IDB approves $28 million loan to Guyana
Friday, June 11, 2004
WASHINGTON, USA (UPI): The Inter-American
Development Bank Wednesday approved a $28 million loan to Guyana to help the
country manage its public finances. Specifically, the money will be used to
educate Guyanese authorities on increasing the efficiency of the tax system
and improve public expenditure management.
First, however, the money will be used to
establish a modern legislative framework for fiscal and financial management,
with guidance from the IDB. The funds will also be used to modernize the
Guyana Revenue Authority. "The program
reflects the IDB strategy of assisting Guyana in maintaining a sound
macroeconomic framework and modernizing the state," the bank said in a
statement.
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