Government is mulling a day-to-day reporting system for foreign currency at commercial banks, Vice President Bharrat Jagdeo said yesterday, in order to have an understanding behind the alleged short-age. The private sector has been complaining of its members being unable to access foreign currency at some local banks.
“We have been exploring something,” Jagdeo said. “I was thinking about this and would have to discuss it with the Finance Minister that maybe we need a daily balance reported to the central bank of currencies purchased and sold, and the daily balance at all the institutions and then the list of demands…”
He said that while there are some measures that can be put in place, the conversation should be between the Georgetown Chamber of Commerce and Industry (GCCI), the Private Sector Commission and the Bankers Association on ways they can make the market work more efficiently.
