Bankers at the meeting (Ministry of Finance photo)Amid continuing complaints from members of the business community about the unavailability of fo
Amid continuing complaints from members of the business community about the unavailability of foreign currency, the government yesterday injected US$100m into the market.
This announcement came just days after Vice President Bharrat Jagdeo announced on March 27th that US$35m had been released to the market.
Yesterday, Jagdeo and Finance Minister Dr. Ashni Singh, along with Central Bank Governor Dr. Gobind Ganga, met with the Chief Executive Officers and other representatives of commercial banks to discuss recent developments in the banking system specifically in relation to the market for foreign exchange.
A release from the Ministry of Finance said that at the meeting, note was taken of the continued availability of adequate levels of foreign currency in the financial system as a whole to meet ongoing demand, despite occasional timing differences. The release said that these timing differences have resulted in some delays being encountered in the settlement of orders for foreign currency from time to time at some commercial banks.
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