Bank of Guyana (BoG) Governor Lawrence Williams died on Wednesday morning, the Head of the Presidential Secretariat, Dr Roger Luncheon announced later in the day.
Williams, 59, lost his battle with cancer at a local hospital.
Finance Minister, Dr Ashni Singh, in a condolence message, said it was with great sadness that he learnt of the passing of Williams. “I offer my personal, sincere condolences to his immediate family and many friends,” Dr Singh said.
He said he and Williams shared a long professional and personal association dating back to well before Williams was appointed Governor and himself a Minister. “His elevation through the Bank and my own appointment as Minister provided us with additional opportunities to collaborate.”
Dr Singh recalled that Williams was a man defined by quiet competence, attention to detail, thoroughness, an ability to remain calm under pressure, quiet wit, sharp intelligence, and impeccable demeanour. “He was a gentleman and an astute professional. Over the years, we developed a strong personal friendship and I came to value his wise counsel and level-headed advice,” the Minister stated.
In his message of condolence, Opposition Leader, Brigadier (retired) David Granger said the nation has been robbed of the extensive knowledge, experience, and expertise which were embodied in the form of Williams. “Our deepest condolences to his close family, relatives, and friends.”
Williams leaves to mourn his wife, Valerie; his three children Runda, Lauren, and Lawrence Jr also known as Gavin and grandson Andrew Brown. A book of condolences will be opened on Friday at the Bank of Guyana.
Appointed Governor of the Central Bank in 2005, Williams had over a quarter of a century of diverse cumulative central banking experience. In 1979, just after successfully completing a Bachelor of Social Science 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.
Foreign exchange management
Subsequently, in 1982, he was appointed Principal, at which level he undertook the accounting and investment function of the Export Development Fund. In January 1984, Williams was appointed Supervisor of 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 raw materials, capital and intermediate goods. During the six years that 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 of the Exchange Control Department. However, his stay there was short-lived, since by the following January, he was named Assistant Head of the 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, Williams was appointed Director of the 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 to the Debt Management and Exchange Control Department prepared him for even greater challenges.
Fostering
monetary stability
In August 1995, 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 and Budgeting Department, International Department, and 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, Williams was appointed acting Governor of the Bank by President Bharrat Jagdeo. Less than a year later, on Wednesday, June 8, 2005, Williams was sworn in as Governor by the President.
