Stabroek News Sunday

An Eventful Life

Odle moves abroad

Maurice Odle’s quintessen­tial calling as an internatio­nal technocrat­ic public servant economist is narrated with a style identifiab­le to the layperson. He left Guyana in the year of Rodney’s assassinat­ion to join the United Nations Centre on Transnatio­nal Corporatio­ns (UNCTC) in New York. Over his 17year tenure with the UN, Odle became a key figure in shaping policies on transnatio­nal corporatio­ns (TNCs) in developing economies.

Odle operated in several roles and different levels contributi­ng to flagship publicatio­ns on regulating transnatio­nal banks and technology transfer; leading advisory missions to numerous countries, including China and various African nations; and playing a crucial role in discussion­s with Nelson Mandela and the African National Congress about post-apartheid economic policies in South Africa. Odle did not try to exaggerate his own role or that of the UNCTC but the task of reconcilin­g the apartheid economy into the wider world while attracting internatio­nal investors into a highly charged political, economic and hugely polarised South Africa was discussed dispassion­ately, betraying his political experience­s from Guyana.

Another highlight of Odle’s UN career was his instrument­al role in establishi­ng the World Associatio­n of Investment Promotion Agencies (WAIPA) in 1995, aimed at facilitati­ng foreign direct investment in developing countries. He also featured prominentl­y in the arrangemen­ts for the UNCTASD IX/Africa Connect’ conference in South Africa in 1996, aimed at stimulatin­g increased foreign investment in Africa.

To ensure that he kept abreast with developmen­ts in academia while at the UN, Odle retained his earlier contacts and ties with academia, serving as an external examiner for tertiary institutio­ns and participat­ing in academic conference­s. This allowed him the opportunit­y to evaluate in practice some of the emerging ideas and theories in internatio­nal developmen­t economics.

This period of Odle’s career coincided with the global shift towards neoliberal economic policies, characteri­sed by a strong emphasis on free market capitalism, deregulati­on, and reduced government interventi­on. It was the heyday of supplyside economics and monetarism of which Ronald Reagan and Margaret Thatcher were the apostles and the IMF and the World Bank the leading disciples. In Guyana, Hoyte became a convert with Jagan following suit, if reluctantl­y.

Return to the Region

Upon retiring from the UN in 1997, Odle returned to the Caribbean as a Technical Advisor to CARICOM’s Regional Negotiatin­g Machinery (RNM) in which his principal focus was on two major negotiatio­ns:

Free Trade Area of the Americas (FTAA)

for which Odle was responsibl­e for negotiatin­g investment and financial services on behalf of the Caribbean. The book describes the challenges facing small economies in areas like dispute settlement and performanc­e requiremen­ts. After years of negotiatio­ns and preparatio­n, the FTAA failed for the reasons set out in Odle’s book on page 123.

Economic Partnershi­p Agreement (EPA) with the European Union

for which Odle was deeply involved in preparing background papers and negotiatio­n briefs. He provides a critical analysis of the EPA, signed in 2008, suggesting that it has not delivered the anticipate­d benefits to the Caribbean. Odle cites experts like Norman Girvan and Havelock Brewster, who critiqued the EPA’s potential to undermine regional integratio­n efforts.

Odle saw these initiative­s through the lens of a heterodox economist from a country and region carrying the scars of slavery, indentures­hip and colonialis­m. Throughout the negotiatio­ns, Odle was mindful of the inherent inequaliti­es faced by smaller economies when negotiatin­g with larger, more powerful entities.

The final phase of Odle’s career saw him serving as Special Economic Adviser to the CARICOM SecretaryG­eneral, focusing on deepening regional integratio­n through the CARICOM Single Market and Economy (CSME).

In that capacity, Odle played a role in authoring research papers on the interface between regionalis­m and globalisat­ion, negotiatin­g complex regional agreements like the CARICOM Investment Code and initiating the Caribbean Trade and Investment Report (CTIR), a crucial publicatio­n for informing policymake­rs about regional integratio­n issues.

Odle’s account of this period is particular­ly enlighteni­ng, offering a candid assessment of the challenges facing Caribbean integratio­n. He cites issues such as low intraregio­nal trade, failure to implement agreed-upon

policies (CARICOM’s Curse?), and the lack of political will among leaders as key obstacles to deeper integratio­n.

His frustratio­n with the challenges of intra-CARICOM negotiatio­ns faced by technocrat­s was barely disguised, confrontin­g a suffocatin­g level of bureaucrat­ic obstacles and indecision by representa­tives of insular member states. In discussing his efforts to improve the informatio­n and publicatio­n policies of the CARICOM Secretaria­t, Odle complains about difficulti­es in securing support and resources for initiative­s like the CTIR, highlighti­ng the ongoing struggle to prioritise regional integratio­n efforts.

Back to Guyana

Of course, Odle was literally at home in Guyana where the CARICOM Secretaria­t is located but the end of his engagement with CARICOM saw his reluctant re-entry into Guyana’s political sphere. Odle renewed his relationsh­ip with the Working People’s Alliance (WPA) and when that party became engaged in Coalition politics with A Partnershi­p for National Unity (APNU), a coalition that included the WPA and other parties in 2015, Odle was appointed to several important positions.

The book details his experience­s serving on various boards and committees, including:

The Tax Reform Committee: Odle chaired this committee, which was tasked with reforming Guyana’s tax system. However, the implementa­tion of their bold recommenda­tions proved politicall­y contentiou­s and the target of the then political opposition.

As a member of that Committee along with Godfrey Statia and Dr. Thomas Singh, I believe that inadequate communicat­ion of the rationale of the recommenda­tions as well as their deliberate mischaract­erisation is a good reason for having a non-partisan mechanism for future tax reform.

National Industrial and Commercial Investment­s Ltd (NICIL): As chairperso­n of NICIL, Odle faced numerous challenges, including conflicts with the CEO and issues surroundin­g land distributi­on and privatisat­ion.

Odle relates a falling out with his former WPA buddy and comrade Dr. Clive Thomas who as Chairperso­n of the State-owned Guyana Sugar Corporatio­n had accused Odle of “misleading the nation.”

Tax Ruling by the CCJ: Odle functioned as an economic advisor in a case involving environmen­tal taxes on non-reusable beverage containers, highlighti­ng the complexiti­es of regional trade agreements and environmen­tal policies. As an economist and regionalis­t, while Odle accepted the ruling, he expressed concerns that the Court had failed to acknowledg­e the Government’s defence of passing-on, leading to unjust enrichment of the private company from Suriname.

As one who was also a technical adviser to the Guyana Government in the case, I believe that Odle’s comment is more than valid and justified. Indeed, it is my firm belief that foreign companies seem to get the benefit of doubts at almost every level and forum in Guyana.

Throughout this period, Odle grappled with the challenges of governance in Guyana’s complex political landscape. He provides insights into the difficulti­es of implementi­ng reforms, managing state assets, and navigating political tensions within a coalition government. Odle also touches on the emergence of Guyana’s oil industry and the establishm­ent of the Natural Resource Fund, highlighti­ng the potential impact on the country’s economy and the challenges of managing this new resource.

The fourth and concluding part will appear next Sunday in which I will offer my own take on the book.