$100K: A recipe for spiralling inflation 

There was much cacophony among the PPP kleptocrats, about this $100K cash grant, they have afforded the long-suffering masses. But even as they celebrate, we the informed do recall, it was 2018, when Prof Clive Thomas first proposed said cash grants, which the very PPP dismissed as economically imprudent. Since as argued by PPP, the prevalent socioeconomic deprived masses, not used to the US$5000 the esteemed professor was proposing, will consume it in wasteful alcohol and drugs. However, cash grants, not dissimilar to cash transfers, distributed in many oil and non-oil economies, demonstrate no such evidence of widespread recipients’ misuse, as PPP erroneously proffered.

But even as PPP now demonstrate a belated enthusiasm for said cash grants, the evidence is, such an impetus was generated through the determined lobbying of both the APNU+AFC and GTUC. In fact, this PPP, for reasons discriminatory, was more inclined on limiting the oil monies, to their kleptocratic class. Having said that, while PPP boast of this $100K cash grant, the fact is, this might not have been the most opportune time for their distribution, considering the country is experiencing an inflation rate of 3.40%.

In fact, a basic understanding of economics would inform, infusing of tens of billions into a small open economy that is in inflation, will result in increase demand for goods, which would lead to an accompanying increase in prices and ultimately spiralling inflation. Thus, it’s for this reason this column would argue, the $100K is not meant to be beneficial to the poor masses with spiralling prices, rather it’s meant to satisfy the wealthy business class, who are counted among PPP friends, families, and favourites.

Having said that, PPP will not allow the acute dangers of a spiralling inflation, to be obstructive to their politics, or satisfying their business class friends, families, and favourites. And it’s for this very reason, PPP is distributing these $100K cash grants, at a time of least economic benefit to the long-suffering masses, even as the kleptocratic business class are at ready to profiteer. In fact, even as PPP has allocated an unknown amount for the cash grant programme, we are also in the dark as to whom it will be distributed, since the most recent 2022 census, made classified by PPP, is yet to be released.

And it’s for this reason, this column has fervently argued, that having an unspecified adult population, along with an unknown cash grant budgetary allocation, is effectively providing PPP with a blank cheque, a fertile ground for their corruption. In fact, even as we grapple with the many unknowns in this cash grant programme, we are forced to confront this most lingering of question, on whom in the adult population is eligible for this cash grant. For this we must certainly recall, the recent illegal influx of Venezuelan migrants, afforded citizenship under this PPP, may be benefiting from our taxpayers’ monies, all in a PPP grand scheme of preemptive electoral bribes.

Thus, it’s of these potential areas for illegalities, which can be both politically and economically exploited, that this column argues for the allocation and distribution of cash grants, to be undertaken by an independent apolitical body. In fact, this column would further propose, the independent apolitical body should comprise a multi-disciplinary team of independent experts, who can establish a legal, social, and economic framework, to underpin the allocation and distribution of these cash grants. For this we are confident, cash grants management left in the corrupt hands of the PPP, would result in benefits to only their kleptocratic friends, families, and favourites, even as we, the long-suffering masses, are left with spiralling inflationary prices in 2025 and beyond.