Is someone playing Mickey Mouse with our foreign exchange markets?

Guyana is the fastest the Natural Resource Fund there is a problem but buyingandsellingofforeign using Guyana dollars to buy growing economy in the that are parked overseas. So whether this problem companies, then it means foreign currency and then world.Wearesupposedtobe why then are our businesses amounts to a shortage is not that the entire economy can export this to Trinidad were earninghundredsofmillions complaining about problems certain. Sowhatcouldbethe be held to ransom. The therewasagreatdemandand not excuses The matter ofUnitedStatesdollarsinoil with the availability of problem? For one, a small secondfeatureofourforeign ahighprice. should be investigated. The revenues each year But foreignexchange? n u m b e r o f p r i v a t e currency market is its In order to control the necessary data should be where is this money that we The Bank of Guyana individuals along with the openness. There are little to situation and avoid high examined to determine are earning going and how is denies there is a problem. It Bank of Guyana play an no restraints on companies spreads, the government whether there is a shortage. it impacting on the strength says there is sufficient important role in the foreign remitting foreign currency imposed a maximum $3 This should be done by an ofthedollar currency in circulation. So is exchange market These and therefore it is possible spread between the buying independent panel that

Changing circumstances: watch...

From page 6 urge the skeptical to banish broad, mutually rewarding whole world in his hands. emotions, ideology and the partnerships with Guyana. Might be sacrilegious, but rest Remember Lord Apparently, overtures, hints, someone had to say it, so it Palmerston with that well- outreaches from the mightaswellbeme. said one about the Hummingbird Republic fell

The Guyana dollar has someone playing cat-and- individuals and their firms for foreign companies as rates and selling rates of should provide a report on appreciated slightly over the mouse with our foreign can create instability in well as local businessmen to foreign currency This theirfindings. past three years. It has currency? financial markets. If some of be sending massive sums of limitedtheamountofmoney The worst things which appreciated by about 6%. Businesseshavesaidthat them do not release foreign moneyoverseas. which the cambios and can happen now is for the But yet, the prices of the commercial banks have currency or repatriate their Inthelatterpartof2019, commercial banks could Guyana currency to suffer a imported items continue to been telling them that gold earnings, the entire there was a similar problem demand – they could not sell depreciation. This may put a increase despite freight rates currency will be made system can go into with foreign currency for more than $3 the price lotofGuyanadollarsintothe – the main source of available to them as soon as turbulence. shortage. That’s the time the which they bought foreign handsofsomepersons.Butit increased imported inflation the banks have enough This is why there is need APNU+AFC was in office. currency This was sensible will create severe hardships – having fallen in recent currency The banks depend for a study of the foreign At that time, the Bank of move which unfortunately, for consumers who, already months. From all accounts, on Bank of Guyana and on currency markets to ensure Guyana said there should be the PPPC government saddled with high prices for the country’s finances are in the buying from the cambios that it is not subject to noshortages. dismantled when it came imported goods, will see good health. We are told to meet the needs of their oligarchic control. If a few Rumors were rife as to intooffice. another wave of increases. about the large sums held in customers.Soitobviousthat firms can dominate the what were the causes for the We do not know is the In the meantime, the unavailability of foreign cause of the present shortage g o v e r n m e n t s h o u l d currency It was even offoreignexchange.Itcould immediately issue about r u m o r e d t h a t t h e be capital flight. It could be U S $ 2 0 0 M i n t o t h e Trinidadians were coming to largeremittancesoverseas.It commercial banks with Guyana and buying up could also be a case in which instructions that it be only foreign currency using the some persons are holding on used to support the Trinidad dollars. But there to foreign exchange in the importationofgoodsintothe was little evidence of an hope of pushing the price country ( T h e v i e w s u n u s u a l a m o u n t o f upwards, thus reversing the expressed in this article are Trinidadian dollars in the appreciation of the Guyana those of the author and do system.Whatmayhavebeen dollar relative to the US not necessarily reflect the happening is that some dollar opinions and beliefs of this u n s c r u p u l o u s l o c a l Whatever the present n e w s p a p e r a n d i t s businessmen may have been cause requires investigation affiliates.)

Suddenly there isn’t a paramountcy of permanent flat, when PPP Government productionproblem,viz.,the interests. leaders repeatedly threw spare capacity limitations of It is only in Guyana, that buckets of frozen water on the Saudis such a worry. Guyanesepoliticiansandthe interestsexpressed. There could actually be a Guyanese people have a foot I caution the PPP supply glut. I know it is in the Guinness Book of Government and its leaders contrarian. Records for holding on to to avoid any overabundance

But the contrarian Putin grudges,thepast,andwhatis of arrogance that could has shocked the world destructive to whatever undermineourpromise. before, could do so again, pluses that the future holds. Leading with passion w i t h m o r e o f t h e Andtheirownself-interests. and conviction is prospering unexpected

Moreover, I discern that when governing is not

Thistimehecoulduseoil Trinidad is inching closer to crippled by vindictiveness. not as a weapon, but as a linkingarmswithVenezuela. We have experienced the winner of friends, a changer TheUShadalreadygivenits loss of that domestically of hearts hardened against ‘no objection,’ so to speak. Our changed circumstances, him.IfNicholasMadurocan Thinking of this, I do not and changing ones of the return from the ashes, then I believe that such a world must lead to sensible am putting money on Putin partnership was high on adjustment of attitudes for slowly to return to grace Trinidad’slist. constructive internal from his self-inflicted fall. I The preference was for engagements.

Dem Boys Seh…

Solar gan be better dan gas

Guyana going and build gas-to-shore be transmitted to de GPl.And is you and me project. It will cost de country close to who gat to pay back de US$1B fuh de US$2B. With less money we could get de pipeline. It mek dem boys remember when sameamountofpowerusingsolar we had problems with de electrity supply in And it need not even cost de government decountry Isdendegovernmentdecidealso a cent. Dem can mek dis a private sector dat dem gan integrate de water supply project on condition dat de energy system and link east to west and north to developers sell de solar power at de same south. priceorlessdandegas-to-shoreproject.But Dem set up de system fuh use electricity de government nah listen. It ears hard. It nah What it turn out to be is dat when dem gat looking properly at de alternatives. It blackout east to west and north to south dem determined fuh build de gas-to-shore nah get water nor light. Souljah Bai did put pipeline and de energy plant. Instead, it solar panels pun top nuff government could build solar farms all over de country buildings. So when dem get blackout during and avoid de high cost associated with de day, it nah affect de energy to de transmission. buildings. But it did not affect also de wuk De GPL nah looking too good. So de inside dem buildings. In most cases is de more pressure de government tek off of de samego-slowdidtekplace,whetherdemgat GPL, de better But de government currentornot. determined fuh sell power which gan gat to Talk half. Leff half