Tag Archives: Norway eco-pact

Hoarding, low sugar performance blamed for rising exchange rates

Hoarding, low sugar performance blamed for rising exchange rates

Money

Currency Exchange

March 18, 2014 | BY KNEWS |

Guyana’s rising exchange rates may be blamed on a number of prevailing factors, including reduced proceeds from sugar and a steep drop of gold prices on the world market.

Over the past months, the exchange rate of Guyana dollar to the US climbed from $200 to US$1 to just over $210, a worrying trend for businesses and the administration.  It is not likely to drift down in a hurry, analysts have said.

While banks were advertising trading on average between $204 and $209, businesses have been complaining of hardships in acquiring significant amounts.   Continue reading

Joint opposition propose over $26B in budget cuts

Joint opposition propose over $26B in budget cuts

Demerara Waves – April 23, 2012

The parliamentary opposition on Monday submitted proposed cuts amounting to more than GUY$26B from the GUY$192.8 national budget to the consternation of the government.

Notice was given in the National Assembly on Monday ahead of Tuesday’s consideration of the allocations which come under the Ministry of Finance and Office of the President headings. The government called a press conference shortly afterward where it labelled the proposals “extremely alarming” and urged the parties to reconsider.            Continue reading

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