President Bharrat Jagdeo is optimistic and celebrates the fact that Guyana has not experienced any major ravages of its economy like the rest of the world but says the country is not yet totally in the clear.Yesterday, he told soldiers that Guyana has experienced a major reduction in remittances and if the recession is prolonged we may face some consequences.“If the world continues to be where it is (void of any economic dynamism) we may have to face some of these consequences.” He is however optimistic and says that Government “is very cautious about 2010 and is managing resources carefully.”Over the past 18 months the world lost $30 trillion of value,Wholesale China Jerseys, stock exchanges around the world collapsed, currencies depreciated, house prices fell significantly and many people couldn’t pay their mortgages.In addition, 20 million people worldwide lost their houses while 50 million people lost their jobs.Closer home, in the region,Cheap Jerseys, CLICO collapsed and the tourism industry reeled from the impact of the global crisis while countries such as Antigua and Barbuda at present can’t pay wages and salaries.“Jamaica has seen its currency being depreciated significantly and it has lost several aluminium factories. Almost every country in the world and in the region has experienced some form of effect except for Trinidad because of its oil wealth,” President Jagdeo said.2009 has been a rough year for the world economically, the president said. Though Guyana is included it is not as hard hit as most countries around the world and in the Caribbean Region,Wholesale NFL Jerseys, he added.President Jagdeo,NFL Jerseys China, assessing the year, said,Wholesale Authentic Jerseys, “In Guyana we have seen some deviation from our original growth rate.” But fortunately because of the accumulated work that his government has done to get rid of debt there is more fiscal space.He also credits Government’s creative approach to fuel taxation that has not incurred any major shrinkage in revenue.The President said that Guyana’s economy has managed to stay afloat and there has not been any major crash in housing crisis. Not many people have lost homes.He said from his stand point the New Building Society has currently reached its limit in mortgage loans and he recently had to give the commercial banking sector tax free concessions on loans up to $8m resulting in them lending more money at a very concessional rate.Noting that quite few big projects are nearing completion and are on going the president said,Wholesale Jerseys, “I want the housing construction to continue in the country.”

–?? ?passengers evacuated after several hoursOver two hundred passengers en route to Supenaam yesterday,Nike NFL Jerseys China, were stranded in the Essequibo River for several hours after the vessel in which they were being transported, M.V. Torani, encountered engine problems and ran aground on a sandbank in the vicinity of Hog Island.According to information received, the boat was loaded with passengers,Wholesale Jerseys China, vehicles and goods on Monday night, and was supposed to depart from the Parika Stelling upon completion of that process, but because it was encountering “engine problems” it departed the following day (yesterday) just after 08:00am.MV Torani (right) being towed by MV MalaliAccording to a male passenger, when the boat departed the stelling, “it basically circled the area for four hours, going back and forth.”“People started to get frustrated because they spent the entire night in the vessel, now when they think they will be home; they are stuck,Wholesale Jerseys Free Shipping,” the man explained.He then said that he along with some other businessmen approached the captain for an explanation. “The captain told us that the engine was giving some problems and that it was a regular something. The captain told us that complaints were made to a higher authority about the boat but nothing was done.”After the M.V. Torani made its final departure from Parika,Cheap Nike NFL Jerseys, it got stuck on the sandbank in the Essequibo River for another three hours and had to be towed out by another vessel,Cheap Jerseys Wholesale, M.V. Malali.Before this happened, some passengers had already departed the troubled vessel via speed boat, while persons who had their vehicles in the ferry remained,Cheap Jerseys, as it was towed to Supernaam.