CONSULTATIONS HELD IN PREPARATION FOR THE REPORT FOR FISCAL YEAR 2020
The Extractive Industries Transparency Initiative (EITI) is a global standard that promotes transparency and accountability in the oil, gas, and mining sectors. It has a robust yet flexible methodology for disclosing and reconciling company payments and government revenues in implementing countries. In keeping with the EITI Standard, each country is required to produce annual fiscal year reports prepared by an Independent Administrator (IA) and approved by the Multi Stakeholder Group (MSG).
On February 01, 2023, Guyana was suspended temporarily by the EITI Board for failing to publish its FY 2020 EITI Report which was due on December 31, 2022. However, the suspension was automatically lifted by the EITI Board after the FY 2020 EITI Report was published within the June 30, 2023, deadline.
The Guyana EITI Secretariat held a consultation on January 31, 2023, with all Government agencies that fell within the scope of FY 2020 Report. The main objective was to ensure that all the necessary preparations were done in anticipation of the arrival of the Independent Administrator, that will be preparing Guyana’s FY 2020 Report.
This was followed by the IA convening a series of consultations with ‘Reporting Entities’ that fell within the scope of FY 2020 Report. The Guyana EITI Secretariat provided logistical support for these consultations which are listed below:
- Guyana EITI Secretariat with Government Agencies
- Independent Administrator with Guyana Revenue Authority
- Independent Administrator with Government Agencies (IA Interactive Workshop)
More details on these consultations can be viewed by reading our Newsletter Issue #2.