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$5000 note rejected by some sections of the business sector
-Deputy Governor insists the new note is serving its purpose
The $5,000 was put into circulation on December 9, 2013. While the note has been accepted by large companies and commercial banks, shops, minibuses and taxies and stall holders in the market have not only complained about the note, but have rejected it.
Some minibus drivers complained bitterly about the fact that the note puts a huge strain on them to make “change.”
One driver said, “I honestly don’t understand what is de purpose of this new money that they put into this system because it is stressful to deal with people that bringing a set of $5000 notes. It is ridiculous to deal with
The $5000 note
and I put a ban on it. I am not accepting it.”
Several other drivers were faced with the dilemma of finding change for each of six passengers who presented the note.
“As they bring in this money I think the government should put more of the smaller notes into the system. This really stressful and we would like them to explain how this helping the man that got to struggle everyday and sometimes don’t have enough money to make the change.
“How they helping the poorer man with this? Is like this new money is only for people that earning the big money and when it trickles down to we, we have to feel the pressure.”
Some local vendors at the Stabroek Market and even at the Bourda Market also expressed their concern at the way in which it puts a strain on their business and even their fears.
One vendor explained, “Now it is already hard to find change for this big money. And sometimes when you try to flex with the customers you find yourself in a situation where you end up with a set of $5000 notes and li’l bit change.
“Now I reject it not because of change alone but to tell you the truth I don’t even know how to really know if the money fake or not. I ain’t want to get shafted so I don’t take it at all.”
A herbalist at the Stabroek Market said, “You know the first day I collect this money from a lady that came to by lemon grass from me she mek me fuh know how she ain’t got no change and all she got is the green money. I take it and then when I went into the cambio to buy some US dollars the other day they told me how the money is mock. I was like ‘never again’.
“I don’t know how to know this money real or fake. It so fancy with all these symbols I can’t memorize all these things. I would appreciate if the Ministry of Finance or whichever Ministry in charge can come and hold some seminar or a programme and educate us on how we could identify the real thing. So we don’t want it.”
Some local shops have said that they will not accept the $5000 note, regardless of the circumstance. Some have even gone to the point of placing signboards up on their shop with their rejection.
Deputy Governor of the Bank of Guyana said, yesterday, that while he has not heard any complaints the $5000 note is serving its purpose.
Chairman of the Private Sector Commission, Ron Webster, said “I can understand that it may pose difficult for the local market vendors to produce change but I think it’s all a matter of commonsense when it comes to buying goods and when to use the note.”
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