GEORGETOWN - Bankers are “bombarding” Guyana with offers of financing backed by future oil production, the finance minister told Reuters, but the South American nation is rejecting the proposals to avoid the excessive borrowing that has plagued other oil producers.
Winston Jordan, an economist and career public servant, also cited Guyana’s own history of economic crisis in the 1980s for turning down overtures to finance infrastructure and development before oil money started flowing. During the oil boom years, Venezuela borrowed more than $50 billion from China through loans that were repaid in oil shipments, a practice later replicated in Ecuador. The arrangements were criticized for lack of transparency.
Do not fall for the 51% trick that was played in Iran is my adivice.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Norway finance minister quits over IS woman's return from SyriaNorwegian Finance Minister Siv Jensen and her right-wing Progress Party will res... Let me guess, she is a conservative Isis affliated people must be imprisoned for life and such an ideology must be sanctioned and banned everywhere. The returnees (isis) must be drowned in the river and not be allowed in eu or western countries. Go back to arabia where you came from Better for the country that this racist xenophobe is out of their government. She represents a lot of what's wrong in this world, and certainly won't be missed.
Source: Reuters - 🏆 2. / 97 Read more »
Thai central bank to relax housing loan rules on Monday: Finance MinisterThailand's central bank will ease mortgage lending rules on Monday, Finance... GurayMollaoglu
Source: Reuters - 🏆 2. / 97 Read more »
Tunisian president chooses former finance minister to be PMThe former finance minister, Elyes Fakhfakh, has a month to form a coalition capable of winning a confidence vote in parliament by a simple majority.
Source: trtworld - 🏆 101. / 63 Read more »
Aramco IPO proceeds to fund Saudi industry, including defense: finance ministerSaudi Arabia will pump the proceeds from last month’s listing of oil giant Saudi Aramco into the local economy, including building up the domestic defense industry amid tensions with Iran, its finance minister said reutersdavos wef20 Every day oil is $60/bbl Saudi dips into reserves, to keep their country running. Looking back, oil has been under that threshold, a lot; but not as much as in the future. Taking Aramco public was a successful attempt to monetize future 'profits' in a failing legacy asset. I. Don't. Care. RussiaLeaveIran
Source: Reuters - 🏆 2. / 97 Read more »
Europe can lead the world in green finance, UBS chairman saysEurope has the chance to lead the world in developing capital markets for green finance, according to UBS Chairman Axel Weber.
Source: CNBC - 🏆 12. / 72 Read more »