Financial Mid-Year Report shows…The financial mid-year report that was tabled last Thursday in the National Assembly by Finance Minister Dr Ashni Singh has documented an increase in Guyana’s external but suggests that the economy still remains in a strong position.The report stated that at the end of June 2010, Guyana’s total external public debt amounted to US$966.2M compared to US$933M at the end of December 2009.According to the report, this increase in the external debt stock by 3.5 percent reflects new disbursements of about US$48.2M of which US$39.8M was obtained from the IDB and Venezuela, as well as principal repayments of about US$6.4M in the first half of the year.The reports points out that in the first half of 2010, the total actual external debt service payments amounted to US$12.3M compared to US$6.8M for the same period in 2009.“In particular,Cheap NFL Jerseys, the repayment of principal during the first half of 2010 totaled US$6.4M compared to US$2.6M in the same period last year…Similarly, interest payments also increased in the first half of 2010 by about US$1.7M to US$5.9M.”It was pointed out that the overall increase in debt service payments in the first half of 2010 can be attributed mainly to Guyana having to commence debt service payments to Venezuela (under the PetroCaribe arrangement) and principal repayments on some CDB loans,Cheap Nike Basketball Jerseys, for the first time.Meanwhile,Wholesale Jerseys, the reports said that the Guyana economy continued to record positive growth through the first half of 2010.“This performance is most commendable, viewed against the backdrop of a global outlook characterised by uncertainty, with the developed economies still seeking the delicate balance between policies aimed at stimulating output and measures required to contain indebtedness and achieve fiscal sustainability.”Dr Singh’s report said that the domestic economy’s favourable performance demonstrates the strong underlying fundamentals on which the economy is built and reflects gains made over the years at diversifying the sources of growth.Traditional sectors such as rice,Cheap NFL Authentic Jerseys, forestry,Cheap Air Max 270, and gold continue to be important drivers of growth and, coupled with favourable performances in other sectors such as construction, information and communication, health and social services, compensated for more subdued performances in the sugar and bauxite industries.The report suggests that the sustaining of real growth in the productive sectors translated to a favourable balance of payments outturn, with significant growth in exports helping to offset increased imports.“At the same time, fiscal performance remained strong,Cheap Soccer Jerseys Free Shipping, allowing for accelerated project and programme implementation in the various sectors of Government operations.”He said looking from a holistic stand-point, the results point to continued fulfillment of Government’s ongoing commitment to prudent and stable macroeconomic policies, and to strengthening Guyana’s economic base through modernisation and diversification along a low carbon path.