Finance

Guyana and Suriname have selected China Road and Bridge Corporation to construct the 1.1 kilometre bridge across the Corentyne River to link the two countries, Minister of Public Works Juan Edghill said Sunday. “China Road and Bridge has been the preferred evaluated bidder that has been agreed on by both countries,” he told Demerara Waves Online News. Mr Edghill said ...

A member of the Natural Resources Fund (NRF) Investment Committee believes that government should list how it intends to spend oil revenues before the money can be transferred to the consolidated fund, but Vice President Bharrat Jagdeo on Thursday resisted the idea and said accountability rests with the National Assembly. “What sense does it make?…So next year, should we start ...

The Board of the United States’ Export-Import (EXIM) Bank has approved a just over US$500 million loan for the gas-to-energy project at Wales, West Bank Demerara, with final approval expected at the end of a 30-day notification to the US Congress, Vice President Bharrat Jagdeo said Thursday. Originally, Guyana had applied for US$660 million to help finance the construction of ...

Finance Minister Dr Ashni Singh on Tuesday appealed to commercial banks to comply with a Bank of Guyana directive to use the simplified due diligence (SDD) requirement for opening bank accounts that would attract monthly deposits of GY$500,000 or less. “It would appear to me that this simplified guideline is not well-known,” he said. Dr Singh said Guyanese should not ...

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 ...

Though many non-bank cambios are selling United States dollars at a rate of GY$219 for US$1, Guyanese are being assured that there is sufficient foreign exchange in the l0cal market and there are new rules governing currency trading. “Most of the banks are comfortable but when they have this money, they just give it out to make profit so we ...

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 ...

President Irfaan Ali on Friday praised the Barbados Labour Party (BLP) for attaching financial literacy as a component of direct cash transfers to the poor. Dr Ali referred to the “One Family” programme in 2023 that aimed to assist 1,000 poor households to rise out of poverty structurally by offering families continuous support through financial education, financial literacy, planning and ...

Former finance minister, Winston Jordan on Sunday recommended that government abolish plans to distribute the GY$200,000 cash grant per household because of concerns about the definition of a household. “To avoid this problem that is inherent about this issue about households, they (government) should step back and say ‘we’re listening’ they are indeed problems about this question about household,” he ...

Just days after Deputy Police Commissioner Calvin Brutus was reassigned from administration to Head of Special Branch, the Guyana Police Force said Thursday afternoon that he has gone on leave to allow a probe into alleged financial misdeeds. Mr Brutus allegedly deposited GY$16.5 million into his Police Credit Union account on December 15, 2023. The money was returned to him ...