Before the Central Bank commits to releasing some of Guyana’s foreign currency reserve into the market, it is asking commercial banks to help “weed out” illegitimate requests even as it considers closing foreign currency retention accounts of businesses it claims are “hoarding.”
These statements were shared by Minister of Finance Winston Jordan and Bank of Guyana Governor Gobind Ganga at a press conference yesterday. The press conference followed a meeting with the Guyana Association of Bankers (GAB)—the first in a series of stakeholder consultations aimed at addressing concerns about Guyana’s rising foreign exchange rate. The next meeting is scheduled for Thursday and will include representatives from the Central Bank and GAB.
For weeks, the Guyana dollar has been under pressure and the business community and members of the public have complained about having
