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LATEST iscovery pushes oil reserves over 5B barrels Suppliers jostle for jobs as local content forum begins US$150M and counti
When Kaieteur News initially reported last year about a decline in US currency, the government
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Guyana.” Guyana has its Macron. He is Moses
NEWS EDITORIAL SPORTS LETTERS FEATURES / COLUMNISTS WHAT GUYANA NEEDS TO KNOW
The
Finance Minister said that there is “lots of foreign currency” in the commercial banks, but what Nagamootoo. President Macron of FOLLO
they should be doing is stop hoarding and “sell the people” at the regular rates. France probably doesn’t know about
Dr. Ganga concurred with Minister Jordan that there was no reason for concern. He said that Nagamootoo in Guyana.... more
commercial banks have increased their foreign exchange holdings. The Central Bank Governor said
that in 2015, they had a gross holding of US$357M, as of September 2016 it was US$388.4M.
The Ethnic Relations Commission
With regard to the issue of difficulties of remitting monies, Dr. Ganga dismissed the assertion and
assured that there is no problem, and confirmed that all commercial banks in Guyana have at least should audit public service
one corresponding international bank.
employment
Additionally, a prominent official at Central Bank confirmed with Kaieteur News that while some
banks may be saying to their customers that there is a scarcity, none have approached Central Bank The Chairperson of the People’s
for money or have since reported a problem. National Congress Reform and
The official said, “They can say what they want to say, but the bottom line is that Central Bank has to Minister of Health, Volda Lawrence,
ensure foreign currency is being sold to people who are actual traders and are transacting business, has apologized... more
and the foreign currency is for payment for goods and services.”
The financial analyst added, “The banks are saying all sorts of things. Demerara Bank has not come
into us and they have enough money. Republic Bank is coming in and saying all sorts of things, yet CARICOM MUST BE ACTIVE ON
they can’t say who the people really demanding foreign currencies are.” HAITI
Kaieteur News understands that Central Bank is currently looking into reports that some exporters
are buying the foreign currency here and are selling it directly to Trinidadian companies. By Sir Ronald Sanders Haiti continues
The Banking official said too that the banks have close to US$400M in the system. to be an unsettled country politically.
“With that in mind, there is a question to be asked, if there is a demand in the system, why can’t they Demonstrations against successive
use the money to meet the demands? But they are trying to put pressure on those people so they governments... more
can say its central bank, but we have nothing to do with it,” the official said.
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