The Extractive Industries Transparency Initiative (EITI) Board has lifted the temporary suspension it had put on Guyana’s membership earlier this year.
Guyana was reportedly suspended after it failed to submit a report documenting revenues received by the state from the extractive sector for the period 2020. EITI, on its website, had said that Guyana is not eligible for an extension of the reporting deadline for the fiscal year January 1, 2020, to December 31, 2020.
Guyana missing the reporting deadline resulted in a temporary suspension being implemented on February 1, 2023 by EITI.
In accordance with the EITI Standard, it was agreed that the suspension would be lifted if the EITI Board is satisfied that the outstanding EITI Report was published within six months of the deadline.
Notably, it was revealed that on June 30, 2023, Guyana published its 2020 EITI Report, thereby meeting the condition for lifting the suspension.
The Government of Guyana welcomed the decision by EITI to lift the suspension, adding that systems will be implemented to ensure that Guyana does not end up in a similar position in the future.