{"id":24458,"date":"2024-11-28T13:57:05","date_gmt":"2024-11-28T13:57:05","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=24458"},"modified":"2024-11-28T13:57:06","modified_gmt":"2024-11-28T13:57:06","slug":"government-assures-foreign-exchange-stability-amid-market-pressures","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/government-assures-foreign-exchange-stability-amid-market-pressures\/","title":{"rendered":"Government Assures Foreign Exchange Stability Amid Market Pressures"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p><em>By Saskia Warrick, November 1, 2024<\/em><\/p>\n\n\n\n<p>The Government of Guyana is closely monitoring the foreign exchange market and is prepared to intervene if necessary to stabilize the market. <\/p>\n\n\n\n<p>Vice President and PPP General Secretary, Dr. Bharrat Jagdeo, reassured the public that the country&#8217;s foreign reserves are sufficiently robust to handle any potential market disturbances.<\/p>\n\n\n\n<p>Dr. Jagdeo addressed concerns about fluctuations in the exchange rate, particularly driven by phenomena such as the &#8220;Dutch Disease.&#8221; <\/p>\n\n\n\n<p>This occurs when a sudden resource-driven economic boom leads to the overvaluation of the national currency, making other sectors of the economy less competitive. <\/p>\n\n\n\n<p>He stated that the government is vigilant in monitoring foreign currency flows to ensure they align with the country\u2019s aggregate demand.<\/p>\n\n\n\n<p>The Vice President also highlighted external pressures on the foreign exchange market, such as Trinidadian companies purchasing goods directly from Guyana. <\/p>\n\n\n\n<p>These transactions are occurring due to exchange control constraints in Trinidad, adding additional complexity to the market.<\/p>\n\n\n\n<p>With the holiday season approaching and procurement activity ramping up, the government is ready to adjust measures to prevent excessive currency volatility. <\/p>\n\n\n\n<p>Dr. Jagdeo emphasized the administration\u2019s commitment to keeping the market balanced and stable in light of these seasonal demands.<\/p>\n\n\n\n<p>Guyana\u2019s government remains proactive in its efforts to manage the foreign exchange market and maintain economic stability, preparing to intervene if the need arises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Saskia Warrick, November 1, 2024 The Government of Guyana is closely monitoring the foreign exchange market and is prepared to intervene if necessary to stabilize the market. Vice President&hellip;<\/p>\n","protected":false},"author":4,"featured_media":24421,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[363,350],"tags":[],"class_list":["post-24458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-transformation","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/24458","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=24458"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/24458\/revisions"}],"predecessor-version":[{"id":24459,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/24458\/revisions\/24459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/24421"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=24458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=24458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=24458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}