January 14, 1999
CENTRAL BANKS DECISION CAUSES PANIC FOR CAMBIOS
In a radio-interview yesterday, President of the Central Bank Henk Goedschalk
announced that the x-change rates at the cambios and local banks must not
be higher than 3 percent of the Central Bank's rates. This has caused quite
a stirr at the cambios because their rates will now be far lower those
on the black market. This will eventually lead to chaos and insecurity
on the foreign exchange market. Five cambio managers have already stated
that even though thePresident of the Central Bank has talked about intervention
they have not seen any evidence of this during the last month. The cambios
are concerned because since this new regulation was introduced on monday
there has been little or no activity at the cambios. The black market on
the other hand is flourishing as the illegal street vendors are paying
up to 835 for the US dollar.The rates at the cambios and the local banks
were far lower (745-755). The dollar rate is expected to be 1000 by the
ending of the month. This is indeed a bleak outlook for the cambios who
are now asking themselves what to do to survive this. The President of
the Cental Bank was nat available for comments.
PRESIDENT WIJDENBOSCH AND THE REGION
Edwin Carrington, General-Secretary of the Caricom arrived yeterday with
a delegation in Suriname. He will hold discussions with the Caricom's Chairman
Jules Wijdenbosch. He also plans to have a meeting with the Minister of
Foriegn-Affairs Errol Alibux. Codrington and entourage will alsobe present
at the first pile driving of the bridge across the Suriname River.
During his two-day visit to Cuba, President Wijdenbosch has assured
President Fidel Castro that he will not support the United States trade
embargo against Cuba. He also said that Suriname's Advisor of State, Desi
Bouterse will also support Castro against the Dutch in the matter of drugs-trafficing
Wijdenbosch, who returned yesterday from Cuba stated that his visit was
a success and that both countries will now have the opportunity to work
together in different areas.
VISITORS ARRIVING IN SURINAME WITHOUT A RETURN TICKET
WILL BE DEPORTED
The Suriname Immigration law states that every visitor entering the country
should have a return ticket in his possession, if not he is given a chance
to either purchase one or be sent back on the same plane in which he came.
Yesterday the M.P's at the Johan Adolf Airport held two Brazilians who
arrived with a one-way ticket. According to Cliff Ganpat , head of the
Military Police there are some cases where visitors without a return-ticket
were allowed to stay, in those cases a Suriname had to stand guarantee
for the visitor. This was done by the Surinamer who had to apply at the
Ministry of Foreign Affairs for a guarantee document which had to be filled
in and okayed by the Ministry before he could take it to the Airport so
that the visitor could enter the country.
So to all of you out there who are reading this and have plans to visit
our country please make a note of this to avoid unnecessary complications.
-End-