President Ali Promises Drastic Measures on Cost of Living, New Development Bank in PPP/C Manifesto Consultation
By Antonio Dey | HGP Nightly News.
President Dr. Irfaan Ali on Wednesday joined General Secretary Bharrat Jagdeo and other senior members of the People’s Progressive Party/Civic (PPP/C) in a consultation session to finalize the party’s 2025–2030 election manifesto.
Speaking at the event, President Ali committed to taking a more aggressive approach to tackling the high cost of living, should his party be re-elected in the upcoming September 1, 2025, general and regional elections.
“Guyana has been recognized as one of the countries that took a holistic approach to global price increases,” he said. “We prevented most of those effects from reaching consumers.”
Among his key campaign promises, President Ali announced the establishment of a national development bank aimed at supporting small and medium-sized enterprises (SMEs) by facilitating access to capital and reducing borrowing costs.
“We want to eliminate collateral requirements and reduce interest rates to as low as 3%,” the president said, outlining that the new bank would co-finance loans and provide liquidity to reduce risk for commercial lenders.
Ali also vowed to open 100,000 acres of farmland, establish agro-processing hubs, and invest in manufacturing and services, although specific locations for these initiatives were not disclosed.
Despite the forward-looking proposals, critics have questioned the administration’s current handling of inflation and food security. Opposition Leader and presidential candidate for APNU, Aubrey Norton, has repeatedly accused the PPP/C government of failing to deliver on past promises.
“This government only talks about agriculture and food security. They do nothing,” Norton said at a recent event.
If the PPP/C is re-elected, the party would surpass 30 years in office since first taking power in 1992.
