Glenn Lall exposes the root of Guyana’s soaring US dollar crisis

Jun 22, 2025 News

Kaieteur News Publisher, Glenn Lall

Kaieteur News – On last Monday’s explosive edition of The Glenn Lall Show, publisher and outspoken businessman, Dr. Glenn Lall, tore into the country’s top political figures and economic managers, offering a blistering exposé on the real reasons behind the US dollar’s scarcity and skyrocketing exchange rate in a country that boasts oil, gold, timber, diamonds, and bauxite.

“Guyana is not broke—it is being broke,” Lall declared, hammering home his belief that systemic plunder, corruption, and failed leadership are draining the country of its US currency and dragging the economy toward collapse.

Lall revealed that he had personally posed tough questions to cambio dealers, economists, business leaders, and even former President, Bharrat Jagdeo, as well as opposition figures, Aubrey Norton and Nigel Hughes. On his show, he played the responses of these leaders and went on to offer his own unfiltered analysis of the foreign exchange problem facing the nation.

Lall claimed that foreign interests, particularly Brazilians and Chinese buyers, have hijacked Guyana’s gold and diamond trade, offering higher prices and taking nearly all the earnings out of the country. “Ninety percent of what’s mined is not declared,” he said. “If 10% nets us over half a billion US dollars, do the math—billions are vanishing under our noses.”

He went on to explain that the same fate has befallen timber, bauxite, manganese, and other sectors. “The wealth goes out; the US dollars stay abroad. Guyana is left empty-handed—again,” Lall said. “We’ve become Haiti. We’ve become Venezuela. This is Congo in the Caribbean.”

Lall also spotlighted the growing dominance of Chinese nationals in commerce—from village shops to city wholesalers—and accused them of quietly repatriating US currency en masse. “We are literally using our oil dollars to fund our own starvation,” he warned.

“Billions in loans and oil money go into the Treasury,” Lall noted, “but most of it is siphoned through inflated contracts and shady deals. Then it gets stashed in offshore accounts—paid for in US dollars.”

Even local currency, he added, is drying up. “They swallowing everything—foreign and local dollars. And the banks can’t keep up.”

Fuel, rice, electricity, vegetables, even sugar—Guyana is importing it all, Lall said. “We’re bleeding foreign currency just to sustain the lifestyles of foreign operators while locals struggle to survive.”

Turning to oil, Lall highlighted ExxonMobil’s 2024 earnings of over US$10.4 billion compared to Guyana’s share of just US$2.6 billion. “There’s no ring-fencing, no metering, no proper oversight. This is daylight robbery,” he said.

When asked about the foreign exchange crisis, opposition leaders blamed poor oil money disbursement and neglect of non-oil sectors. “They want to fix this with cassava and yam?” Lall scoffed. “That’s not policy—that’s plantation thinking.”

Jagdeo, he said, offered vague economic theories and evasive answers. “He’s dancing around the fire while the house is burning.”

“The problem is not what’s not coming in,” Lall concluded, “it’s what’s going out—unchecked, unaccounted, and stolen. No cassava, no rice, no budget speech will solve this unless we get serious about plugging the leaks.”

“Guyana, wake up. We’re not poor—we’re being plundered. The choice is ours: continue being robbed in plain sight or demand real accountability and a new direction.”

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diamonds, dollar crisis, Glenn Lall, gold, timber, US dollar

One thought on “Glenn Lall exposes the root of Guyana’s soaring US dollar crisis”

Andrew Venton June 23, 2025 at 3:38 pm

Agreed a refrerandum to a better Deal or nationalizing the oil industry period::::!

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