President Dr. Mohamed Irfaan Ali’s recent remarks urging Guyanese citizens to build wealth from a $100,000 (approximately $500 USD) cash grant have sparked outrage, and rightfully so. His suggestion to “pool resources” and transform these funds into business ventures is not only tone-deaf but also blatantly insulting to the hardworking citizens of Guyana. While the president doles out billion-dollar contracts to cronies and shell companies, ordinary Guyanese are being told to bootstrap their way out of poverty with what amounts to spare change in today’s economy.
Let’s be clear: $100,000 in today’s Guyana doesn’t stretch far. For many, it barely covers basic monthly expenses, let alone serves as capital for a transformative business venture. The cost of living has skyrocketed, with inflation affecting everything from food to transportation. A “short drop” taxi ride now costs as much as $3,000, and basic commodities are increasingly out of reach for the average citizen. To suggest that this meager sum could catalyze wealth creation is either a gross misunderstanding of economic realities or an outright dismissal of them.
While citizens are advised to tighten their belts and get entrepreneurial with their crumbs, billions flow freely into the hands of government-connected elites. Contracts for infrastructure projects, oil deals, and other lucrative ventures are handed out with little to no transparency, benefiting a small circle of allies while the rest of the nation struggles to make ends meet. If the government truly believes in empowering citizens, why are the vast oil revenues and other national resources not being distributed equitably?
President Ali’s rhetoric about the “comprehensive, holistic impact” of pooling resources would be laughable if it weren’t so offensive. The reality is that many Guyanese families are already pooling their meager earnings just to survive. Asking them to turn $100,000 into a sustainable business is akin to asking them to build castles out of sand. This approach does nothing to address the systemic issues of income inequality, corruption, and a lack of opportunities for the average citizen.
It is telling that Guyana’s economic stability increasingly relies on remittances from its diaspora. In 2023 alone, Guyanese abroad sent home $549 million USD, a 44% increase over four years. These funds are not a testament to economic growth at home but rather a lifeline for families struggling under the weight of poor governance and misplaced priorities. The diaspora should not have to shoulder the burden of sustaining a nation that is ostensibly in an oil boom.
If President Ali is serious about empowering citizens, he must start with transparency and equitable wealth distribution. This means using oil revenues to invest in higher wages, improved quality education for all, quality public healthcare, infrastructure, and job creation—not just grandiose speeches and token handouts. It’s time for the government to stop treating Guyanese citizens as afterthoughts and start prioritizing their well-being.