Having regard to its Mission, the functions of the Bank of Guyana are as follows:
To offer advice to the Government on economic management in order to achieve the desired course of economic events and minimise or avoid inconsistencies among various governmental policy measures.
- To offer advice on the efficacy of alternative policy instruments - exchange rates, interest rates and money supply.
- To monitor the functioning of the financial system and foster its development.
- To manage the foreign exchange reserves of the nation within the context of national policy.
- To operate such accounts of the Government as are assigned to the Bank.
- To manage the internal and the external public debt.
- To issue the country's legal tender and to ensure the efficiency of the arrangements for payments and other forms of exchange.
- To co-operate with other Government agencies in facilitating international trade and payments.
FUNCTIONS AS A PUBLIC SECTOR INSTITUTION
As an institution within the public sector, the objectives of the Bank are as follows:
- To develop expertise in the management of financial institutions and the overall economy and to make such expertise available to other institutions through membership of Boards, secondment or permanent transfer arrangements.
- To develop systems of data collection, processing and analysis and to share the facilities with the rest of the public sector whenever possible.
- To develop any other skills relevant to the Bank's overall functioning and to make such skills available to the rest of the public sector.
- To operate with such efficiency as will earn the respect of the Government and the people, the banks it supervises and its international contacts.
- Within its power, to accord respect to the people of Guyana and those with whom the Bank comes in contact, in order to avoid alienating the public against the public sector institutions.