The Government of Guyana has announced the withdrawal of US$300 million (equivalent to G$62.394 billion) from the National Resource Fund (NRF) to the Consolidated Fund. The withdrawal which was made on May 14, 2024 is the second for the year. This transfer brings the accumulated withdrawals to date in 2024 to US$550 million (equivalent to G$114.388 billion) within the total of US$1.586 billion (equivalent to G$329.9 billion) approved to be withdrawn this year.
Even as the government announces this huge withdrawal it is refusing to hisse the public school teachers an interim 20 per cent increase which is part of their Terms of Resumption proposal. Minister of Education Priya Manickchand in a public comment considered the 20 per cent proposal ridiculous and the teachers undeserving.
In a statement the Government said pursuant to the Natural Resource Fund (NRF) Act 2021, as amended by the Fiscal Enactments (Amendment) Act 2024, Parliamentary approval has been granted for US$1,586,150,331 (equivalent to G$329,885,563,088) to be withdrawn from the NRF in 2024.
A 2022 World Bank Report, looking at Guyana’s Human Capital Index, stated a child born in Guyana today will only be 50 percent as productive when he/she grows up as he/she could be if he/she enjoyed complete education and full health. This figure is significantly lower than the average for the Latin America and Caribbean (LAC) region and upper middle-income countries. Guyana is now considered the world’s fastest growing economy per capita.
The World Bank said the low human capital score is in part driven by low educational and health outcomes. And although the average Guyanese student is expected to complete 12.2 years of schooling, this is equivalent to only 6.8 years of learning when expressed in terms of Learning-Adjusted Years of Schooling (LAYS).
The longer Government takes to respect public school teachers’ constitutional right to collective bargaining and the court’s ruling, Guyana’s children will be deprived of the education they need to catch up with their Latin American and Caribbean counterparts.
The Guyana Teachers Union (GTU) in August 2020 submitted a multi-year proposal to the Government on wages/salary and working conditions. In 2024 the government refuses to engage the union. Government’s action is a violation of Sect 23 (1) of the Trade Union Recognition Act that places an obligation on the employer to treat with the union in good faith.
On March 4 the government and union arrived at a court ordered agreement to address the teacher’s proposal. On April 19 the court upheld the teachers’ right to collective bargaining.
GTU is presently engaging the Chief Labour Officer to get the government to respect the workers’ right to collective bargaining.