Guyana: Staff Report for the 2013 Article IV Consultation

International Monetary Fund

No 2014/294, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; deficit; debt; real GDP; U.S. dollar; GDP growth; Twelve-moth inflation; fuel import; consumption tax receipt; climate mitigation effort; sugar company; Public sector; Current account deficits; Imports; Caribbean; Global (search for similar items in EconPapers)
Pages: 74
Date: 2014-09-25
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