Guyana’s net foreign reserves have fallen below US$600 million for the second time in the last two years.
A statistical abstract on the local banking system, published by the Bank of Guyana (BoG), shows that as of the end of February, Guyana holds US$594.4 million in Net International Reserves.
According to the International Monetary Fund (IMF), foreign currency reserves are maintained so as to increase a country’s resilience to shocks that may originate from global financial markets or within the domestic financial system. Reserve management is a process that ensures that adequate official public sector foreign assets are readily available to and controlled by the authorities for meeting a