By Mark DaCosta-From all indications, the average Guyanese no longer pays any attention to the People’s Progressive Party (PPP) regime’s frequent announcements of new oil discoveries. By many accounts, citizens usually tune out, and change the TV channel whenever Vice President Bharrat Jagdeo shows up to excitedly tell the people that more billions of dollars will be coming into Guyana.
Two things are understandable.
First, it is clear why people tune out. After all, ordinary Guyanese have been hearing about the billions of dollars coming into Guyana, and yet, nothing has changed. Some 49 percent of Guyanese still live in poverty, with 14.5 percent of people being out of work.
Second, the reason that the Vice President usually appears to be so happy and excited is clear. With all the billions and billions of dollars pouring into Guyana, but none of it going to poor people, would anyone like to take a wild guess at where all billions are going? Of course Jagdeo is excited.
For the majority of Guyanese, remittances from family and friends living overseas is the key to survival. Remittances – which literally means, “money that is sent back” – is often the only way for poor people to eat and keep a roof over their heads.
About Guyana, the World Bank says that, “Poverty rates are highest in the sparsely populated interior or hinterland, where communities have limited access to economic opportunities, healthcare and public services. The country experiences high emigration and brain drain, with 39 percent of all Guyanese citizens currently residing abroad and roughly half of all Guyanese with a tertiary education having emigrated to the United States.”
In Guyana, according to the World Bank, some US$310 million in remittances, officially, comes into the country every year. The agency points out, though, that the actual figure is much higher because a lot of money comes in through informal channels, that is, other than through, for example, Western Union and MoneyGram.
The international community recognises the importance of remittances to poor families in developing countries. As such, today, June 6, has been designated, International Day of Family Remittances (IDFD). The theme of the 2023 observance is, Digital remittances towards financial inclusion and cost reduction.
To mark this occasion, the United Nations states the following:
“The International Day of Family Remittances (IDFR) is a universally-recognized observance adopted by the United Nations General Assembly and celebrated every year on 16 June. The Day recognizes the contribution of over 200 million migrants to improve the lives of their 800 million family members back home, and to create a future of hope for their children. Half of these flows go to rural areas, where poverty and hunger are concentrated, and where remittances count the most.
“Through this observance, the United Nations aims to bring greater awareness of the impact that these contributions have on millions of households, but also on communities, countries, and entire regions. The Day also calls upon governments, private sector entities, as well as the civil society, to find ways that can maximize the impact of remittances through individual, and/or collective actions.
“The IDFR is now fully recognized at the global level, and included as one of the key initiatives to implement the Global Compact for Safe, Orderly and Regular Migration (Objective 20), also calling for the reduction of remittance transfer costs, and greater financial inclusion through remittances. The Day also promotes achievement of the Sustainable Development Goals (SDGs) and furthers the 2030 Agenda for Sustainable Development.”
While it is sad, shameful, and heartbreaking that ordinary Guyanese are suffering while the selected few are living the high life and gleefully making grand announcements on TV, at least, we may be grateful that the international community recognises the importance of remittances to poor people, and there is a day to highlight that reality.
Guyanese may wish to ponder, too, the fact that general and regional elections are due in 2025, and we have the power to change our reality, and alter the course of our future.
