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The banks should tread carefully
Dear Editor,
I read recently about a bank in Guyana having “more money in its reserves than it knows what to do with”.
For the moment, perhaps, but I wish I could be as confident and optimistic about ‘splashing out’ on over-ambitious projects involving loads of money.
I have a feeling that the present recession (globally) will continue for several years to come. In financial circles, China is often mentioned as a shining example of a country with a seemingly unlimited amount of money to invest. Don’t be too sure about that remaining so indefinitely.
The world is now witnessing more than a replay of the Grapes of Wrath period of 1929/30. However, the human spirit being what it is, we may all emerge stronger in the long run and learn to re-organise our priorities.
In the meantime, those with a lot of money in their reserves should tread very carefully in how they invest or use it.
Geralda Dennison
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