MCC - Guyana

Guyana's Development Assistance Grant Agreement (DAGA)

Fri, 10 Jul 2009 17:10:00 UT

Guyana's Development Assistance Grant Agreement (DAGA) (5.6 MB)

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Quarterly Status Report: Guyana

Tue, 30 Jun 2009 19:23:36 UT

Quarterly Status Report: Guyana (186 KB)

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Guyana

Wed, 13 May 2009 20:33:47 UT

MCC’s two-year, $6.7 million Threshold Program with Guyana seeks to improve Guyana’s performance on MCC’s Fiscal Policy indicator. Specifically, the grant will help the Government of Guyana implement its new value-added tax (VAT) system and develop ways to assist and educate taxpayers, while at the same time helping the government better plan and control spending. Additionally, the grant will help reduce the number of days and costs associated with starting a business by modernizing and streamlining the business registration process.

Program Components

Assist in Reforming Guyana’s Tax Structure:

Strengthen tax administration by preparing a taxpayer assistance program and developing filing, payment and audit systems;
Support implementation of the country’s new VAT structure by providing technical assistance to the Guyana Revenue Authority and supporting the ongoing VAT education campaign;
Provide training and technical assistance to the Ministry of Finance and the Guyana Revenue Authority to develop the capacity to conduct tax policy and forecasting analysis;
Strengthen customs controls in order to reduce import and export tax evasion and reduce corruption in customs operations;
Develop systems within the Guyana Revenue Authority to deter tax evasion.

Control Government Spending:

Improve the capacity of the Ministry of Finance to conduct expenditure policy and planning within a macro-economic framework;
Increase transparency and improve efficiency in the public procurement process.

Increase Parliament’s Fiduciary Oversight:

Strengthen parliamentary fiduciary oversight committees by providing training to key staff and assisting with the introduction of reforms;
Enhance capacity of the Committees’ Secretariat through staff training and modernization of research facilities.
Reduce the Number of Days and Cost Associated with Starting a Business:
Modernize business registration systems;
Establish a one-stop business registration system.

Highlights of Expected Results of the Program:

Achieve a VAT compliance ratio (actual receipts to potential receipts) of 82 percent.
Reduce the number days for customs clearance by 50 percent.
Decrease the average number of days to register a business from 46 to 30.

Implementing Partner:

The United States Agency for International Development will oversee implementation of the program on behalf of MCC.

Guyana was named eligible for MCC Threshold Program assistance on November 8, 2005.

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MCC Working with Guyana to Develop and Implement Sound Fiscal Policies

Thu, 23 Aug 2007 19:35:00 UT

Fact Sheet: MCC Working with Guyana to Develop and Implement Sound Fiscal Policies (232 KB)

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Guyana Signs $6.7 Million Millennium Challenge Corporation Grant to Support Fiscal Reforms

Thu, 23 Aug 2007 16:30:00 UT

Georgetown, Guyana – Millennium Challenge Corporation (MCC) Deputy CEO Rodney Bent and Guyanese President Bharrat Jagdeo today officiated at the signing of an MCC Threshold Program agreement between the United States and Guyana. The two-year $6.7 million program focuses on reducing Guyana’s fiscal deficit by improving its ability to collect revenue and better manage its budget. Additionally, the program will help reduce the number of days and cost to start a business by streamlining business registrations. Guyanese Minister of Finance Dr. Ashni Singh and USAID Mission Director Dr. Fenton Sands signed the agreement.

“Congratulations to the people and government of Guyana for their commitment to economic reform,” said MCC Deputy CEO Rodney Bent. “Guyana’s threshold program will help overhaul fiscal policies and create a more business-friendly environment. We look forward to working with the people of Guyana as they implement this ambitious program.Mr. Bent added, “I would like to thank our colleagues at USAID and the U.S. Embassy in Guyana, led by Chargé d’affaires Michael Thomas, for their work in making this program possible.”

MCC’s Threshold Program is designed to assist countries that are on the “threshold” of eligibility for Millennium Challenge Account Compacts. Threshold Program assistance is used to help countries address the specific policy weaknesses indicated by the country’s scores on 16 policy indicators in three categories—Ruling Justly, Investing in People, and Encouraging Economic Freedom. These policy indicators are central to the criteria and methodology for Compact eligibility and are products of respected international institutions and national data. Each indicator was selected based on its relationship to growth and poverty reduction, the number of countries it covers, its transparency and availability, its analytical rigor, and its objectivity.

The assistance package for the Government of Guyana is focused on improving the country’s performance on the Economic Freedom indicator.

MCC’s Threshold Program assistance approved to date totals approximately $332 million in fifteen countries: Burkina Faso, Malawi, Tanzania, Albania, Paraguay, Zambia, Philippines, Ukraine, Jordan, Indonesia, Moldova, Kenya, Uganda, Guyana and Kyrgyz Republic.

The U.S. Agency for International Development will oversee implementation of the program on behalf of MCC. More details about the program’s components and expected results can be found at www.mcc.gov.

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Millennium Challenge Corporation, a U.S. government corporation designed to work with some of the poorest countries in the world, is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and elimination of extreme poverty.

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MCC Board Approves Grant To Support Fiscal Reforms in Guyana

Wed, 27 Jun 2007 21:30:00 UT

Fact Sheet

Guyana (PDF)

Washington, D.C. — The Board of Directors of the Millennium Challenge Corporation today approved Threshold Program funding to help the Government of Guyana reduce its fiscal deficit by improving its ability to collect revenue and better manage its budget. In addition, MCC is helping Guyana develop a more favorable environment for businesses.

MCC’s Threshold Program is designed to assist countries that are on the “threshold” of eligibility for larger grant assistance known as “Compact” and have demonstrated a significant commitment to improving their MCC indicators.

MCC’s roughly $6.7 million grant will help Guyana improve its fiscal policies and create a more business-friendly environment. Specifically, the grant will help the Government of Guyana implement its new value-added tax system and develop ways to assist and educate taxpayers, while at the same time helping the government better plan and control spending. The grant will also help reduce the number of days and costs associated with starting a business by modernizing and streamlining the process to register businesses.

“The Government of Guyana has made a commitment to revamp its tax policies as well as reduce the cost and number of days it takes to start a business,” said Ambassador John Danilovich, Chief Executive Officer of the MCC. “We at MCC are pleased to help Guyana create an environment which will reduce impediments to economic growth and perhaps move it into Compact-eligible status.”

The U.S. Agency for International Development will oversee implementation of this Threshold program on behalf of MCC.

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Millennium Challenge Corporation is a U.S. government corporation designed to work with some of the poorest countries in the world, is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and elimination of extreme poverty.

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Millennium Challenge Corporation Board Names Fiscal Year 2006 Threshold Countries

Tue, 08 Nov 2005 20:55:00 UT

November 8, 2005

Washington, D.C. – Today, the Board of Directors of the Millennium Challenge Corporation (MCC) selected a total of 13 countries to participate in the Threshold Program for fiscal year 2006. The Threshold Program is designed to assist countries that do not qualify but are close and are committed to undertaking the reforms necessary to improve policy performance that may eventually help them qualify for Millennium Challenge Account (MCA) Compact assistance.

The Board selected 13 countries to participate in the Threshold Program: Guyana, Indonesia, Jordan, Kenya, Kyrgyz Republic, Malawi, Moldova, Paraguay, Philippines, São Tomé and Principe, Ukraine, Uganda, and Zambia.

Since its establishment last year, MCC has signed Compacts with five nations, Madagascar, Honduras, Cape Verde, Nicaragua, and Georgia, totaling over $900 million. MCC is also actively engaging with other MCA-eligible countries in Compact negotiations and currently expects to sign three more within the next few months. Under the fiscal year 2005 Threshold Program, MCC has committed nearly $13 million to help improve girls' primary education in Burkina Faso and almost $21 million to help Malawians fight corruption. Additional threshold plans are in the final stages of completion and are expected to be received by MCC within the next few months.

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Millennium Challenge Corporation (MCC), a U.S. government corporation designed to work with some of the poorest countries in the world, is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and elimination of extreme poverty.

See all content associated with Guyana, Indonesia, Jordan, Kenya, Kyrgyz Republic, Malawi, Moldova, Paraguay, Philippines, Sao Tome and Principe, Uganda, Ukraine, Zambia

Press Release: Millennium Challenge Corporation Names Fiscal Year 2005 Eligible Countries

Mon, 08 Nov 2004 16:45:00 UT

Press Release: Millennium Challenge Corporation Names Fiscal Year 2005 Eligible Countries (131 KB)

See all content associated with Armenia, Benin, Bolivia, Burkina Faso, Georgia, Ghana, Guyana, Honduras, Lesotho, Madagascar, Malawi, Mali, Mongolia, Morocco, Mozambique, Nicaragua, Paraguay, Philippines, Senegal, Sri Lanka, Vanuatu, Zambia