France to establish local office in September

MINISTER of Foreign Affairs and International Co-operation, Hugh Todd, on Friday met with Nicolás Bouillane de Lacoste, non-resident Ambassador of the Republic of France to the Co-operative Republic of Guyana.

During the meeting, the ambassador announced the decision of the French Government to enhance its diplomatic presence in Guyana through the establishment of a French Office in Georgetown by Sep- tember 2023.

While the office will not be an embassy it will have a fullfledged diplomatic representative to aid in the furtherance of mutually beneficial co-operation and bilateral relations between Guyana and France.

In August 2021, the French Republic appointed Pierre Gate, Project Manager and representative of the Embassy of France in Suriname with residence in Guyana.

Gaté’s appointment in Guy-

Minister of Foreign Affairs and International Co-operation, Hugh Todd, on Friday met with Nicolás Bouillane de Lacoste, non-resident Ambassador of the Republic of France ana was the French Republic’s first step towards materialising the commitment to establish a French Embassy in Guyana. Guyana and France es - tablished diplomatic relations on June 22, 1967. The relationship between the two countries also covers the engagement between Guyana and French Guiana.

THE Bank of Guyana (BoG) has noted the claims in the press by some businesses that there is a shortage of US dollars in the banking system.

The Central Bank, in a statement, reiterated that the banking system, with an average monthly turnover in excess of US$500 million, has an adequate supply of US dollars to meet demand.

As of February 22, 2023, the banking system had US$99.5 million available for transactions.

The Central Bank stated too that while the available funds are not evenly distributed among the banks, there is enough to cover the cash-flow needs of transactions arising from businesses in Guyana.

Cash flowing to the banks is cyclical; as such, there will be periods of excess liquidity and periods when there will be a limited supply.

“The bank continues to monitor the foreign currency position in Guyana to ensure there is no disruption nor adverse impact on economic activities,” the Central Bank said.