Jagdeo against full ministerial control of Natural Resources Fund

first_imgDays after the Government laid the Green Paper in the National Assembly, Opposition Leader Bharrat Jagdeo raised concerns over the total control of the Natural Resources Fund by the Finance Ministry.The Green Paper sets out preliminary plans on how the Government hopes to manage the revenue from oil and other natural resources, with clear objectives of the Natural Resources Fund.A drill shop offshore GuyanaJagdeo reminded that he had initial objections to Government’s plans for the Fund but now that the Green Paper has been made public, he finds the plans to be even more worrying.The document states that the Finance Ministry will be responsible for the overall management of the Fund, including requested withdrawals in the annual budget proposal.“…calculating the Fiscally Sustainable Amount; drafting the Investment Mandate; entering into the Operational Agreement with the Bank of Guyana and drafting the annual report and reporting on the Fund through the annual budget,” the document said.As such, Jagdeo said he disagrees with the Minister’s total control for various reasons, but zeroed in on Jordan’s silence on the signing bonus from ExxonMobil. “This is the same Minister who lied to the country about the US$18 million signing bonus, saying that Guyana never received it and never asked for it. He lied to Guyanese for over a year. And it is the same Minister who will now have full control.”Meanwhile, in the document, it sets out specific rules, including the Fiscal Rule, which caters for the development gaps, both in terms of human capital and physical infrastructure, that exist and the need to accommodate development spending via the National budget.To oversee these decisions, the Government has recommended the establishment of a macroeconomic committee which would consist of five members, including a representative of the Finance Minister.In terms of the management of the fund, a sovereign investment committee would be responsible for advising the Minister on the investment mandate but would also include a representative.Further, the Green Paper states that the Bank of Guyana (BoG) will be the operational manager of the Fund. The Opposition Leader has already expressed deep concern about this proposal.Although the Government has catered for a representative from the Opposition to sit on the Fund, Jagdeo has already objected to this proposal stating that politicians should not be included.“We don’t want politicians… we, ourselves, to manage this money. This Fund has to be independently, technically managed … not by politicians again and stored at the Central Bank. We have a problem with that model. It departs radically from best practices, like Norway and the other countries,” he had stated.Further, Jagdeo also criticised the Government for peddling a political assessment of the oil and gas sector. “The real substantive matters are still not being addressed,” he said, while noting that Finance Minister Winston Jordan has been engaged in a lot of fluff talks with members of the public on this matter.Referring to Jordan’s recent comments, the Opposition Leader noted that while the Minister promised billboards to announce the inflow of oil monies, he recalled that it was he who denied that ExxonMobil paid a US$18 million signing bonus to Guyana for over a year and a half.“The truth was finally exposed after a document was leaked to the media… People will see through this game of the APNU/AFC. They talk about oil and gas, but it is not realistic what they are saying… they are painting a rosy picture: that oil will solve everything. This is not so,” he added.Jagdeo also rubbished Jordan’s statement which sought to create the impression that hotels and flights were filled and this was a direct indication that things would improve in the economy. “What about the economy that is falling apart?” he queried, while noting that 30,000 persons have lost jobs since the coalition took office.Now that the Green Paper has been laid, it paves the way for the proposed legislation on the Sovereign Wealth Fund to be laid in the National Assembly which looks at addressing two main issues: stability of the economy and saving for future generations. Advice was sought from international agencies.last_img read more

DONEGAL SFC: DUNGLOE EDGE OUT KILLYBEGS TO BOOK THEIR PLACE IN QUARTER-FINALS

first_imgTony Boyle will be delighted his side topped their group and advanced to the last eight of the Donegal SFC.Dungloe advanced to the last eight of the Donegal SFC following a hard fought win over Killybegs at Rosses Park, earlier this afternoon. In truth Dungloe squandered a number of golden goal chances which would’ve ensured a comfortable victory, but they found Killybegs goalkeeper Anthony O’Hara in inspired form.Dungloe started the game brightly and scores from Adrian Sweeney and Doalty Boyle helped settle the home side. Brendan McGuire was in fine form from placed balls and scored four frees in the first-half.Adrian Hanlon and Sweeney pointed for Dungloe to send Tony Boyle’s side ahead by two at the break.Half-time score Dungloe 0-06 Killybegs 0-04The second-half was a nervy and scrappy affair, but it was Dungloe who dominated possession. They had a couple of great chances to put the game to bed, but were once again denied by a combination of poor finishing and excellent goalkeeping.Dungloe added scores from Adrian Sweeney and Shaun Sharkey to keep their noses in front.Killybegs battled gamely in search of the elusive goal they required to advance, but Dungloe stood firm to book their place in the last eight.Tony Boyle’s side topped the group and will meet either St Michael’s, St Eunan’s or Ardara in the next round of the Donegal SFC. DONEGAL SFC: DUNGLOE EDGE OUT KILLYBEGS TO BOOK THEIR PLACE IN QUARTER-FINALS was last modified: October 12th, 2014 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Donegal SFCdungloeGAAKillybegsnewsSportlast_img read more

COUNCIL SEEKS INFORMATION ON DAMAGE CAUSED TO DONEGAL’S ARCHEOLOGICAL SITES

first_imgArchaeological monuments at coastal locations such as those at Kilbarron Castle near Ballyshannon are particularly vulnerable during strong winds and high tides.Recent storms and coastal erosion may have caused damage to County Donegal’s archaeological heritage. The National Monuments Service of the Department of Arts, Heritage & the Gaeltacht is interested in hearing of any damage to archaeological monuments in County Donegal as a result of recent storms and high tides.“Some of our archaeological monuments in coastal locations are particularly vulnerable during storm conditions,” explained Joseph Gallagher, County Donegal Heritage Officer. “The recent combination of strong winds and high tides may have accelerated coastal erosion in the vicinity of archaeological monuments, undermined them, caused collapse or even uncovered archaeological structures or objects.“The National Monument Service of the Department of Arts, Heritage & the Gaeltacht is the statutory organisation charged with ensuring the protection of our archaeological heritage and is keen to hear of any recent damage caused to our archaeological monuments.”As of September 2013, there were 3,396 known archaeological monuments in County Donegal and most of them are in private ownership.Most of these archaeological monuments date from prior to 1700 and all are protected under the National Monuments Acts (1930-2004). Archaeological monuments in coastal locations in County Donegal include promontory forts, castles, tower houses, historic graveyards and holy wells. If you would like to find out what archaeological monuments are on your property, are in your guardianship or are in your area, you can search by townland, town or type of monument on the National Monuments Service website at: www.archaeology.ie Some of these are also identified on the Ordnance Survey Discovery Series maps.If you have any information on damage to archaeological monuments in County Donegal, please contact the County Donegal Heritage Office on (074) 917 2576 / heritage@donegalcoco.ie or the Donegal County Museum on (074) 912 4613 / museum@donegalcoco.ie with details as soon as possible.This information will be passed on to the National Monuments Service of the Department of Arts, Heritage & the Gaeltacht. If you would like to find out more about our archaeological heritage, a free brochure entitled ‘Earthen Banks and Broken Walls: our legacy of ancient monuments’ produced by the Department of Arts, Heritage & the Gaeltacht outlining some of the main types of archaeological monuments is available free-of-charge from the County Donegal Heritage Office, Donegal County Council on (074) 917 2576 or by e-mail at: heritage@donegalcoco.ie COUNCIL SEEKS INFORMATION ON DAMAGE CAUSED TO DONEGAL’S ARCHEOLOGICAL SITES was last modified: February 4th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

ESPNcom

first_imgESPN.com Comments   Share   The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires When it comes to the Arizona Cardinals, confidence is not at an all-time high.For just the second time in two seasons under head coach Bruce Arians, the Cardinals have dropped two straight games — the second coming Sunday in a 29-18 loss to the Atlanta Falcons. The Cardinals still own the No. 1 seed in the NFC playoff pecking order with four games to play, but their sputtering offense coupled with a lackluster defensive effort in Atlanta has many experts moving Arizona from contender to pretender. Here’s this week’s look at the Cardinals’ place in various NFL power rankings from around the country.center_img Week 14 Average Rank: 7.37 (4.05 last week) Highest Rank: #4 – CBSSports.com Top Stories Lowest Rank: #13 – Washington Post Grace expects Greinke trade to have emotional impactlast_img read more