Latest update April 18th, 2024 12:59 AM
Aug 30, 2014 News
Guyana has billions of dollars overseas as assets but this has declined in the past weeks. At the end of last month, overseas financial assets for Guyana stood at $209B but this has since been reduced to $205B. The majority of Guyana’s financial assets is held internationally and currently stands at just over $130B.
$16B of this amount is held in gold while another $13B is held in overseas bank accounts.
Of the current $205B in total assets only $75B is held locally. This is according to the latest statement of assets and liabilities for the Bank of Guyana and published in the Official Gazzette.
According to that now public document, Guyana has just over $97B held in capital market securities with another $2.1B in money market securities.
Capital markets are financial markets for the buying and selling of long-term debt or equity-backed securities while money market securities is a component of the financial markets for assets involved in short-term borrowing, lending, buying and selling.
The Bank of Guyana has a total asset base of $205.7B.
The largest local asset base for the Guyana Government is securities to the tune of $42B.
A security is a tradable financial asset of any kind and can be broadly categorized into: debt securities, (e.g., banknotes, bonds and debentures) equity securities, (e.g., common stocks) derivative securities, (e.g., forwards, futures, options and swaps).
The document also points to almost $70B in bank notes in circulation locally while another $887M is in circulation in coins.
Incidentally the Statement of Asset and Liabilites in the latest publication reflects a decline in total assets. In its prior statement, Bank of Guyana listed its total assets overseas at $133B.
Its holdings in the capital market securities have also significantly declined from the $101B held at the end of July to $97B at present.
The role of the Bank of Guyana is to act as the central bank of the country.
Its primary purpose is to formulate and implement monetary policies so as to achieve and maintain price stability. The other major purpose is to foster a sound, progressive and effective financial system.
JAGDEO ADDING MORE DANGER TO GUYANA AND THE REGION
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