Commercial Banks

Is the oil sector contributing to national development proportionate to its size?

News EditorSeptember 30, 2023October 10, 202317 mins

Articles by Dr. Tarron Khemraj appearing on his business page in SN 2023/09/24 and SN 2023/09/10 require some comments, since the use of ‘Balances from Abroad’ imply that Commercial Banks have readily available sources of foreign exchange that are liquid balances and can be deployed to make good any foreign exchange ‘shortage’ affecting the Private…

Balances due from abroad and the foreign exchange “shortage”

News EditorSeptember 10, 2023September 13, 202302 mins

By Tarron Khemraj On September 10, 2023 On August 19, the Stabroek News reported that the government is willing to make necessary interventions in the foreign exchange (FX) market in order to enable the smooth access to hard currencies. In the same news report, Vice President Jagdeo noted that there is ample foreign exchange if one considers the…

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Is the oil sector contributing to national development proportionate to its size?

Balances due from abroad and the foreign exchange “shortage”