Guyana’s first report since becoming a member of the Extractive Industries Transparency Initiative (EITI) has highlighted that there are a number of loopholes in the data management systems of government agencies which subsequently made it difficult to collect accurate and comprehensive information on the extractive industries.
But Natural Resources Minister, Raphael Trotman, said that these “loopholes” need to be seen “contextually.”
At a press conference this morning at the GY-EITI Secretariat on Main Street, Trotman said it is not that the systems are bad at agencies, such as the Guyana Gold Board and the Guyana Geology and Mines Commission (GGMC). Instead, he said that they may not be suited for the level of reporting that is needed for EITI and, as such, adjustments would have to be made.
Responding to questions from the media on this matter, Minister Trotman said, “This is why we need this report because, for the most part, we operate in silos and, for the most part, we believe that the systems we have are good and working. When you start to bring the pieces together, you being to realise that the systems being used for x number of years is not best suited for [the EITI reporting process].”
Minister Trotman added, “Let us not see this in the context of bad or good but contextually as we move into the EITI format for reporting and gathering of information. The report helps us to identify gaps and where reforms are necessary. It is not that the systems are bad. They need to be [adjusted] to cater for the reporting format that is required.”
In his opening statement this morning, the Minister further stated that the report connects dots and points the way forward for better management through greater transparency in the extractive sector. He commented that this is the main focus for the government in this process.
He said, “Particularly, it points the way for an improved investment climate; how to assist in strengthening licensing, record keeping and tax collection systems and legal and fiscal frameworks, and how to improve reforms and governance as well as promoting greater economic and political stability.”
For companies, Trotman said that the report shows how to mitigate political and reputation risks as well as creating a level playing field in countries of operation and transparency of payments made to a country.
As for civil society, the Minister said that the report allows for more information on what is happening in the extractive sector so as to be able to hold government accountable.
He noted that the report has been shared with Cabinet and posted on the Ministry of Natural Resources’ website as well as the website of GY-EITI.
