Following aggressive anti-corruption campaigns, Guyana has been officially removed from the European Commission’s money laundering blacklist.
The European Commission had made the proposition to have Guyana removed from the money laundering blacklist since May of 2017, but the European Parliament repeatedly rejected the list. Being on the blacklist not only damages a country’s reputation but also complicates financial relations with the EU.
In an invited comment to the Department of Public Information (DPI), Vice President of the Transparency Institute, Fredrick Collins related that this news bodes well for Guyana and it ties in with the recently released corruption index published by the institute.
“Beyond the fact that it has to be a good thing, we should note that it didn’t happen alone, that there has been in terms of our index, which indicated an improvement in the overall perception of corruption, we have been on the improve with regard to corruption,” Collins said.
He further added; “These are good signs. We cannot help but notice that these two things are good news for Guyana, notwithstanding we cannot be in any delusion that those facts in any way should make us less vigilant… Our overall position is that this is good news, but we have to continue a lot of work.”
Attorney General and Minister of Legal Affairs, Basil Williams SC., was quoted in the Guyana Chronicle saying;
“From the onset, President Granger had given a high-level commitment to the Financial Action Task Force regarding Guyana’s position on combating money laundering and he has followed-up with ensuring that his government works towards that.”
This move further shows that the anti-corruption measures implemented by the government is being noticed by the international community and is ideal at a time where we are on the verge of becoming an oil economy.
The Attorney General further said:
“It is important in the context of being on the cusp of transforming into an oil economy, that we ensure that we have good money, that we make preparations for the good money that will flow from legitimate endeavours. So, we have to continue this struggle.”