Economist says drug money not in Guyana\'s economy

A well-known Caribbean economist is disputing claims by President Bharrat Jagdeo that drug-money is not reflected in Guyana\'s economy.



The Guyana government has been repeatedly coming under fire from the opposition Peoples National Congress and the Alliance For Change.



The opposition parties allege that the Jagdeo administration is doing little to curb the illegal drug trade.



Economics professor, Clive Thomas, says studies done by the International Monetary Fund (IMF) and the Institute of Development Studies of the University of Guyana show that the underground economy is almost 50 per cent of Guyana\'s total financial system.



However, President Bharrat Jagdeo says increased investments are due to vitality, energy, growth and confidence in Guyana\'s economy.



However, according to Professor Thomas some drug-proceeds are also getting into the banking system.