Thursday, March 19, 2009

Ram, Ramsaroop, not Peter Ram is singing

Christopher Ram and another Ram...Peter Ramsaroop have all had gloomy predictions of the current situation regarding the Clico crisis and have been extremely critical of the Government's handing of the situation. Government has tried too long to cover up its failings. minister Dr. Ashni Singh has been too quite and lacks the leadership this crisis so deserves. Below are some notable events leading up to yesterday's firing of several Clico employees.

In Early February President Jagdeo, at a press conference, announced that Government was monitoring the domestic situation closely. He also indicated the existence of short-term risk through potential mismatches in the maturity of the company's assets and liabilities that could arise in the event of significant changes its overseas investments.

SN February 26:

“We want to ensure that people here, their interests are protected so we are watching this closely,” Jagdeo declared on February 5th. The President said he had looked at Clico (Guyana’s) liquidity position as well as its assets and liabilities.

On March 12

The National Assembly unanimously supported President Jagdeo’s guarantee to CLICO Guyana policyholders.

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