Friday, February 27, 2009

Jagdeo's arrogance on display 2

The Government of Guyana wishes to denounce comments carried on a blog and repeated by the Evening News last evening stating that the Guyana Bank For Trade and Industry (GBTI) has applied to the Bank of Guyana for a G$1 billion bailout, along with comments carried on a blog regarding Citizens’ Bank.

Government views these unsubstantiated and baseless comments as highly irresponsible and mischievous and wishes to state categorically that GBTI has not applied for any financial support or bailout in any form from the Bank of Guyana or any Government agency and does not face any issue requiring Government or regulatory intervention.

The comments made on Citizens’ Bank are, similarly, completely baseless and untrue.Government has noted that the Evening News has since retracted its comments and apologised for its actions, and it is hoped that other media houses and citizens will act responsibly in these matters.

Government further wishes to condemn what appears to be a coordinated attempt to cast aspersions on the strength of its financial system.

Such an approach is reckless and completely inconsistent with the practice of responsible journalism by knowledgeable professionals.

As has been reiterated by the Central Bank, Guyana’s financial system continues to be stable and the financial institutions operating in Guyana remain well-managed and financially sound.

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