Voice of Guyana International

Rickey Singh – Jamaica Observer

GEORGETOWN - Guyana’s President Bharrat Jagdeo has been selected as the 2005/2006 chairman of the boards of governors of the World Bank Group and International Monetary Fund.

This is the first time that a head of state and government of the Caribbean region has been so recognised by the two Bretton Woods institutions, which concluded their latest rounds of annual meetings last week in Washington, United States.

“President Jagdeo’s wide respect among finance and development officials is one of the main reasons for the choice of his candidacy,” said the official statement from the World Bank Group.

Among the guidelines for selecting the chairman for the new year that ends in 2006, are that his country should be in “good standing in the World Bank Group and the IMF in terms of cooperation, participation and its financial relations and have no overdue financial obligations”.

The 41 year-old Jagdeo, who is also the chairman of the Caribbean Development Bank (CDB), served as finance minister under the late President Cheddi Jagan.

He assumed the presidency in August 1999 when Janet Jagan demited office on grounds of ill health, and was elected, in his own right as executive president at the 2001 general election..

A recent public opinion poll forecasts his likely return to office for a second term, which under the Guyana constitution will be his last, should the incumbent People’s Progressive Party/Civic win the scheduled March 2006 parliamentary and presidential elections.

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