Central Bank made US$80m injection into foreign currency market

Government last week asked for the Bank of Guyana’s intervention to address a foreign exchange shortage here following complaints from local commercial banks at a meeting, and as a result, over US$80 million was released into the monetary system.

“We have in the last week met with the bankers. We’ve seen a situation where we’ve had a short-term mismatch and we’ve asked the Central Bank, last week Minister Singh [Minister with responsibility for Finance, Dr Ashni Singh] and I met with him [Governor of Central Bank Gobind Ganga] and asked the Central Bank to make a major injection into the foreign currency market,” Vice President Bharrat Jagdeo yesterday stated at a press conference held at the Office of the President.