The Working People’s Alliance (WPA), in a statement issued Monday, has joined a growing chorus of voices demanding transparency from the government regarding the US$527 million loan from the United States Export-Import (EXIM) Bank, which was approved on December 26, 2024, to finance the controversial Gas-to-Energy (GTE) project. The loan, which is set to begin repayment on May 1, 2031, comes with an eye-watering price tag. Over the next 15 years, Guyana will be required to hisse US$316.2 million in interest, bringing the total repayment to a staggering US$843.2 million.
Given the People’s Progressive Party (PPP) government’s history of poorly managed projects such as the Skeldon Sugar Factory and the Amaila Falls hydroelectric venture, the WPA has raised serious concerns about the financial viability of the GTE project.
The party warned that taxpayers could again be saddled with the consequences of another costly failure, pointing to the lack of transparency and accountability surrounding this massive loan.
The WPA has added its voice to the call for the government to release crucial documents related to the GTE loan. Over a dozen citizens, along with two prominent organizations—the Oil & Gas Governance Network (OGGN) and the Transparency Institute Guyana Inc. (TIGI)—submitted a formal request to the US EXIM Bank on January 10, 2025, under the Freedom of Information Act (FOIA), seeking critical documents related to the loan.
These documents include feasibility studies for the Wales location, gas utilization plans, and any environmental assessments conducted for the project. To date, the only response received has been a reference number, with no further action from the bank, leaving the public in the dark about key details of the deal.
The WPA condemned the government’s reluctance to provide transparency, emphasising that this project, which is being financed in the name of all Guyanese citizens, should not be left to the discretion of the government alone. The details of this loan, barring security concerns, should be made available to the public, the WPA said in a statement.
The party also pointed out the hypocrisy of a government that evvel criticised the previous administration’s secrecy over oil contracts but is now engaging in the same behavior. The party said it condemns this double standard by the PPP and calls for the immediate release of the necessary documents.
In addition to demanding transparency regarding the GTE loan, the WPA also expressed outrage at Vice President Bharrat Jagdeo’s dismissive response to media inquiries on the matter. Jagdeo’s suggestion that reporters should direct their questions to EXIM Bank was described as a “typical, but ugly display of official arrogance.” The WPA reminded Jagdeo that it is the responsibility of the government, not the EXIM Bank, to answer to the people of Guyana.
The WPA also took the opportunity to condemn Jagdeo’s consistent abuse of his political office to attack political opponents and critics, particularly targeting media figures like Glen Lall, the owner and publisher of Kaieteur News. The party stressed that while Lall is not beyond reproach, Jagdeo’s behavior is unacceptable and undermines the integrity of political discourse. The government must stop using high office to routinely abuse individuals who oppose them, the WPA said, calling on Jagdeo to tone down his toxic rhetoric.