Dr Gobin Ganga

…even as gold and dollar are weak

President Donald Ramotar said the post of Bank of Guyana Governor will be not filled immediately, and will only be done after extensive discussions.

 The position was left vacant on May 7 following the passing of Governor Lawrence Williams.

 Speaking with Guyana Times on Friday evening, the President related that while an appointment will have to be made, this will not be done immediately, citing the need for discussions to be held.

 “The appointment will not be made for now. Give it some time. It is an issue which requires quite some discussion and that discussion cannot be held right now,” the President said.

Bank of Guyana Governor

President Ramotar did indicate, however, that Deputy Governor, Dr Gobind Ganga will be taking over the reins and performing the duties and responsibilities of Governor for the time being.

Asked whether Dr Ganga is likely to be given the post, the President, who is by law required to make the appointment within six months, related that he cannot make such a pronouncement just yet.

Meanwhile, Guyana Times has been reliably informed that Dr Ganga has been tipped to be appointed to the position of Governor.

Several individuals,  from the financial community contacted by this newspaper, disclosed that they believe the appointment of Dr Ganga as the next Governor must be done sooner than later.

Pointing out that the Guyana dollar has been under pressure recently, linked to factors such as the precipitate fall in the price of gold as well as the continued shortfall in sugar production (based on installed capacity), the experts pointed out that it was imperative the domestic and international financial communities see that the Central Bank is in firm hands. An “acting” appointment, they believe, will not address this need.

Dr Ganga completed his Bachelor of Art Degree in Economics and Administrative Studies at the University of Winnipeg in 1981, his Master’s in Economics in 1983 and a PhD in Economics in 1988 at the University of Manitoba.

He was a lecturer and Senior Research Fellow at his alma mater. He was also a lecturer in Economics at the University of West Indies, Mona Campus, in Jamaica, an Adjunct Professor at the Consortium Graduate School at Mona, Jamaica and a Senior Researcher/Senior Lecturer at the University of Guyana, Turkeyen Campus.

 In 1995, Dr Ganga was appointed Director of the Research Department at the Bank of Guyana. He held that position until November 2003, when he was appointed Alternate Executive Director at the World Bank in Washington, DC, representing 10 Caribbean territories along with Canada and Ireland.

 In June 2005, Dr Ganga was appointed Deputy Governor at the Bank of Guyana.

 However, he was only able to take up his appointment after completing his term at the World Bank in the same year, a position he still holds nine years later.

 Dr Ganga has a wealth of central banking experience. He has written and published many articles on a wide variety of economic issues, including monetary policy and macroeconomics.