particular, oil and gas. The design, establishment and implementation of the SWF is therefore a key national issue.

In this regard, the GMSA plans to convene a Discussion Forum on the Green Paper which is scheduled for Thursday 13th September, 2018 at the Guyana Pegasus from 8:30h – 12:00h.

The format for the Discussion Forum will involve a representative of the Ministry of Finance making a presentation of the Green Paper (no more than 15 minutes) and which would be followed by a Panel Discussion and interactive session with the audience. We envisage that the discussion with cover issues such as the guiding principles for a SWF; how the SWF should be utilized and mechanisms for doing so; governance mechanisms, and oversight and management of the SWF and the role of civil society and the private sector. Members of the panel will include Mr. Nigel Hinds, Mr. Ramesh Persaud, Mr. Christopher Ram, Ms. Carol Webster and Mr. Lincoln Lewis. Mr. Ramesh Dookhoo will be moderating the forum.

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