tooth cavities, and the crafting of figurines and other decorative items (particularly by the Macushi people of the Kanuku mountains).
Major private sector organizations include the Private Sector Commission (PSC) and the Georgetown Chamber of Commerce & Industry (GCCI);
The government initiated a major overhaul of the tax code in early 2007. The Value Added Tax (VAT) was brought into effect, replacing six different taxes. Prior to the implementation of the VAT, it had been relatively easy to evade sales tax, and many businesses were in violation of tax code. Many businesses were very opposed to VAT introduction because of the extra paperwork required; however, the Government has remained firm on the VAT. By replacing several taxes with one flat tax rate, it will also be easier for government auditors to spot embezzlement. While the adjustment to VAT has been difficult, it may improve day-to-day life because of the significant additional funds the government will have available for public spending.
President Bharrat Jagdeo had made debt relief a foremost priority of his administration. He was quite successful, getting US$800 million of debt written off by the International Monetary Fund (IMF), the World Bank and the Inter-American Development Bank (IDB), in addition to millions more from other industrial nations. Jagdeo was lauded by IDB President Moreno for his strong leadership and negotiating skills in pursuing debt relief for Guyana and several other regional countries
