IMF Staff Country Reports

Guyana: 2023 Article IV Consultation-Press Release; and Staff Report

Publication Date:

December 4, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The Guyanese economy has tripled in size since the start of oil extraction (end- 2019), from one of the lowest GDP per capita in Latin America and the Caribbean in the early nineties. Oil production is ramping up rapidly, supporting the highest real GDP growth in the world in 2022 (62.3 percent). With the help of oil revenues, first transferred to the budget in 2022, the government has started investing heavily to address large development needs. Fundamentals remain strong and there are no signs of inflationary pressures or overheating as of yet—annual CPI inflation rate was 1.2 percent in July 2023— since there remains slack in the economy.

Series:

Country Report No. 2023/379

Subject:

Commodities Economic sectors External debt Fiscal policy International organization Monetary policy Oil Public debt Public sector

Frequency:

regular