PRESIDENT ALI ANNOUNCES EMERGENCY 9-POINT PLAN TO CURB FOREIGN EXCHANGE ABUSE & CAPITAL FLIGHT
Antonio Dey | HGP Nightly News.
President Irfaan Ali has declared a firm stance against foreign exchange abuse and capital flight, announcing that his administration will introduce an emergency nine-point plan to stabilize Guyana’s financial system.
The President’s move comes amid a sharp rise in demand for foreign currency and growing concerns over suspicious, high-volume transactions, including extensive use of credit cards for overseas purchases.
Dr. Ali emphasized that the government is determined to protect Guyana’s financial stability, safeguard foreign reserves, and clamp down on illicit financial activities that could undermine investor confidence.
The nine-point plan—expected to be unveiled in the coming days—will include stricter oversight of commercial banks and cambios, enhanced monitoring of digital and card-based transactions, and stronger enforcement against money laundering and currency smuggling.
According to President Ali, these measures will ensure that foreign exchange is used for genuine trade, business expansion, and development, while curbing activities that fuel capital flight or speculative hoarding.
The President also reassured the private sector and citizens that the administration’s goal is not to restrict legitimate financial activities, but to ensure a transparent, fair, and accountable system that protects the national interest.
