As more projects unfold, Finance Minister invites int’l banks to Guyana

amend the laws and/or regulations that are hindering local banks from issuing more loans.

The banks, he acknowledged, continue to demand more traditional forms of collateral, such as real estate. But with the increased demand for finances, this dependence brings concerns. With this obvious challenge hindering the ability of locals to invest in their businesses and increase their participation in the growing economy, Dr. Singh said changes are necessary.

In fact, he believes that “iron clad” contracts with companies, such as major international corporations like ExxonMobil, and companies’ receivables should be enough to put up as collateral when seeking a loan.