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Daily Archives: April 13, 2018

Guyana to guard against steep revaluation of the dollar

Finance Minister, Winston Jordan on Friday said government would put place safeguards to prevent a steep revaluation of the Guyana dollar as a result of expected large inflows of United States (US) dollars  from oil earnings. “I will indicate to you that there could possibly be some appreciation of the Guyana dollar but we will have to guard against that using ...

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ExxonMobil signing bonus transferred overseas to earn interest- Finance Minister

The US$18 million ExxonMobil signing bonus, which was  initially deposited in the Bank of Guyana, has been transferred overseas to an interest-bearing account, Finance Minister Winston Jordan said. “If it stays here, it will sit down doing nothing. It can’t earn interest if it stays here so it’s in matured US treasury bills, Canada bonds…,” he said. US$36,163 in interest ...

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Guyana gets IDB help to prepare to track oil sector earnings

Guyana will be spending US$20 million on preparing the country get its rightful share of earnings that oil companies like ExxonMobil have agreed to pay government, Finance Minister Winston Jordan said Friday. “Unless we can get processes, legislation, bodies and monies all coming together, it will be a difficult proposition trying to match our wits with a giant like ExxonMobil,” ...

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