Illegal trade of foreign currency

first_imgDear Editor,Officials of the Bank of Guyana (BoG) and the Guyana Revenue Authority (GRA) need to be aware that the illegal trade of foreign currency appears to be very active among merchants and migrants from other countries, which may be a contributing factor to the reduced value of the Guyana dollar.Over the past month, I witnessed illegal activities first hand in two stores that I had only briefly visited.At one store on Regent Street, Georgetown, close to Regent Street, a Cuban national purchased several items which were paid for in US dollars.The goods, which were originally priced in Guyana dollars, were converted to US dollar equivalent at an exchange rate that was not aligned to those of the BoG, local commercial banks, or Cambios. Since I was next in line behind the Cuban customer, witnessing the transaction was inevitable. When my turn came to pay for my purchase, I curiously asked the female money collector, who appeared to be of Chinese origin working in concert with some persons of suspected Indian or Bangladeshi origin, if I could pay in US dollars too. Her curt response was, “Not for you! Not for you”.I continued my probe by asking her if she had a Cambio Licence and she responded in dismissive fashion by saying that she did not understand me. I left the store without desiring to press the matter further.The next occurrence of this type of activity was observed again on Regent Street, but closer to Albert Street, in a hardware store. A group of Spanish-speaking men and women entered the store under the guidance of a Guyanese man.They were escorted to a section of the store where a man of Chinese origin, who apparently owns or manages the store, proceeded to purchase sums of US currency from the foreigners. I looked around in the store, then went outside, inquisitively searching for any sign that the store operated Cambio services. However, there was none.I also heard stories from usually reliable sources about a store on Robb Street where mainly Cubans and Venezuelans are selectively invited to enter during the early morning hours. The grilled doors are then closed to permit the foreign nationals to conduct purchases using US dollars.If this is the usual and daily practice by shop and store owners who bypass, evade, and subvert the established regulatory financial system in Guyana, the reduced value of local currency compared to the US dollar is merely a symptom of a much larger problem that officials need to extensively investigate in order to restore order, the value, and stability of the Guyana dollar.Yours faithfully,Orette Cuttinglast_img read more

2018 National Farm Machinery Show Photo Highlights

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The Kentucky FFA is benefitting from a CAT skidloader with a unique FFA-oriented paint job. Combines are always a hot topic at the National Farm Machinery Show, including the Gleaner which gained a notable crowd throughout the show. The inside of the Gleaner S97 Combine. Seed Consultants representatives stayed busy talking with curious attendees. John Deere celebrated 100 years of the powered tractor at the National Farm Machinery Show. Dale broadcasted Thursday’s midday show from the InstaGro booth on Thursday.last_img read more

Ohio Ag Weather and Forecast — May 24, 2018

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The forecast pattern is unchanged this morning, with dry weather in full control for today, tomorrow and most of Saturday morning. Saturday afternoon, action begins to develop across Ohio. Sunday looks to be the day where we see wholesale spreading of moisture into and across the state. It starts as hit and miss showers and we end up seeing several well-organized waves move through. Rain coverage for Sunday will be about 80% of Ohio. WE continue to see scattered showers move through for Memorial Day on Monday as well, but coverage pulls back to only 40%. Combined, we can see rains of .25”-.5” over 75% of the state for Sunday and Monday of the holiday weekend. This represents a lowering of the upper end of our forecasted range from yesterday, as we do not think there as big of a threat of thunderstorms. A few showers may still pop up over far eastern Ohio into early Tuesday, but action really will be dying down and moving away by then. The map above shows rain totals through the holiday weekend, ending Monday night.  Next week we are keeping dry weather in for the Tuesday-Thursday time frame. A tropical storm looks to move into Louisiana and will not have the strength to move up into the eastern corn belt. Our next system arrives later on Friday the 1st, lasting into early the 3rd, Rain totals from the first early wave are minor at .25”-.5” over 60% of the state, but we are seeing signs of a second push that could bring up to 1 inch for the overnight of the 2nd into early the 3rd. That wave would push rain totals for the event to 90% of Indiana.  For the rest of the 11-16-day window we see a dry start to the week of the 4th, but still have a minor front working in around midweek that week, for the 6th. The front can bring up to half an inch of moisture with 70% coverage. Temps remain mostly normal to slightly above normal for the period.last_img read more

CBSE amends affiliation by-laws, leaves infrastructural audit to states

first_imgNew Delhi, Oct 18 (PTI) The Central Board of Secondary Education (CBSE) has revamped its norms for granting affiliation to schools, leaving the onus of the infrastructural audit on states and limiting its own role to academic quality monitoring.Union HRD Minister Prakash Javadekar announced Thursday that the affiliation by-laws of the CBSE have been completely revamped to ensure speed, transparency, hassle-free procedures and ease of doing business with the board.”The new by-laws denote a major shift from the highly complex procedures followed earlier to a simplified system based on preventing duplication of processes. At present, for issuing recognition under the RTE Act and the NOC, the state education administration verifies various certificates to be obtained from local bodies, revenue and cooperative departments. CBSE re-verifies them after the applications are received and hence the process becomes long drawn,” he told reporters here.”The board will now not revisit any of the aspects vetted by the state during its inspection and the delay due to scrutiny and non-compliance of deficiencies in these documents shall be drastically curtailed. Inspection of schools by the CBSE will now be outcome-based and more academic and quality-oriented,” Javadekar added.The CBSE has 20,783 schools affiliated to it across the country and abroad, with over 1.9 crore students and more than 10 lakh teachers. The affiliation by-laws were formulated in the year 1998 and were last modified in 2012.”The inspection by the CBSE will focus on academic excellence and progress of students over time, innovations and quality of pedagogy, capacity of teachers and teacher training, inclusive practices in school, quality of co-scholastic activities, whether the curricular load is as per norms and whether there is adequate emphasis on sports,” he said.advertisementAccording to the new norms, the pendency of the applications will also be dealt with seriously and the applications will henceforth be disposed of in the same year, and the entire process will be online.The new provisions mandate schools to make full disclosure of fee structure and prohibit them from levying any hidden charges, Javadekar said. PTI GJS IJTlast_img read more