Brazil’s President Jair Bolsonaro
President Jair Bolsonaro has committed his efforts to encouraging Brazilian investments in Guyana as he talked up the possibility that there could soon be a flood of investments from that country here.
As Bolsonaro addressed members of the press in Georgetown during his one-day visit on Friday, he promised that on his return to Brasília, he will not only encourage, but he will incentivise members of the Brazilian business community to bring their businesses here.
“My visit here has been promising for our countries and people,” he said during brief comments at the Arthur Chung Conference Centre (ACCC). Continue reading
GUYANA: ‘IDB warns Guyana against wild spending’
May 06, 2022 – Kaieteur News –
– cautions significant oil revenues leave Guyana vulnerable to detrimental impacts of Dutch Disease
Kaieteur News – The current proven reserves in the Stabroek Block, which total almost 11 billion barrels of oil equivalent resources, along with the string of recent discoveries for 2022, will no doubt, produce rapid changes in Guyana’s overall economic structure. One of the most immediate effects will be the increase in the country’s Gross Domestic Product (GDP).
However, an increase in GDP does not translate to higher standards of living for citizens, who are the true owners of the oil wealth. In light of this irrefutable fact, the Inter-American Development Bank (IDB) is once again urging Guyana to place greater focus on ensuring the oil wealth leads to economic transformation and not the mere doubling of GDP. Continue reading →
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