Guyana: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana
IMF Staff Country Reports, September 17, 2019
Source details
- Canonical URL
- Guyana: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana
Other formats
Bibliographic details
- Published: September 17, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513514093.002
Overview
- Guyana’s economic growth strengthened in 2018 with broad-based expansion across all major sectors.
- Medium-term prospects are described as very favorable due to oil production being on schedule to begin in early 2020.
- The passage of the Natural Resource Fund legislation is identified as a critical step toward effective management of Guyana’s natural resource wealth.
- The report spans 91 pages and is published as IMF Staff Country Reports 2019, Issue 296, Country Report No. 2019/296.
Economic projections and key statistics
- Economic growth is projected at 4.4 percent in 2019, extending the broad-based expansion across all major sectors.
- Oil production is on schedule to begin in early 2020.
- Publication metadata:
- Pages: 91
- Volume: 2019
- Issue: 296
- DOI: https://doi.org/10.5089/9781513514093.002
- Stock No: 1GUYEA2019001
- ISBN: 9781513514093
- ISSN: 1934-7685
Findings, risks, and policy recommendations
- Main findings:
- Broad-based expansion across all major sectors contributed to stronger growth in 2018.
- Medium-term outlook is favorable linked to imminent oil production.
- Fiscal framework and public finance:
- Policies should fortify the fiscal policy framework to ensure effective use of the new-found oil wealth.
- To ensure fiscal discipline is maintained and spending ramps up at a pace in line with absorptive capacity, the fiscal framework should be enhanced to prevent deficits.
- The passage of the Natural Resource Fund legislation is a critical step for managing natural resource wealth.
- Monetary and macroeconomic management:
- Develop the necessary infrastructure for a suitable monetary policy framework that facilitates adjustment to oil price shocks while maintaining price stability.
- Structural and governance reforms:
- Reforms should enhance competitiveness, promote economic diversification, strengthen governance, and achieve inclusiveness.
Subjects and keywords (as listed)
- Subjects: Commodities, Expenditure, External debt, Oil, Oil production, Production, Public debt
- Keywords: authorities project inflation, authority, Caribbean, CARTAC, CR, debt, GDP ratio, Global, government procurement, Guyanese authorities, IMF FSAP, ISCR, Oil, Oil production
International Monetary Fund. Western Hemisphere Dept. "Guyana: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana", IMF Staff Country Reports 2019, 296 (2019), accessed 9/11/2026, https://doi.org/10.5089/9781513514093.002
Content in this bundle
- 1guyea2019001