Scotia, Baroda decisions likely underpinned by concerns about undiversified economy, regulations

Dear Editor, Now that another international bank has bet against Guyana as it rapidly approaches First Oil in 2020, we might instructively say of the motivation behind and implications of that bet, “It isn’t about market share stupid; it’s about the Dutch Disease.” I’d rather suspect however that, stricken with a singular concern about concentration in the financial sector, the sector specialists at the Bank of Guyana and the Ministry of Finance would only be worrying that Republic Bank might want to purchase Baroda.

Actually, what ScotiaBank and the Bank of Baroda have done is not so much to bet against oil rich Guyana