Georgetown: The Governor of the Bank of Guyana (BOG), Lawrence Williams lost his battle with cancer Wednesday morning after serving in that position since 2005.
The Governor took Office over 25 years ago.
In 1979, just after successfully completing the Bachelors of Social Sciences Degree (Management) he joined the staff of the Bank as an Assistant Principal in the Exchange Control Department where he held major responsibility for implementing and maintaining the system for monitoring exports and collection of export receipts.
Subsequently, in 1982 he was appointed as a Principal, at which level he undertook the accounting and investment function of the Export Development Fund. In January 1984 Mr. Williams was appointed Supervisor, Export Development Fund. His duties included day to day management of the World Bank funded project which provided the foreign currency financing for non-traditional exporters to meet the cost of imported input of raw materials, capital and intermediate goods. During the six years that Mr. Williams served as Supervisor he acquired considerable experience in foreign exchange management and investments.
Consequently in January 1991 he rose to the position of Senior Supervisor Exchange Control Department. However, his stay there was short lived, since by the following January he was named Assistant Head, Debt Management and Exchange Control Department where he held major responsibility for the domestic debt operations and the administration of exchange controls.
Soon after, in January 1995, Mr. Williams was appointed Director, Operations Department. There he held day to day responsibility for the management of the Banking, Currency and Money Market Divisions. His vast experience over the years especially in managing the Export Development Fund, coupled with his exposure at the Debt Management and Exchange Control Department prepared him for even greater challenges.
In August 1995 Mr. Lawrence Williams was appointed Banking Manager by the Minister of Finance. At this level he was responsible for overseeing the operational departments of the Bank (Accounts & Budgeting Department, International Department, Banking, Currency and Money Market Divisions). In addition to other duties, he chaired a number of Standing Committees and was also a Trustee of the Staff Pension Scheme.
In November 2004 Mr. Williams was appointed Governor (ag.) by the President of Guyana. On Wednesday, June 8, 2005 Mr. Williams was sworn in as Governor, Bank of Guyana, by the President. As the Chief Executive Officer, he is responsible for the overall management of the Bank. As Governor he is also Chairman of the Board of Directors. At this forum he is responsible for guiding the deliberations of the Board with a view to ensuring the achievement of the Bank’s principal objectives of fostering monetary stability and promoting credit conditions conducive to growth.
Earlier in his career Mr. Williams was a member of the Guyana Gold Board and the Guyana Rice Export Board. He has also attended a number of professional training programmes as well as numerous seminars, conferences and meetings including CARICOM Central Banks Governors’ Conferences.
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