The value of the Guyana dollar in 2024
Vložit
- čas přidán 12. 09. 2024
- In this video I describe the projections for GDP growth of the Guyanese economy for 2024. I explain why the Guyana dollar should increase in value since it is now backed by petroleum and the sovereign wealth fund which should increase to 3 billion USD by the end of 2024. The GDP for Guyana will surpass 20 billion USD for the first time in 2024 and could reach 27 billion USD which will be grater that that of Trinidad and Tobago making Guyana the richest nation in the Caribbean.
#money #petrodollar #oil #economy
Welcome back! That's true. It's time we revalue our dollar. The government is keeping it this way because they want to continue in corruption. The people of Guyana should benefit from this extraordinary growth but they are not feeling it because of a weak dollar. If the government should revalue our dollar commodity prices will become affordable for all people in Guyana.
$1 to $99 should be rebranded as cents and $100 should be rebranded as $1.
Raphael, you are só right. During the Apnu administration with Prestdent Granger as President and President of Caricum, i sent this Idea buy It was by-passed. If the Guyana dollar becomes equal tô the U.S dollar or the Eastern Caribbean dollar, the whole population Will bê eating 4 meals a day of the best quality. Because 1 pint of Rice Will bê 1dollar and 1pound of sugar Will bê about 1.50 centos .
True
Well presented economic concept on the Guyana's economy and its dollar value. Great to see you again, Ralph. Happy New Year. ❤
Raising the value of the Guyana 🇬🇾 dollar will do Guyana more good when importing
True
You looking sharp, budhay !
I love your optimism
What upset me more is the politicians and the government of Guyana refusal to increase wages and salaries to acceptable level for workers in Guyana. I believe that the IMF recent report list Guyana has the 10th richest economy in the world with a GDP of $78,860 and the 9th richest economy is the United States of America with a $83,063. This all means that Guyana has the means and money to pay acceptable wages to its citizens and workers. If the United States of America with a GDP of $83,063 is paying it’s workers an average salary or wages of $6,000 US per month, why is Guyana with a GDP of $78,680 is only paying Guyanese workers an average salary or wages of $1,000 US per month. And I know people that are still paid $400 US per month in Guyana. Another thing is cost of living in Guyana. The outrageous prices that items and products are selling for in stores and shops in Guyana. Most Guyanese that come back home to Guyana are complaining about the prices because the prices in my opinion is 21/2 times the prices for things in America. A blame it on greed. Imagine, you can buy things cheaper in America than in Guyana despite the average salary in Guyana being only $1,000 US while the average salary in America is $6,000 US. When I go to shop and store in Guyana to shop and see the prices for the things, I do keep sorry Guyanese people that are living here at home. The cost of life is outrageous and expensive here in Guyana. Guyanese need to paid acceptable wages and salaries by government and employers to offset those greedy prices that people are asked to pay in the stores and shops.
Glad I found this, I just commented asking for an update to this series.
thats right ...give us some value ...
Welcome back. Happy new year
$1 -$99 should be rebranded as cents,and $100 would be rebranded as a $1 and there you have a high valued currency.$500 and $1000 would now be $5 and $10 and if something cost $550 for example from before it will now cost $5.50c,c meaning cents.
U did mention that it is a policy decision to keep a weak dollar. Could u give any reason for such a policy.
They think a weak Guyana dollar will make exports cheaper and increase demand causing more production in Guyana which should lead to higher employment and further economic growth.
Love. Love. Love. Love. Love.
🇬🇾⭐️🙏👀. USA 🇺🇸. ☃️🌬️☃️🌬️
The EC dollar works out better for me when i use the exchange rate for the weak Guyana dollars
Mind you, I'm not saying a strong dollar will be the panacea to our myriad of problems. But it will be a start in the right direction.
need help/direction with investments
On the subject of a weak dollar. A good idea would be for the govt to give the business community to shed the US on hand before the try to strengthen our dollar. Maybe a 6mths period. I suspect that the government is looking at protecting this group. The question is how long.
I once dropped a GYD $20 in the mud at Port Kaituma. I looked at the filth and decided not to pick it up.
That right.you.talking..in.Caribbean.at.fast.rate.
Do have a dog. Having a dog best thing ever happened to me
My neighbor has several dogs. I can’t control the barking.
On 9 January 2024, Rabbit Inc announced the release of the Rabbit R1, co-designed with Teenage Engineering, a pocket assistant device that leverages a machine learning model to automate various tasks. Watch out! The next Apple in the making.
All this and no investment in human capital.
I get it what you're saying, but why is the Guyana Government getting all these Caribbean Countries so deeply involved in Guyana, all of a sudden you see Countries signing some agreement with Guyana in the field of xxxxx, I believe that all these Countries are just "as we say in our Guyanese talk" setting their mouths where the soup is leaking", I don't like that. Another thing, I feel the Government isn't doing enough for the people, I don't have an answer, but thats what I feel, that's all.
Like this one is a road corner economist .
Who is dis? Another smart Alick?
You guys get 14%? Getting ripped off don't you think?
No. The profit is 24.5% of revenue. The operating cost is 73.5% of revenue. Guyana gets 2% royalties + 12.25% profit = 14.25% of total revenue. The remaining 12.25% of profit is divided between China and the USA. As I said many times before this is a good deal.
I don't think a Rush to value the as yet
A strong dollar is not always in the best interest of a country, because a weak dollar could makes Guyana’s exports more competitive in the global market. And that is why some countries devalue their currency or dollar.
The Guyana dollar is now backed by oil and the sovereign wealth fund. There is no need for us to maintain a week currency.
@@RaphaelNation, Raphael, stop explaining big man talk to this guy, he is a kid. He doesn't understand shit. Guyana is not like Japan or China who manufacturing and export things for profits. Guyana is a raw materials supplier and her non oil exports are negligible. So keeping a weak dollar will not benefit Guyana. I remember when sugar was king and the Guyana the dollar was 1usd = 2 Guyana dollars, we had a much much better and stronger economy. Our dollar was devalue because of a lack of foreign exchange but we have long solve that problem and there is no need to keep it this way. Guyana is now rich. We need to feel this richful bounty.
So if the ppp doesn't want to do it let them get out of office and a next government do it.
@@RaphaelNationIf you notice that I did not argue with points of view or the point that you are making. I was just sharing observation of what I read that some countries do.
Good info 👍🏾. Pls change your background to something local/Guyanese 😜
Lol, he looks very organized. This could be the background of an intellectual Guyanese.
@@j.l.1391exactly the background matches the man dam personality & it doesn't concerns us what he has in his background.
I do agree! The most important thing is this man’s content in his videos. He is a smart man and explains in a detailed fashion.
@@floyarde7653 the guy has class 😊
@@SLeung-wr4hv and he has freedom of choice 😊