FOR IMMEDIATE RELEASE
November 13, 2024 — The Guyana Business Journal (GBJ) and the Caribbean Policy Consortium convened a landmark forum to explore implementing a Baby Bonds program in Guyana. Panelists presented an innovative approach to addressing wealth inequality. The proposed initiative would establish government-funded trust accounts for newborns, with larger endowments allocated to children from lower-income families.
The forum, part of GBJ’s “Transforming Guyana” series, featured distinguished speakers, including Dr. William Darity Jr., Samuel DuBois Cook, Distinguished Professor of Public Policy at Duke University, a leading architect of the Baby Bonds concept. Dr. Darity was joined by David Radcliffe, a policy analyst instrumental in Connecticut’s Baby Bonds implementation, who offered valuable insights from existing programs.
Dr. Terrence Blackman, host of “Transforming Guyana” and forum moderator, guided discussions on adapting the Baby Bonds model to Guyana’s unique economic landscape. “This initiative could fundamentally reshape opportunities for Guyanese youth,” Dr. Blackman noted. “As our nation manages unprecedented resource wealth, Baby Bonds offer a mechanism to ensure this prosperity reaches all citizens.”
Key features of the proposed program include:
- Trust accounts established at birth for every Guyanese child
- Progressive funding based on household wealth metrics
- Guaranteed interest rates to ensure account growth
- Funds accessible at age 18 for education, entrepreneurship, or housing
- Regular program evaluation and adjustment mechanisms
The forum examined how Baby Bonds could complement Guyana’s existing social investment programs while creating new pathways for economic mobility. “By providing young adults with capital at a crucial life stage, we can break cycles of intergenerational poverty and foster a more dynamic economy,” Dr. Darity explained.
The event concluded with a commitment to further stakeholder engagement and detailed policy development.
For more information about the Baby Bonds initiative and forum, visit here.
About Guyana Business Journal The Guyana Business Journal is a leading platform dedicated to providing in-depth coverage and analysis of business developments in Guyana, focusing on the oil and gas sector. It aims to foster informed discussions and community engagement on economic growth and diversification.
For further information and to watch the webinar, please visit Guyana Business Journal or Caribbean Policy Consortium.
Contact:
Terrence Blackman, Ph.D., Founder & CEO Guyana Business Journal [email protected]
Dr. David E. Lewis, Fellow and Co-Chair, Caribbean Policy Consortium [email protected]
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For access to the entire webinar episode, please visit:
Program
