Chronology of Annual Conferences of Caribbean Group of Bank Supervisors
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Annual Report 2020 2 REPUBLIC BANK (GUYANA) LIMITED ANNUAL REPORT 1
1 Annual Report 2020 2 REPUBLIC BANK (GUYANA) LIMITED ANNUAL REPORT 1 While we were at home being safe, the world started to look differently. For us, it was a time of change as well. We had to adapt to our transformed lives. We found new ways to work, to learn, to be together. We found a new perspective on ourselves, our neighbours, our country and the world. As a Group, we affirmed the hope that we could maintain the lives we built. So we found solutions to serve the unique needs of this time. We found ways to support our customers’ financing, increased our digital offerings, and changed our in-branch approach to be socially distant yet fully committed. At every step, and across all our territories, we kept a positive outlook. For we wanted all our communities to keep believing that a great future is, and always will be, ours. 2 REPUBLIC BANK (GUYANA) LIMITED ANNUAL REPORT The Bank at a Glance About Us Total Assets ($ Billion) 250 Established in 1836, Republic Bank (Guyana) 205.3 180.2 168.2 146.2 151.6 Limited is one of Guyana’s longest-serving institutions and is a recognised leader in the 200 provision of financial services. Over the past year, the Bank has concentrated on growing its lending portfolio, with particular emphasis 150 on small and medium enterprises. The Bank remains committed to providing customised, efficient and competitively priced financial 100 services, and to maintaining a philosophy of social investment in Guyana. 50 0 2020 2019 2018 2017 2016 Operating Branches Profit After Tax ($ Million) 5,000 3,494.6 3,845.8 3,134.0 2,738.9 2,703.0 Anna Regina Vreed-en-Hoop 4,000 Diamond Camp Street New Amsterdam Water Street Rose Hall Triumph D’Edward 3,000 Linden Corriverton 2,000 Lethem 1,000 0 2020 2019 2018 2017 2016 3 Share Price ($) Network 2020 370. -
Audit Office of Guyana
AUDIT OFFICE OF GUYANA Promoting Good Governance, Transparency and Improved Public Accountability REPORT OF THE AUDITOR GENERAL ON THE PUBLIC ACCOUNTS OF GUYANA AND ON THE ACCOUNTS OF THE MINISTRIES/DEPARTMENTS/REGIONS FOR THE FISCAL YEAR ENDED 31 DECEMBER 2008 31 March 2010 Hon. Ralph Ramkarran, S.C., M.P. Speaker of the National Assembly Public Buildings Avenue of the Republic Georgetown. Dear Mr. Speaker, REPORT OF THE AUDITOR GENERAL ON THE PUBLIC ACCOUNTS OF GUYANA AND ON THE ACCOUNTS OF MINISTRIES, DEPARTMENTS AND REGIONS FOR THE FISCAL YEAR ENDED 31 DECEMBER 2008 In accordance with Article 223(3) of the Constitution of the Republic of Guyana, I am pleased to submit the attached report on the Public Accounts of Guyana and on the Accounts of the Ministries/Departments/Regions for the fiscal year ended 31 December 2008. The report is required to be laid before the National Assembly, and I would very much appreciate if this is done at the earliest opportunity. With best regards. Yours sincerely, DEODAT SHARMA AUDITOR GENERAL (ag.) MISSION STATEMENT As the Supreme Audit Institution of the State we are committed to the promotion of good governance including openness, transparency and improved public accountability through: 1. the execution of high quality audits of the public accounts, entities and projects assigned by the Audit Act; 2. timely reporting of the results to the legislature and ultimately the public; 3. ensuring that the independence, integrity and objectivity of the Audit Office is recognised; 4. the provision of cost effective service by the implementation of the most up-to-date Audit Practices; 5. -
PRESS RELEASE June 4, 2021
PRESS RELEASE June 4, 2021 ___________________________________________________________________________ CARICOM Central Bank Governors discuss a collective approach to addressing the macro-financial challenges posed by the Covid-19 pandemic The 56th Bi-annual meeting of the CARICOM Committee of Central Bank Governors* was1held on June 4, 2021. Governors assessed the situation in individual territories and the economic outlook in light of difficulties experienced by Caribbean countries in acquiring much needed vaccines and severe fiscal constraints. The Committee analyzed the International Monetary Fund’s (IMF) impending allocation of additional Special Drawing Rights as part of international efforts to boost liquidity; the possible pathways to sovereign debt sustainability for Caribbean economies; and options to strengthen Caribbean intra- regional payments. Governors also discussed ongoing collaboration in several spheres including: coordinated economic research on priority areas; joint efforts to assure financial stability across the region; information sharing to deal with threats to cybersecurity; and bolstering the Caribbean’s influence in wider regional and international financial institutions. Representatives from the IMF and Caribbean Development Bank shared their perspectives on the current challenges faced by the region. 1 * The meeting was hosted virtually by the current Chairman, Governor Alvin Hilaire of the Central Bank of Trinidad and Tobago. Other Committee members are: Mrs. Janet R. Semeleer (Governor, Central Bank van Aruba), Mr. John Rolle (Governor, Central Bank of The Bahamas), Mr. Cleviston Haynes (Governor, Central Bank of Barbados), Mr. Gustavo Manuel Vasquez (Governor, Central Bank of Belize), Mr. Richard Doornbosch (President, Central Bank of Curaçao and Sint Maarten), Dr. Timothy Antoine (Governor, Eastern Caribbean Central Bank), Dr. Gobind Ganga (Governor, Bank of Guyana), Mr. -
List of Certain Foreign Institutions Classified As Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms
NOT FOR PUBLICATION DEPARTMENT OF THE TREASURY JANUARY 2001 Revised Aug. 2002, May 2004, May 2005, May/July 2006, June 2007 List of Certain Foreign Institutions classified as Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms The attached list of foreign institutions, which conform to the definition of foreign official institutions on the Treasury International Capital (TIC) Forms, supersedes all previous lists. The definition of foreign official institutions is: "FOREIGN OFFICIAL INSTITUTIONS (FOI) include the following: 1. Treasuries, including ministries of finance, or corresponding departments of national governments; central banks, including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; and diplomatic and consular establishments and other departments and agencies of national governments. 2. International and regional organizations. 3. Banks, corporations, or other agencies (including development banks and other institutions that are majority-owned by central governments) that are fiscal agents of national governments and perform activities similar to those of a treasury, central bank, stabilization fund, or exchange control authority." Although the attached list includes the major foreign official institutions which have come to the attention of the Federal Reserve Banks and the Department of the Treasury, it does not purport to be exhaustive. Whenever a question arises whether or not an institution should, in accordance with the instructions on the TIC forms, be classified as official, the Federal Reserve Bank with which you file reports should be consulted. It should be noted that the list does not in every case include all alternative names applying to the same institution. -
Contents Messages
CONTENTS MESSAGES ARTISTIC VISION BACKGROUND ELEMENTS OF THE FESTIVAL MAIN VENUES ORGANIZATIONAL STRUCTURE ACCOMMODATION ACCREDITATION CULINARY ARTS DANCE DRAMA FASHION FILM LITERARY ARTS MUSIC PHILATELIC ARTS SECURITY SYMPOSIA TRANSPORTATION VISUAL ARTS YOUTH VILLAGE FORMS APPENDICES PRESIDENT’S MESSAGE The Caribbean Festival of Arts (CARIFESTA) was born in Guyana many years ago. As the festival comes home, we welcome the opportunity to host and to embrace the artists, great creators and minds of the region as we did thirty six years ago. We are sparing no effort in preparing for this festival. Several hundred persons have been working over a long period of time on committees and working groups in order to ensure that all your expectations are met once you and your contingents arrive in our country. This underscores not only the importance we attach to this festival but to the ideal of Caribbean unity, growth and prosperity. Art transcends all barriers of time, space and person. Artists look beyond the externalities of the common and obvious, toward something greater in all humans, toward something larger than all humans. CARIFESTA therefore offers us the opportunity of transcending those things which can blind, limit and divide us as people, as nations and as a region. This festival offers us the opportunity to assess where we are, where we want to go and to fashion that direction in no uncertain terms. CARIFESTA X offers our region a chance to see what we are and what we produce, and to showcase that creativity to ourselves and the world. At this very important juncture in global economic history we must own what we originate and support those who create. -
Tax Relief Country: Italy Security: Intesa Sanpaolo S.P.A
Important Notice The Depository Trust Company B #: 15497-21 Date: August 24, 2021 To: All Participants Category: Tax Relief, Distributions From: International Services Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers Tax Relief Country: Italy Security: Intesa Sanpaolo S.p.A. CUSIPs: 46115HAU1 Subject: Record Date: 9/2/2021 Payable Date: 9/17/2021 CA Web Instruction Deadline: 9/16/2021 8:00 PM (E.T.) Participants can use DTC’s Corporate Actions Web (CA Web) service to certify all or a portion of their position entitled to the applicable withholding tax rate. Participants are urged to consult TaxInfo before certifying their instructions over CA Web. Important: Prior to certifying tax withholding instructions, participants are urged to read, understand and comply with the information in the Legal Conditions category found on TaxInfo over the CA Web. ***Please read this Important Notice fully to ensure that the self-certification document is sent to the agent by the indicated deadline*** Questions regarding this Important Notice may be directed to Acupay at +1 212-422-1222. Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy, timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions, delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any special, consequential, exemplary, incidental or punitive damages. -
Cooperative Republic of Guyana Public Debt Annual Report 2020
COOPERATIVE REPUBLIC OF GUYANA PUBLIC DEBT ANNUAL REPORT 2020 MINISTRY OF FINANCE as at December 31, 2020 Hon. Dr. Ashni Singh Senior Minister in the Office of the President With Responsibility for Finance Mr. Sukrishnalall Pasha Finance Secretary Ms. Sonya Roopnauth Director, Office of the Budget Ms. Donna Yearwood Head, Debt Management Division Staff of Debt Management Division Eleeni Komal-Persaud Joel Joseph Drecina Fraser Shaquille Pompey Lavern Lawrence Dawn Browman Guyana Public Debt Annual Report 2020, Ministry of Finance, Cooperative Republic of Guyana, Issue 6 Website: www.finance.gov.gy Guyana Public Debt Annual Report is a yearly publication of the Debt Management Division, Office of the Budget, Ministry of Finance. Reproduction in full or in part is permitted provided the source is given proper credit Message from the Minister of Finance It is my distinct privilege to present to the general public, this Sixth Edition of Guyana’s Public Debt Annual Report, and the second since the incumbent administration resumed office, in August of 2020. The timely publication of this report is not by mere happenstance but is rather indicative of our government’s commitment to transparency and accountability in the management of Guyana’s fiscal affairs. Our return to the seat of governance, after a 5-year hiatus, came against the backdrop of a rampant COVID-19 pandemic and a protracted elections impasse, which together weighed on economic activity. These events resulted in a decline in government revenues relative to the preceding year, along with an unanticipated increase in fiscal expenditure. Consequently, in 2020, central government registered a deficit equivalent to 9.4 percent of GDP. -
1 to Dollarize Or Not to Dollarize: the CBA's Point of View Ladies And
To dollarize or not to dollarize: the CBA’s point of view Speech by Jeanette R. Semeleer, President of the Centrale Bank van Aruba (CBA), at the Dollarization conference “Opportunities and Risks of Dollarization for the Dutch Caribbean”, organized by the Minister of Finance of the Netherlands Antilles, Curaçao, Bank van de Nederlandse Antillen, August 24, 2009. Ladies and gentleman, good morning! 1. Introduction I am truly honored to have been invited to speak to such a distinguished audience on a topic that touches everyone’s wallet, and that is dollarization. With dollarization in this context I refer to as the use of the US dollar as the exclusive legal tender in a country. I must admit that at the Central Bank of Aruba, although we have regular bilateral meetings, we have been quite surprised with the recent consideration of the BNA to replace the Netherlands Antillean guilder for U.S. dollars as the legal tender for the island of Curaçao on a very short term. In view of the far‐reaching consequences of such a change, possibly for Aruba too, I highly applaud Mrs. De Lanooy’s initiative to organize a forum of experts, which could enlighten us further on a rather complicated issue. At the end, it is of crucial importance that the required political decision is based on a thorough assessment of the opportunities and risks associated with dollarization. In the next few minutes I will first clarify my view regarding dollarization in general and, subsequently, I will briefly focus on the special case of small island economies like Aruba and the Netherlands Antilles. -
OECD International Network on Financial Education
OECD International Network on Financial Education Membership lists as at May 2020 Full members ........................................................................................................................ 1 Regular members ................................................................................................................. 3 Associate (full) member ....................................................................................................... 6 Associate (regular) members ............................................................................................... 6 Affiliate members ................................................................................................................. 6 More information about the OECD/INFE is available online at: www.oecd.org/finance/financial-education.htm │ 1 Full members Angola Capital Market Commission Armenia Office of the Financial System Mediator Central Bank Australia Australian Securities and Investments Commission Austria Central Bank of Austria (OeNB) Bangladesh Microcredit Regulatory Authority, Ministry of Finance Belgium Financial Services and Markets Authority Brazil Central Bank of Brazil Securities and Exchange Commission (CVM) Brunei Darussalam Autoriti Monetari Brunei Darussalam Bulgaria Ministry of Finance Canada Financial Consumer Agency of Canada Chile Comisión para el Mercado Financiero China (People’s Republic of) China Banking and Insurance Regulatory Commission Czech Republic Ministry of Finance Estonia Ministry of Finance Finland Bank -
Green State Development Strategy: Vision 2040
Diversified, Resilient, Low-carbon, People-centred VOLUME I POLICY RECOMMENDATIONS, FINANCIAL MECHANISM & IMPLEMENTATION An inclusive and prosperous Guyana that provides a good quality of life for all its citizens “ based on sound education and social protection, low-carbon resilient development, new economic opportunities, justice, and political empowerment. ” Executive Summary Background The Green State Development Strategy: Vision 2040 is Guyana’s twenty-year, national development policy that reflects the guiding vision and principles of the ‘green agenda’: “An inclusive and prosperous Guyana that provides a good quality of life for all its citizens based on sound education and social protection, low-carbon and resilient development, providing new economic opportunities, justice and political empowerment.” The central objective is development that provides a better quality of life for all Guyanese derived from the country’s natural wealth – its diversity of people and abundant natural resources (land, water, forests, mineral and aggregates, biodiversity). The vision of the ‘green agenda’ is centred on principles of a green economy defined by sustainable, low-carbon and resilient development that uses its resources efficiently, and sustained over generations. The development philosophy emphasises the importance of a more cohesive society based on principles of equity and tolerance between ethnic groups – recognising that diversity of culture and heritage is the underlying strength of the country’s human capital. Development objectives therefore seek to improve the health, education and overall well-being of Guyanese citizens, to lift people out of poverty through an economy that generates decent jobs and that provides opportunities for sustaining livelihoods over the long term. For decades, geopolitical events, natural disasters and global commodity price swings have weighed upon Guyana’s development. -
Budget Speech 1991
PROTECTING THE FOUNDATIONS FOR FUTURE GR_OWTH: freedom, stability and development in the 1990' s FEIIIUAIIY ao,1111 BUDGET SPEECH NATIONAL ASSEMBLY CO-OPERATIVEOF REPUBUC GUYANA GUYANA SESSIONAL PAPER NO. 1 OF 1991 FIFTH PARLIAMENT OF GUYANA UNDER THE CONSTITUTION OF GUYANA Second Session 1990-1991 BUDGET SPEECH -------------------------------- Cde Carl B. Greenidge, M.P., Minister of Finance 20th February, 1991 GUYANA SESSIONAL PAPER NO. 1 OF 1991 FIFTH PARLIAMENT OF GUYANA UNDER THE CONSTITUTION OF GUYANA First Session 1986-1991 BUDGET SPKKCH Cde. Carl B. Greenidge, M.P., Minister of Finance February 20th, 1991 (i) C O N T E N T S THEME: PROTECTING THE FOUNDATIONS FOR FUTURE GROWTH: freedom, stability and development in the 1990's PAGE CHAPTER 1 THE EVOLVING ERP A. INTRODUCTION 1 B. DIALOGUE :3 C. KEY PROBLEM AREAS 4 CHAPTER 2 1990 PERFORMANCE 8 A. 1990 TARGETS AND PERFORMANCE 1. Production and GDP 2. Balance of Payments a Current Account b. Capital Account c. Overall Balance and its Financing PAGE 3. Fiscal Performance 14 a. Public Sector b. Rescheduling of External Debt c. Investment Initiatives 4. Monetary and Credit Aggregates 19 a Introduction b. Domestic Credit c. Credit to Central Government (net) d. Credit to Public Enterprises e. Credit to Private Sector f. Monetary Expansion g. Money and Quasi-money 5. Foreign Exchange Market 24 6. Foreign Exchange Reserves 28 7. Agreements and Targets under the Aegis of the Support Group 29 B. OUTSTANDING PROBLEMS 33 PAGE CHAPTER 3 KEY TASKS AND POLICIES: 1991 38 a. Introduction b. Human Resource Challenges (i) Retaining and Motivating Workers c. -
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KINGDOM OF THE NETHERLANDS—ARUBA STAFF REPORT FOR THE 2021 ARTICLE IV CONSULTATION March 31, 2021 DISCUSSIONS—INFORMATIONAL ANNEX Prepared by Western Hemisphere Department CONTENTS F UND R EL AT IONS ________________________________ _____________________________________________ 2 ST AT IST ICAL ISSUE S ________________________________________________________________ __________ 5 ©International Monetary Fund. Not for Redistribution KINGDOM OF THE NETHERLANDS—ARUBA FUND RELATIONS (As of January 28, 2021) Membership Status The Kingdom of the Netherlands joined the Fund on December 27, 1945. On February 15, 1961, The Kingdom accepted the obligations of Article VIII, Section 2, 3, and 4 of the Articles of Agreement for all territories. General Resources Account SDR Million Percent of Quota Quota 8,736.50 100.00 Fund Holding of Currency 6902.44 79.01 Reserve Tranche Position 1,835.66 21.01 Percent SDR Department SDR Million Allocation Net cumulative allocation 4,836.63 100.00 Holdings 4,907.40 101.46 Outstanding Purchases and Loans: None Latest Financial Arrangements: None Projected Obligations to Fund (SDR million; based on existing use of resources and present holdings of SDRs): Forthcoming 2021 2022 2023 2024 2025 Principal . Charges/Interest 0.06 0.06 0.06 0.06 0.06 Total 0.06 0.06 0.06 0.06 0.06 Implementation of HIPC Initiative Not Applicable Implementation of Multilateral Debt Relief Initiative (MDRI) Not Applicable Implementation of Post-Catastrophe Debt Relief (CCR) Not Applicable Exchange Rate Arrangements Aruba has a conventional peg; the Aruban florin has been pegged to the U.S. dollar at Afl. 1.79 per U.S. dollar since January 1, 1986.