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US downgrade should strengthen the Guyanese dollar
Dear Editor,
The recent downgrade by Fitch of the US from AAA to AA+ should result in a stronger Guyanese dollar. Our economy is headed in the correct direction with both leading and lagging indicators showing positives for a strong economic outlook in both the near and long term.
Having increased buying power will be a welcomed change during this high inflation period in the global markets. Continued prudent financial management and increased returns on our investments is necessary to ensure that the strength of the Guyanese dollar has a strong base upon which to be sustained.
Our sovereign wealth fund continues to be an opportunity where increased returns can be achieved that will result in less borrowing. Thus strengthening our balance sheet and further increasing the value of our currency. A strong Guyanese dollar will also help the current construction boom in the economy and make it more affordable for new house lot owners to build their homes. This opportunity does not come along very often and we should make the most of it when it does.
Best regards,
Mr. Jamil Changlee
Chairman
The Cooperative Republicans of Guyana
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