Tag Archives: inclusive sustainable growth

GUYANA: ‘IDB warns Guyana against wild spending’

May 06, 2022 – Kaieteur News –

– says govt must pay heed to the country’s absorptive capacity regarding mega projects
– 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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