Later in the afternoon, assembly member Mahinder Jogi (VHP) anticipates President Chan Santokhi will explain the situation with the exchange rate in a straightforward and understandable manner. The president must also outline the strategy for controlling the currency rate. Jogi claimed during a media interview that the exchange rate determines how everything in the nation performs. That affects how the economy is doing. The people can’t stand the exorbitant exchange rate. There is not much optimism for the future.
The government must propose specific actions. Consumers demand to see results. The nation as a whole is in poverty as a result of the high costs in the stores. The president must tell Jogi the truth. It will be extremely difficult to support the government if the share price does not decrease. The president’s platform from last October has not been successful. As there are too many groups, each with its own interests, the intended course-correction has not occurred. According to Jogi, the president has control over the monetary authorities, which must regulate the currency rate.
Jogi claims that internet betting shops are another popular issue driving up prices. As a result of converting the many millions generated into foreign money, the exchange rate is also increased. The assemblyman claims such games are played every day and cost a lot of money. The National Assembly may be asked by the administration to strengthen the legislation. Also on his mind is the fate of the Open Market Operations monies. The banking institutions have received interest payments totaling more than one billion.
Jogi wants everyone to understand what is going to happen to the course. He anticipates the president to propose concrete, instantly implementable steps. Waiting any longer would be a mistake given how critical the situation is. Last Monday, the National Assembly made the decision to postpone the meetings until the government makes clear the plan of action.
