{
  "title": "Guyana: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana",
  "publication": "IMF Staff Country Reports, September 17, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/09/16/guyana-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-48678",
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  "summary": "This 2019 Article IV Consultation highlights that Guyana’s economic growth strengthened in 2018 with broad-based expansion across all major sectors. The medium-term prospects are very favorable as oil production is on schedule to begin in early 2020. Economic growth is projected at 4.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Guyana’s economic growth strengthened in 2018 with broad-based expansion across all major sectors.\n- Medium-term prospects are described as very favorable due to oil production being on schedule to begin in early 2020.\n- The passage of the Natural Resource Fund legislation is identified as a critical step toward effective management of Guyana’s natural resource wealth.\n- The report spans 91 pages and is published as IMF Staff Country Reports 2019, Issue 296, Country Report No. 2019/296."
    },
    {
      "heading": "Economic projections and key statistics",
      "content": "- Economic growth is projected at 4.4 percent in 2019, extending the broad-based expansion across all major sectors.\n- Oil production is on schedule to begin in early 2020.\n- Publication metadata:\n  - Pages: 91\n  - Volume: 2019\n  - Issue: 296\n  - DOI: https://doi.org/10.5089/9781513514093.002\n  - Stock No: 1GUYEA2019001\n  - ISBN: 9781513514093\n  - ISSN: 1934-7685"
    },
    {
      "heading": "Findings, risks, and policy recommendations",
      "content": "- Main findings:\n  - Broad-based expansion across all major sectors contributed to stronger growth in 2018.\n  - Medium-term outlook is favorable linked to imminent oil production.\n- Fiscal framework and public finance:\n  - Policies should fortify the fiscal policy framework to ensure effective use of the new-found oil wealth.\n  - 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.\n  - The passage of the Natural Resource Fund legislation is a critical step for managing natural resource wealth.\n- Monetary and macroeconomic management:\n  - Develop the necessary infrastructure for a suitable monetary policy framework that facilitates adjustment to oil price shocks while maintaining price stability.\n- Structural and governance reforms:\n  - Reforms should enhance competitiveness, promote economic diversification, strengthen governance, and achieve inclusiveness."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Commodities, Expenditure, External debt, Oil, Oil production, Production, Public debt\n- Keywords: authorities project inflation, authority, Caribbean, CARTAC, CR, debt, GDP ratio, Global, government procurement, Guyanese authorities, IMF FSAP, ISCR, Oil, Oil production\n\nInternational 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\n\n---\n\n Content in this bundle\n\n- 1guyea2019001\n  - 1guyea2019001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1guyea2019001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 17, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513514093.002",
    "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 growth is projected at 4.4 percent in 2019, extending the broad-based expansion across all major sectors.",
    "Publication metadata:",
    "Main findings:",
    "Fiscal framework and public finance:",
    "Monetary and macroeconomic management:",
    "Structural and governance reforms:",
    "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",
    "**1guyea2019001**"
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