RECENTLY, in various newspapers, letter sections, I saw an article by Mr. M. Azeez (businessman) suggesting that we have banknotes made to $5,000 and $10,000.00 to cater for liquidity and large amount of $1,000.00 bills in circulation, transporting of same, counting, etc.
The gentleman is right, that is one way to go.  Indeed the Ministry of Finance and Bank of Guyana must address the issue, and at the same propound Guyana into operating as a cashless society.  More and more, we are to depend less on cash. I am about to establish a new business, and plan to make it entirely cashless.  Either pay by plastic, or bank draft, or we do no business.  I believe someone has to have the pioneering spirit, and I will do it first, and make the official pronouncement of this when we launch the new business in Queen St., Kitty, in about two months time.  I will seek the assistance of the GRA if they will help.
One reason why people like cash is because it gives a feeling of power I have noted, and because some may wish to hide money from the GRA, with non-creation of paper trails.  Our company is tax-friendly, and all business we do will be so, which is why we have nothing to hide.  This will also address a serious security concern.  Bandits just cannot rob any entity without cash.  It is bad for my other security business, but excellent for the country!
When my RK’s Regional Security Service was blessed with the award of the Government Regional Security for Region 2, 3, 4, 5, and 6, over 1,600 security guards, and we told them we shall pay via the bank, were annoyed and were objecting;, they liked to wait in line to collect, spend half a day wasting time, even buying breakfast and lunch, not realising the convenience to save, the security and the good name with the bank for loans, etc.  Even the Regional Chairmen, the REO’s, and Internal Security Officers disagreed with us, saying it is the culture.  We remained adamant and said that culture is a thing that has to change for the better.  They continued with their disagreement, and we continued with our philosophy of paying via the bank.  Today, the security officers in the regions are happy and realise usefulness of paying via the bank, and even the regional administrators who disagreed, now acquiesce.
Another excellent way to go is what was done in Venezuela, and some other countries.  Reduce the zeros (0’s), but keep the value of the notes. Example would be $100.00 becoming $10.00; $500 notes become $50.00; $1,000 becomes $100.00; $5000 notes become $500, and $10,000 notes becoming $1,000.00. Or something like that, the geniuses at the Ministry of Finance and bank of Guyana, can figure it out, and I am sure the World Bank, the IDB, the IMF would lend a willing hand, not failing to mention the dynamite called Chavez of Venezuela.  The same was done in Suriname, when the entire currency was changed.  Why can’t we do the same, and eliminate the money clutter, and inviter of bandits.