Economy

Governor of the Bank of Guyana, Dr Gobind Ganga on Tuesday virtually ruled out allowing the routine opening of US dollar accounts at commercial banks here by anyone, saying that could put the country’s foreign reserves at risk. Told that the Jamaica Central Bank on Monday hailed the fact that people there were being allowed to freely open foreign exchange ...

The Georgetown Chamber of Commerce and Industry (GCCI) on Saturday called on several government agencies to take action against retailers and supermarkets for selling poor quality goods and ensure that all tax laws and labour standards are applied equally. “There has been an alarming increase in the presence of counterfeit, expired, and inappropriately labelled goods in the market, which are ...

Vice President Bharrat Jagdeo on Thursday said overseas-based Guyanese, who are 18 years and older as of January 1, 2024, could also receive the GY$100,000 cash grant per person if they are in Guyana and properly registered. He said once they are in Guyana, they would have to register as the grant would not be paid overseas. “There is no ...

The Working People’s Alliance (WPA) on Monday dismissed suggestions that commercial banks might not want to risk accepting cash grants as a type of income to lend money because of the likelihood that the cash grant policy could be changed by a new government in office. “Why should an incoming government, if a social programme is working, want to abandon ...

Opposition Leader, Aubrey Norton on Thursday said if a coalition that includes his People’s National Congress Reform wins the 2025 general and regional elections, Guyanese would be handed “predictable” cash grants on specified periods that could be used as proof of earnings at commercial banks. Addressing the opening of the New Amsterdam Town Week in Berbice county, he promised cash ...

Former Finance Minister, Winston Jordan on Thursday assailed the Guyana government for excluding youths, who would turn 18 years by year end, from receiving the GY$100,000 cash grant per person. Mr Jordan said government also needed to specify that only Guyanese 18 years and older who are residing in the country would be eligible for the GY$100,000 cash grant. “You ...

President Irfaan Ali says his government will not give into opposition demands for huge cash transfers, even it means that his People’s Progressive Party Civic’s (PPPC) chances of losing an election are reduced. Addressing the opening of the Guyana-Suriname International Business Conference at the Marriot Hotel, he said government would prefer to stick to the economic fundamentals rather than yielding ...

The Working People’s Alliance (WPA) on Monday, in a lukewarm welcome, deemed the government’s GY$200,000 cash grant to all Guyanese households as “election gimmickry” and said much more must be done for the poor and disadvantaged. WPA Co-leader, Dr David Hinds instead said government needed to pay more cash grants to counter the rising cost of living and at the ...

The Guyana government is cautious that Guyanese, regardless of their political preference, could be thinking of creating fake households and scheming other plans to cash in on more of the GY$200,000 per household cash grant than they are entitled to, Vice President Bharrat Jagdeo said Thursday. “It’s not an easy task when you’re dealing with large numbers of people and ...

Trinidad and Tobago’s state-owned National Energy Company (NEC) has raked in profits ten times its expenses of setting up business in Guyana, that twin-island nation’s Energy Minister Stuart Young said Monday. Responding to questions in the Senate, he said the company earned US$5.3 million (TT$36,262,827). He detailed that NEC earned TT$350,000 (US$51,564.) for technical services, and TT$35,912, 363 (US$5,291,298) for ...