In a decisive move to address the escalating outflow of US dollars, Guyana has unveiled a robust nine-point foreign exchange control plan. President Irfaan Ali announced the measures on September 30, 2025, following a high-level meeting with key stakeholders, including the Bank of Guyana, the Guyana Revenue Authority (GRA), and representatives from commercial banks. The plan aims to curb the outflow of foreign currency, which has surged to approximately US$1.2 billion in 2025, nearly quadrupling from the previous year. Among the key measures, importers will now be required to submit detailed documentation, including commercial invoices and bills of lading, to commercial banks before foreign exchange payments are released. This step is designed to enhance transparency and prevent system abuse. Additionally, commercial banks will closely monitor credit card usage to ensure that personal cards are not being used for business transactions. President Ali highlighted a significant increase in credit card transactions, which rose from US$91.3 million in 2023 to US$347.5 million in 2024, with 2025 already recording US$252 million. The Central Bank has also intervened in the foreign exchange market, providing US$332 million in 2024 and US$1.2 billion in 2025, with an additional US$160 million pending. The new measures also include stricter penalties for inflated invoicing and capital flight, mandatory local bank accounts for entities in the oil and gas sector, and the establishment of a single-window post-clearing system at the Central Bank. The commercial banks have expressed their support for the plan, which they believe will alleviate some of the challenges they currently face.