President Ali says financial system reforms to take shape in coming weeks

– Gov’t committed to junior stock exchange

The government will accelerate the modernisation of Guyana’s financial architecture, including Guyana’s stock exchange, in the coming weeks.

President Dr Mohamed Irfaan Ali made the statement during the commissioning of Banks DIH’s $13.7 billion malt production plant on Sunday at Thirst Park.

As Guyana’s economy continues to grow, the president said the existing financial framework must adapt to the expanding scale and complexity of the economy.  

In the coming weeks, “will see a massive push towards the modernisation of this whole financial architecture that includes, of course, the stock market.”

A stock exchange is essentially a regulated market where shares of publicly listed companies are bought and sold, providing avenues for businesses to raise finance and for investors to profit.

As companies grow, President Ali stated that it’s important for shareholders to receive dividends and share values that match their assets and shares.

“We’ve also discussed on many occasions the importance for public accountability not only at a government level but at a corporate level,” the president said.

The government is also determined to establish a junior stock exchange.

The president said it will include consultations with private sector members who are expected to play a key role in the success of the endeavour.

These are a few of the reforms to be introduced by the People’s Progressive Party/Civic (PPP/C) Government to advance financial inclusion and empower every Guyanese to participate in, contribute to, and benefit from Guyana’s economic growth.