Central bank financing spells trouble for Guyana – IMF
Fund warns central bank financing of government could create problems for monetary policy
The International Monetary Fund has warned Guyana’s authorities to “carefully manage” their short-term financing, and not rely on the central bank for funds.
“Private external borrowing should continue to be avoided, and central bank financing should not be used at all,” the IMF’s directors said in the country’s latest Article IV consultation.
Since March this year, the Guyanese government has maintained an outstanding balance at the central bank of around 6% of GDP, an increase of 3% from
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