Guyana: Poverty Reduction Strategy Paper Second Annual Progress Report: Joint Staff Advisory Note

IMF Staff Country Reports, October 26, 2006

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Guyana: Poverty Reduction Strategy Paper Second Annual Progress Report: Joint Staff Advisory Note

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Bibliographic details

• Published: October 26, 2006
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451816785.002

Summary findings

• Guyana continues to make progress in laying the foundation for poverty reduction, but at a slow pace.
• Critical issues remain to be addressed.
• Establishing an environment for sustained growth remains the main challenge for the government.
• It will be important to maintain the reform momentum and ensure basic security.
• An effective monitoring and evaluation framework needs to be fully implemented to support poverty reduction efforts.
• Prudent fiscal policies and a prioritized public sector investment program should continue to be pursued to improve debt sustainability prospects.

Policy recommendations

• Maintain reform momentum to support sustained growth.
• Ensure basic security to underpin poverty reduction efforts.
• Fully implement an effective monitoring and evaluation framework for the Poverty Reduction Strategy.
• Pursue prudent fiscal policies.
• Continue a prioritized public sector investment program to improve debt sustainability prospects.

Implementation priorities and institutional focus

• Implement and operationalize a well-functioning PRS monitoring system to track outcomes and guide policy.
• Strengthen public financial management (PFM) practices consistent with prudent fiscal policy.
• Prioritize public investment projects to align with poverty reduction objectives and debt sustainability constraints.
• Engage government ministries and Guyanese authorities in sustained reform efforts and evaluation.

International Monetary Fund. "Guyana: Poverty Reduction Strategy Paper Second Annual Progress Report: Joint Staff Advisory Note", October 26, 2006.

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