IMF Staff Country Reports

Guyana: Staff Report for the 2013 Article IV Consultation

Publication Date:

September 25, 2014

Electronic Access:

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Summary:

The economy has experienced seven consecutive years of robust growth, buoyed by high commodity prices, foreign direct investment and expansion of private sector credit. As part of a strategy to sustain growth, reduce poverty and curtail dependence on imported oil, the authorities are pursuing the Amaila Falls Hydro-electric Project (AFHP), entailing investment of about 30 percent of GDP. However, steps by Parliament that delayed important approvals led the private sector partner to withdraw, which could delay the project while additional financing is sought. Meanwhile, public debt remains high—around 60 percent of GDP—limiting the room to finance inclusive growth.

Series:

Country Report No. 2014/294

Subject:

Balance of payments Current account deficits Economic sectors External debt Imports International trade Public debt Public sector