Dear Editor,
The poor management of the tariffs during the current trade war has resulted in a drop in the value of the Guyanese dollar. It may be time to bring the oil revenues to the Bank of Guyana and increase our gold reserves. The weaker buying power of the Guyanese dollar will place pressure on local businesses that depend on imports. The cost of construction will also increase. The government must make adjustments in order to be better positioned during the trade war. Negotiations with the U.S. is only one step in the process. Brazil is beginning to benefit from the shift in the global economic environment and our partnership with them and the EU will prove beneficial. With a construction boom underway we must strengthen our currency and prevent further erosion.
Sincerely,
Jamil Changlee
Chairman
The Cooperative Republicans of Guyana
