{"id":16092,"date":"2024-01-31T16:44:14","date_gmt":"2024-01-31T16:44:14","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=16092"},"modified":"2024-01-31T16:44:15","modified_gmt":"2024-01-31T16:44:15","slug":"private-sector-chairman-addresses-foreign-exchange-availability","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/private-sector-chairman-addresses-foreign-exchange-availability\/","title":{"rendered":"Private Sector Chairman Addresses Foreign Exchange Availability"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>Komal Singh, Chairman of the Private Sector Commission (PSC), has commented on the availability of foreign currency in Guyana, stating that there is currently enough foreign currency in the country. <\/p>\n\n\n\n<p>However, he highlights a challenge related to the time it takes to access these funds, which can range from 1 to 4 days.<\/p>\n\n\n\n<p>Singh notes that despite the waiting period, the Central Bank&#8217;s monitoring indicates an excess of foreign currency in Guyana. <\/p>\n\n\n\n<p>He emphasizes that addressing the delays in accessing funds is crucial for the private sector, especially with Guyana&#8217;s developmental agenda and infrastructural transformation requiring increased foreign currency.<\/p>\n\n\n\n<p>Looking ahead, Singh provides an optimistic outlook for the next few years, considering the growing economic activities taking place in the country.<\/p>\n\n\n\n<p>In 2023, the Central Bank acknowledged the existence of an intra-bank market that allows banks to share foreign currency. <\/p>\n\n\n\n<p>However, it was noted that achieving a more efficient distribution of foreign currency availability relies on moral persuasion, and it remains the responsibility of the Central Bank to ensure that the government meets its macro-economic objectives.<\/p>\n\n\n\n<p>As Guyana undergoes economic growth and development, addressing issues related to foreign currency access will be crucial for facilitating business operations and supporting the country&#8217;s ambitious developmental goals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Komal Singh, Chairman of the Private Sector Commission (PSC), has commented on the availability of foreign currency in Guyana, stating that there is currently enough foreign currency in the country.&hellip;<\/p>\n","protected":false},"author":4,"featured_media":16093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,350],"tags":[],"class_list":["post-16092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/16092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=16092"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/16092\/revisions"}],"predecessor-version":[{"id":16094,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/16092\/revisions\/16094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/16093"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=16092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=16092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=16092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}