GUYANA’S EXTERNAL RESERVE REMAINS STRONG- DR. SINGH Minister of Finance, Dr. Ashni Singh is assuring that Guyana’s external reserve remains adequate and strong. The minister was responding to a question posed by a media operative relating to the stability of the country’s external reserve. He noted that “what is not in doubt is that our external reserves position remains adequate and strong and that is not within doubt we have adequate external reserve to meet our external obligations and that is beyond any doubt whatsoever.” Dr. Singh admitted that the country’s external reserve has been fluctuating and is influenced by several factors, “when gold prices are not doing so well, you have the potential for an impact on the balance of payments, but then you have an offsetting impact and prices are so much lower and import bill is also lower so factors like that counter value each other,” the Finance minister said. Guyana’s foreign reserve entry gives the dollar value for the stock of all financial assets that are available to the Central Monetary Authority for use in meeting a countrys balance of payments needs as of the end-date of the period specified.
Posted on: Tue, 20 Jan 2015 17:33:50 +0000
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