Dear Editor,
I must draw attention to a bizarre yet captivating chapter in Guyana’s economic saga: the infamous “basket of currency” affair of the 1980s. This era wasn’t just your run-of-the-mill economic rollercoaster; oh no, it was a thrilling ride through fiscal misadventure that left a lasting mark on our financial feng shui. In those heady days, under the sage guidance of Forbes Burnham, Guyana embraced a novel “basket of currency” approach to tackle foreign exchange woes and economic downturns. What followed was a black-market bonanza, scarcity rivalling a desert oasis, and economic tensions that could make a caffeine addict look serene.
Fast forward to today, where our dear technocrats—bless their independent hearts—find themselves caught in a familiar dance. The current government’s repeated calls to the Bank of Guyana for heroic injections of US dollars into the market feel less like economic strategy and more like a magician’s misdirection. One wonders if the goal is to stabilize the economy or simply stabilize their poll numbers.
Rather than this merry-go-round of quick fixes, what Guyana truly needs are sustainable economic strategies, decisions made under the unblinking eye of transparency, and a seat at the table for all stakeholders—not just the political flavour of the week. Let’s learn from our past economic escapades, shall we? Because as we venture into the oily future, it’s clear we need more than just optimism and a penchant for crisis-of-the-moment narratives.
Sincerely,
Keith Bernard
