{"id":10638,"date":"2019-10-10T10:45:21","date_gmt":"2019-10-10T15:45:21","guid":{"rendered":"https:\/\/projectcalls.com\/dev?p=10638"},"modified":"2019-10-04T09:52:48","modified_gmt":"2019-10-04T14:52:48","slug":"imf-sees-governance-weaknesses-that-can-lead-to-corruption","status":"publish","type":"post","link":"https:\/\/projectcalls.com\/dev\/imf-sees-governance-weaknesses-that-can-lead-to-corruption\/","title":{"rendered":"IMF sees governance weaknesses that can lead to corruption"},"content":{"rendered":"<p>The International Monetary Fund (IMF) has highlighted gaps in Guyana\u2019s governance structure which it contends could lead to corruption.<\/p>\n<p>According to the Staff Report from its 2019 Article IV Mission, weakness in several key areas such as fiscal governance, regulatory framework, rule of law, and AML\/CFT could give rise to corruption vulnerabilities.<\/p>\n<div class=\"in-article\">\n<p>The staff noted that authorities have taken steps to strengthen governance in the areas highlighted, but capacity weaknesses continue to impact decisive implementation of policy actions.<\/p>\n<p>Specifically key governance institutions such as the Financial Intelligence Unit, National Procurement and Tender Administration Board, Public Procurement Commission and the Integrity Commission face significant capacity weaknesses with severe staff shortages, particularly legal and accounting expertise, the report highlighted.<\/p>\n<p>\u201cThis severely impacts the ability of the institutions to ensure compliance with existing regulations, conduct investigations including for politically exposed persons (PEPs) and implement additional actions to further strengthen governance systems to address corruption vulnerabilities,\u201d it stressed.<\/p>\n<p>Efforts by the authorities to strengthen governance, in the areas of anti-corruption and transparency in the extractive industry, and procurement were noted and commended.<\/p>\n<p>These commendations were premised on the submission of the Extractive Industries Transparency Initiative (EITI) Report in 2019 and the commencement of implementation of its recommendations to further enhance transparency in the extractive industry as well as the recent reestablishment of the Integrity Commission.<\/p>\n<div class=\"in-article\">\n<p>According to the IMF this reestablishment has reinvigorated compliance with the asset declaration regime.<\/p>\n<p>The report noted that staff have encouraged authorities to make the asset declarations public and develop the methodology for their verification.<\/p>\n<p>In public procurement, the staff welcomed the steps to enhance the transparency of the bidding process and awarding of contracts, but also encouraged the authorities to ensure timely compliance with existing regulations and take further actions to fortify the transparency of the procurement system.<\/p>\n<p>Repeated mention was made of the \u201cwelcome step\u201d embodied in the Natural Resources Fund (NRF) legislation but the report has recommended the legislation be expeditiously complemented with a fiscal responsibility framework to ensure that fiscal deficits are avoided.<\/p>\n<p>\u201cThe NRF framework commendably aims to save part of the natural resource income as net wealth for future generations. To ensure this and to keep public debt from rising, a zero-overall balance rule which constrains the annual non-oil deficit to not exceed the expected transfer from the NRF is needed. This rule could be phased in over the next three years to allow a smooth widening of the non-oil deficit (in relation to non-oil GDP),\u201d they advise.<\/p>\n<p>\u2026 <a href=\"https:\/\/www.stabroeknews.com\/2019\/09\/18\/news\/guyana\/imf-sees-governance-weaknesses-that-can-lead-to-corruption\/\" target=\"_blank\" rel=\"noopener noreferrer\">more\u00a0<\/a><\/p>\n<\/div>\n<\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>Image:\u00a0 Penn State (<a href=\"http:\/\/www.flickr.com\" target=\"_blank\" rel=\"noopener noreferrer\">flickr<\/a>)<\/em><\/p>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has highlighted gaps in Guyana\u2019s governance structure which it contends could lead to corruption. According to the Staff Report from its 2019 Article IV Mission,&#8230;<\/p>\n","protected":false},"author":19,"featured_media":3039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[112],"tags":[116,146,125],"class_list":["post-10638","post","type-post","status-publish","format-standard","has-post-thumbnail","category-newsdevelopments","tag-guyana","tag-procedures","tag-public-procurement"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/08\/PSU-Law-Gavel-Penn-State-flickr-e1699564513757.jpg?fit=1025%2C802&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6u9Qa-2LA","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":2688,"url":"https:\/\/projectcalls.com\/dev\/imf-encourages-guyana-to-improve-public-procurement\/","url_meta":{"origin":10638,"position":0},"title":"IMF Encourages Guyana to Improve Public Procurement","author":"Michele Marius","date":"August 1, 2017","format":false,"excerpt":"The International Monetary Fund (IMF) is encouraging the government to bring its procurement systems in line with international best practices so as to enhance the quality of public investment. The global body made this statement in its 2017 report on Guyana\u2019s economy. According to the IMF, enhancing the efficiency of\u2026","rel":"","context":"In &quot;News\/Developments&quot;","block_context":{"text":"News\/Developments","link":"https:\/\/projectcalls.com\/dev\/category\/newsdevelopments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/08\/Laptop-graphs-trend-Pixabay-pexels.jpeg?fit=640%2C432&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/08\/Laptop-graphs-trend-Pixabay-pexels.jpeg?fit=640%2C432&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/08\/Laptop-graphs-trend-Pixabay-pexels.jpeg?fit=640%2C432&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4887,"url":"https:\/\/projectcalls.com\/dev\/corruption-favouritism-and-racism-persist-in-the-public-procurement-process\/","url_meta":{"origin":10638,"position":1},"title":"Corruption, favouritism and racism persist in the public procurement process","author":"Michele Marius","date":"March 16, 2018","format":false,"excerpt":"Dear Editor, Despite the establishment of the Public Procurement Commission (PPC) in 2016, Guyana\u2019s procurement process is still infested with prejudice, inequality, unfairness, discrimination, nepotism and racism and, even worse, there is no proper mechanism to deal with appeals and complaints. Government and Opposition politicians are fully aware of this\u2026","rel":"","context":"In &quot;News\/Developments&quot;","block_context":{"text":"News\/Developments","link":"https:\/\/projectcalls.com\/dev\/category\/newsdevelopments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/lady-justice-Jessica45-Pixabay.jpg?fit=1024%2C767&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/lady-justice-Jessica45-Pixabay.jpg?fit=1024%2C767&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/lady-justice-Jessica45-Pixabay.jpg?fit=1024%2C767&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/lady-justice-Jessica45-Pixabay.jpg?fit=1024%2C767&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":36206,"url":"https:\/\/projectcalls.com\/dev\/jagdeo-again-warns-public-officials-against-influencing-contracts-for-family-friends\/","url_meta":{"origin":10638,"position":2},"title":"Jagdeo again warns public officials against influencing contracts for family, friends","author":"Mayra Bonilla Lopez","date":"September 12, 2024","format":false,"excerpt":"Guyana Vice President Dr. Bharrat Jagdeo reiterated on Thursday his call for public officials to comply fully with the country\u2019s Procurement Act and to avoid undermining the government\u2019s goal of ensuring a level playing field. Speaking to the media in his capacity as General Secretary of the governing party, Jagdeo\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Business-Office-Contract-Agreement-Deal-rawpixel-Pixabay.jpg?fit=1024%2C682&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Business-Office-Contract-Agreement-Deal-rawpixel-Pixabay.jpg?fit=1024%2C682&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Business-Office-Contract-Agreement-Deal-rawpixel-Pixabay.jpg?fit=1024%2C682&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Business-Office-Contract-Agreement-Deal-rawpixel-Pixabay.jpg?fit=1024%2C682&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":20656,"url":"https:\/\/projectcalls.com\/dev\/the-guardians-of-democracy-can-be-the-guardians-against-corruption\/","url_meta":{"origin":10638,"position":3},"title":"The guardians of democracy can be the guardians against corruption","author":"Mayra Bonilla Lopez","date":"February 10, 2022","format":false,"excerpt":"Guyana It is with great worry that, once again, the situation regarding Guy-ana\u2019s public procurement practices must once again be addressed and criticized. The entity in question is the National Procurement and Tender Administration Board (NPTAB), whose members are in charge of all public procurement in the country. Since this\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/05\/pexels-cqfavocat-613508-scaled-e1644524566827.jpg?fit=1025%2C684&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/05\/pexels-cqfavocat-613508-scaled-e1644524566827.jpg?fit=1025%2C684&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/05\/pexels-cqfavocat-613508-scaled-e1644524566827.jpg?fit=1025%2C684&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/05\/pexels-cqfavocat-613508-scaled-e1644524566827.jpg?fit=1025%2C684&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":37629,"url":"https:\/\/projectcalls.com\/dev\/we-have-tightened-up-the-system-enormously-to-improve-the-procurement-process-jagdeo\/","url_meta":{"origin":10638,"position":4},"title":"We have tightened up the system enormously to improve the procurement process\u2019 \u2013 Jagdeo","author":"Mayra Bonilla Lopez","date":"December 15, 2024","format":false,"excerpt":"Guyana Vice President Dr. Bharrat Jagdeo stated that the government is actively working to explain the rules and encourage full compliance with the Procurement Act nationwide. \u201cI\u2019m not saying that there are no problems with the procurement system. You\u2019ve heard us many times speak about this; about corruption in some\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/12\/pexels-joshuamiranda-4027658-scaled-e1734049712690.jpg?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/12\/pexels-joshuamiranda-4027658-scaled-e1734049712690.jpg?fit=1024%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/12\/pexels-joshuamiranda-4027658-scaled-e1734049712690.jpg?fit=1024%2C683&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/12\/pexels-joshuamiranda-4027658-scaled-e1734049712690.jpg?fit=1024%2C683&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":30927,"url":"https:\/\/projectcalls.com\/dev\/opposition-eyes-legal-action-against-government-over-shady-procurement-contracts\/","url_meta":{"origin":10638,"position":5},"title":"Opposition eyes legal action against Government over \u201cshady\u201d procurement contracts","author":"Mayra Bonilla Lopez","date":"November 9, 2023","format":false,"excerpt":"Guyana The recent award of a $865M contract to construct a Pump Station at Belle Vue, West Bank Demerara, has once again called into question the criteria used by National Tender Board in awarding such large contracts. Opposition Member of Parliament, David Patterson has already written to the Public Procurement\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/08\/Contract-agreement-signature-Pixabay-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/08\/Contract-agreement-signature-Pixabay-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/08\/Contract-agreement-signature-Pixabay-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/08\/Contract-agreement-signature-Pixabay-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/10638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/comments?post=10638"}],"version-history":[{"count":2,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/10638\/revisions"}],"predecessor-version":[{"id":10642,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/10638\/revisions\/10642"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/media\/3039"}],"wp:attachment":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/media?parent=10638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/categories?post=10638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/tags?post=10638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}