IMF Working Papers

Managing Guyana’s Oil Wealth: Monetary and Exchange Rate Policy Considerations

By Rina Bhattacharya

November 11, 2022

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Rina Bhattacharya. Managing Guyana’s Oil Wealth: Monetary and Exchange Rate Policy Considerations, (USA: International Monetary Fund, 2022) accessed December 7, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

International oil producers have discovered commercially recoverable petroleum reserves of around 11 billion barrels that promise to transform Guyana's agricultural and mining economy into an oil powerhouse, while hopefully helping to diversify the non-oil economy. Oil production presents a momentous opportunity to boost inclusive growth and diversify the economy providing resources to address human development needs and infrastructure gaps. At the same time, it presents important policy challenges relating to effective and prudent management of the nation’s oil wealth. This study focusses on one of these challenges: the appropriate monetary policy and exchange rate framework for Guyana as it transitions to a major oil exporter.

Keywords: Exchange rate policy, Guyana, Monetary policy framework

Publication Details

  • Pages:

    35

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2022/224

  • Stock No:

    WPIEA2022224

  • ISBN:

    9798400225994

  • ISSN:

    1018-5941